Topic: Goldman Sachs projection regarding BTC (Read 357 times)
100k isn't possible to bitcoin to be honest because obviously its very near, wherein probably 2 years form now is enough to reach that value in my personal opinion . And you know it's a very common prediction and as the matter of fact way back 2021 during the bull run of the market many analyst were very positive about that level based of the performance of bitcoin. So its not surprising why until now despite of the circumstances most people still positive about that prediction.
Quote
Goldman Sachs forecasts a Bitcoin price of $100,000 and the potential of it eventually supplanting gold.
According to Goldman Sachs, Bitcoin may continue to supplant gold as a reserve of value asset and so reach $100,000 a unit. The bank thinks that the BTC is worth $700 billion on the open market. The overall market value of gold is $2.6 trillion.
According to Goldman Sachs, Bitcoin may continue to supplant gold as a reserve of value asset and so reach $100,000 a unit. The bank thinks that the BTC is worth $700 billion on the open market. The overall market value of gold is $2.6 trillion.
What are the implications of this news? Is this a possibility?
Neither we do hit 100k or not then nothing is assured thats why better not to mind off that much even though these words could neither give out some impact or not on the market.
Lots of speculations that floats around thats why its really hard to make out predictions and its better to follow your own analysis than following others views.
For sure it will have an impact, Goldman & Sachs is one of the biggest institutions in the US so whatever they can everyone is going to listen to it, weight their investment, or whether to ride the boat or jump out from the beginning.
But as we crypto enthusiast, we know that $100,000 could be reachable, but it might take some time again because the market have shifted to a more bearish sentiments.
I guess all of us on forum believe it will happen. Just I feel nobody will be satisfied about the actual timeframe.
We all believe that it will happen because that's exactly we want bitcoin to be. But we are not aware on how hard and tough the road before bitcoin reaches its target price.Speak for yourself friend,,, I was exactly talking about how hard it will be, or rather, how long. I think most of the real users on this forum are aware, and we are all satisfied with what we think is a non optimistic timeframe. I even said years ago I would say 2020 was the earliest for new ATH but I thought personally it would be 2021. And then it came last year already, so I can believe I know how to be pessimistic but deep down I think 100k is in a couple of years. And deeper down,,, I know it can never arrive in many more years.
The implication is very simple, because it is concerned with the discourse of thought that is being convinced of every user from the very beginning for analysis in the very long term and also it is only an analysis where it can be real or just an endless estimate.
but as far as bitcoin price movements to this day it is not impossible, but regarding to replace gold it is a difficult thing because any financial authority will not agree with this, well then the implications for gold will have no effect.
bitcoin has its way.
but as far as bitcoin price movements to this day it is not impossible, but regarding to replace gold it is a difficult thing because any financial authority will not agree with this, well then the implications for gold will have no effect.
bitcoin has its way.
Quote
Goldman Sachs forecasts a Bitcoin price of $100,000 and the potential of it eventually supplanting gold.
According to Goldman Sachs, Bitcoin may continue to supplant gold as a reserve of value asset and so reach $100,000 a unit. The bank thinks that the BTC is worth $700 billion on the open market. The overall market value of gold is $2.6 trillion.
According to Goldman Sachs, Bitcoin may continue to supplant gold as a reserve of value asset and so reach $100,000 a unit. The bank thinks that the BTC is worth $700 billion on the open market. The overall market value of gold is $2.6 trillion.
What are the implications of this news? Is this a possibility?
Neither we do hit 100k or not then nothing is assured thats why better not to mind off that much even though these words could neither give out some impact or not on the market.
Lots of speculations that floats around thats why its really hard to make out predictions and its better to follow your own analysis than following others views.
For sure it will have an impact, Goldman & Sachs is one of the biggest institutions in the US so whatever they can everyone is going to listen to it, weight their investment, or whether to ride the boat or jump out from the beginning.
But as we crypto enthusiast, we know that $100,000 could be reachable, but it might take some time again because the market have shifted to a more bearish sentiments.
The only time when a rate hike would cause a massive sudden market move is if it was unexpected and happened suddenly. However this won’t be the case.
The genuine pressure to pricing in any market would be when interest rates exceed inflation. At present and for many years rates have lagged behind which means currency is predictably weaker every month every year for quite some time. This is by design as it relieves pressure on government spending and budgets which are also in deficit continually, it means BTC has little pressure on it also from a Dollar exchange rate. BTC is growing in usage but has less available in circulation then that growth where as Dollar generally allows for more dollars to circulate then actual genuine growth is occuring in economies however it is used worldwide so has a great standing to act loosely for some time.
Quote
Goldman Sachs forecasts a Bitcoin price of $100,000 and the potential of it eventually supplanting gold.
According to Goldman Sachs, Bitcoin may continue to supplant gold as a reserve of value asset and so reach $100,000 a unit. The bank thinks that the BTC is worth $700 billion on the open market. The overall market value of gold is $2.6 trillion.
According to Goldman Sachs, Bitcoin may continue to supplant gold as a reserve of value asset and so reach $100,000 a unit. The bank thinks that the BTC is worth $700 billion on the open market. The overall market value of gold is $2.6 trillion.
What are the implications of this news? Is this a possibility?
Neither we do hit 100k or not then nothing is assured thats why better not to mind off that much even though these words could neither give out some impact or not on the market.
Lots of speculations that floats around thats why its really hard to make out predictions and its better to follow your own analysis than following others views.
Again I remind projection here proves one thing and one thing: price appreciates over time in long term.
Not only Goldman, but a lot of big names have already predicted that bitcoin will achieved $100k price but there are no fixed dates, and until now it remains a prediction. However, Goldman already reveals that the road to $100k for bitcoin will only happen once the investors will see it as a digital gold. Read it here: https://cryptoslate.com/goldman-sachs-reveal-how-bitcoin-can-reach-100k-in-2022/Still, there's no guaranteed date when will all investors see it as a digital gold.
That was sort of the point I was trying to explain,,, it is not the first projection of 100k, remember we even had people bet on half million and 1 million price in 2016. This is SIX years ago and it did not come true at any one time,,, does not mean if 100 people predict it and 100 supercomputers insist it,,, that it comes sooner.
I guess all of us on forum believe it will happen. Just I feel nobody will be satisfied about the actual timeframe.
Again I remind projection here proves one thing and one thing: price appreciates over time in long term.
Not only Goldman, but a lot of big names have already predicted that bitcoin will achieved $100k price but there are no fixed dates, and until now it remains a prediction. However, Goldman already reveals that the road to $100k for bitcoin will only happen once the investors will see it as a digital gold. Read it here: https://cryptoslate.com/goldman-sachs-reveal-how-bitcoin-can-reach-100k-in-2022/Still, there's no guaranteed date when will all investors see it as a digital gold.
That was sort of the point I was trying to explain,,, it is not the first projection of 100k, remember we even had people bet on half million and 1 million price in 2016. This is SIX years ago and it did not come true at any one time,,, does not mean if 100 people predict it and 100 supercomputers insist it,,, that it comes sooner.
I guess all of us on forum believe it will happen. Just I feel nobody will be satisfied about the actual timeframe.
Not so much because of increasing price, but the ability to keep a high average of appreciating value I would say,,, I mean, you just have to be a holder to understand that you could even lose value over 2 years more and more, but eventually, if you wait 4 or 5 years or much longer, it is always worth more than the price you paid, which also makes DCA an interesting way to keep ensuring your value/networth keeps growing!
Bitcoin price at $100k is really possible but there are no higher chances that it will happen this year. But, according to Goldman, bitcoin could only reach $100k if it replaces gold as a store of value. I guess its not. Bitcoin is already seen today as the highest store of value than gold and if the adoption of bitcoin could turn into massive, bitcoin could even surpass the price prediction of Goldman.You should look up Goldman Sachs history they even said about 100k Bitcoin price last year but with a lot of IFs,,, which I would read as a "when". Why? Because all the things like volatility and store of value and mass adoption (all the factors preventing Bitcoin price) are all no longer a matter of if but when.
Again I remind projection here proves one thing and one thing: price appreciates over time in long term.
Still, there's no guaranteed date when will all investors see it as a digital gold.
Not so much because of increasing price, but the ability to keep a high average of appreciating value I would say,,, I mean, you just have to be a holder to understand that you could even lose value over 2 years more and more, but eventually, if you wait 4 or 5 years or much longer, it is always worth more than the price you paid, which also makes DCA an interesting way to keep ensuring your value/networth keeps growing!
Bitcoin price at $100k is really possible but there are no higher chances that it will happen this year. But, according to Goldman, bitcoin could only reach $100k if it replaces gold as a store of value. I guess its not. Bitcoin is already seen today as the highest store of value than gold and if the adoption of bitcoin could turn into massive, bitcoin could even surpass the price prediction of Goldman.You should look up Goldman Sachs history they even said about 100k Bitcoin price last year but with a lot of IFs,,, which I would read as a "when". Why? Because all the things like volatility and store of value and mass adoption (all the factors preventing Bitcoin price) are all no longer a matter of if but when.
Again I remind projection here proves one thing and one thing: price appreciates over time in long term.
People are getting way too confused over short, medium and long term. Yes Bitcoin is store of value, yes Bitcoin is always going to appreciate and yes Bitcoin also a hedge for inflation,,, but this is long term.
Volatility in short term is a fact we cannot deny, but that does not mean Bitcoin is broken
Bitcoin becomes a store of value because of its increasing price, and over the last 10 years, Bitcoin proves to become better and that’s why many started to believe on this. The $100k prediction is possible to happen, though it may not easy but in time we will be able to reach that. I see that to happen in the next 5 years, we are actually getting closer for that price.Volatility in short term is a fact we cannot deny, but that does not mean Bitcoin is broken
Not so much because of increasing price, but the ability to keep a high average of appreciating value I would say,,, I mean, you just have to be a holder to understand that you could even lose value over 2 years more and more, but eventually, if you wait 4 or 5 years or much longer, it is always worth more than the price you paid, which also makes DCA an interesting way to keep ensuring your value/networth keeps growing!
Yes but the issue with these rate hikes is that we don’t know if they were priced in or not. Everybody knew it was going to be a reality when the Bank of England did it a few months ago.
Right now people are using the rate hike as a justification about why there is selling. However we knew this months in advance. So when it actually hikes? People except everything to go lower or will it already be priced in.
The only time when a rate hike would cause a massive sudden market move is if it was unexpected and happened suddenly. However this won’t be the case.
Right now people are using the rate hike as a justification about why there is selling. However we knew this months in advance. So when it actually hikes? People except everything to go lower or will it already be priced in.
The only time when a rate hike would cause a massive sudden market move is if it was unexpected and happened suddenly. However this won’t be the case.
News update.
It appears Goldman Sachs is beginning to have a similar prediction as their banking cousin Morgan Stanley on what might occur for this year of 2022. This might be the beginning for those $100k laser eyes bitcoiners to accept reality. The margin sellers might have not yet sold and it will be certainly those margin sellers that decide how low the dump might be during the bear market.
Goldman Sachs Warns Bitcoin Increasingly Vulnerable to Fed Rate Hikes
Global investment bank Goldman Sachs published a research note Thursday detailing bitcoin’s increased vulnerability to the Federal Reserve hiking interest rates.
Zach Pandl, bank’s co-head of foreign exchange strategy, and FX analyst Isabella Rosenberg explained that as mainstream adoption of bitcoin increases, so does the cryptocurrency’s vulnerability to Fed policy. They described:
Over the last two years, as bitcoin has seen wider mainstream adoption, its correlation with macro assets has picked up.
Noting that higher bond yields have affected technology stocks in recent weeks, with the Nasdaq 100 index falling more than 13% for the year, the analysts noted: “Bitcoin and other digital assets have likely suffered from the same forces … These assets will not be immune to macroeconomic forces, including central bank monetary tightening.”
The markets now expect the Fed to hike interest rates five times this year. Goldman Sachs believes that the Fed could raise interest rates at every meeting this year. The post-meeting statement from the Federal Open Market Committee (FOMC) last week did not provide a specific time for when the increase will come, though indications are that it could happen as soon as the March meeting.
Source https://news.bitcoin.com/goldman-sachs-bitcoin-vulnerable-to-fed-rate-hikes-mainstream-adoption-grows/
It appears Goldman Sachs is beginning to have a similar prediction as their banking cousin Morgan Stanley on what might occur for this year of 2022. This might be the beginning for those $100k laser eyes bitcoiners to accept reality. The margin sellers might have not yet sold and it will be certainly those margin sellers that decide how low the dump might be during the bear market.
Goldman Sachs Warns Bitcoin Increasingly Vulnerable to Fed Rate Hikes
Global investment bank Goldman Sachs published a research note Thursday detailing bitcoin’s increased vulnerability to the Federal Reserve hiking interest rates.
Zach Pandl, bank’s co-head of foreign exchange strategy, and FX analyst Isabella Rosenberg explained that as mainstream adoption of bitcoin increases, so does the cryptocurrency’s vulnerability to Fed policy. They described:
Over the last two years, as bitcoin has seen wider mainstream adoption, its correlation with macro assets has picked up.
Noting that higher bond yields have affected technology stocks in recent weeks, with the Nasdaq 100 index falling more than 13% for the year, the analysts noted: “Bitcoin and other digital assets have likely suffered from the same forces … These assets will not be immune to macroeconomic forces, including central bank monetary tightening.”
The markets now expect the Fed to hike interest rates five times this year. Goldman Sachs believes that the Fed could raise interest rates at every meeting this year. The post-meeting statement from the Federal Open Market Committee (FOMC) last week did not provide a specific time for when the increase will come, though indications are that it could happen as soon as the March meeting.
Source https://news.bitcoin.com/goldman-sachs-bitcoin-vulnerable-to-fed-rate-hikes-mainstream-adoption-grows/
People are getting way too confused over short, medium and long term. Yes Bitcoin is store of value, yes Bitcoin is always going to appreciate and yes Bitcoin also a hedge for inflation,,, but this is long term.
Volatility in short term is a fact we cannot deny, but that does not mean Bitcoin is broken
Bitcoin becomes a store of value because of its increasing price, and over the last 10 years, Bitcoin proves to become better and that’s why many started to believe on this. The $100k prediction is possible to happen, though it may not easy but in time we will be able to reach that. I see that to happen in the next 5 years, we are actually getting closer for that price.Volatility in short term is a fact we cannot deny, but that does not mean Bitcoin is broken
Not so much because of increasing price, but the ability to keep a high average of appreciating value I would say,,, I mean, you just have to be a holder to understand that you could even lose value over 2 years more and more, but eventually, if you wait 4 or 5 years or much longer, it is always worth more than the price you paid, which also makes DCA an interesting way to keep ensuring your value/networth keeps growing!
Quote
Goldman Sachs forecasts a Bitcoin price of $100,000 and the potential of it eventually supplanting gold.
According to Goldman Sachs, Bitcoin may continue to supplant gold as a reserve of value asset and so reach $100,000 a unit. The bank thinks that the BTC is worth $700 billion on the open market. The overall market value of gold is $2.6 trillion.
According to Goldman Sachs, Bitcoin may continue to supplant gold as a reserve of value asset and so reach $100,000 a unit. The bank thinks that the BTC is worth $700 billion on the open market. The overall market value of gold is $2.6 trillion.
What are the implications of this news? Is this a possibility?
$100k is definitely a reachable target. The question isn't how but rather when. We have seen bitcoin break previous records quite easily, even though it was projected to flop or get heavily dumped by speculators.
Also for a bank, Goldman-Sachs appear to be highly interested of what direction will bitcoin's price head to. They seem to release a lot of these speculations quite frequently, which makes me think that perhaps bitcoin is on one of their best interests too
Also for a bank, Goldman-Sachs appear to be highly interested of what direction will bitcoin's price head to. They seem to release a lot of these speculations quite frequently, which makes me think that perhaps bitcoin is on one of their best interests too
They have been releasing these market analysis for Bitcoin for years. At least they released it in 2017 and if I recall they predicted that Bitcoin would go down but it went to $20K instead.
Most of the analysis is basic regular moving average and Elliot waves analysis which is surprising they release this info since these are very basic technical analysis that anyone can do them selves.
It you read their analysis for many instruments in the past you will figure out that it doesn’t really help you. If they had some insider knowledge they wouldn’t release it for free.
$100k is definitely a reachable target. The question isn't how but rather when. We have seen bitcoin break previous records quite easily, even though it was projected to flop or get heavily dumped by speculators.
Also for a bank, Goldman-Sachs appear to be highly interested of what direction will bitcoin's price head to. They seem to release a lot of these speculations quite frequently, which makes me think that perhaps bitcoin is on one of their best interests too
Also for a bank, Goldman-Sachs appear to be highly interested of what direction will bitcoin's price head to. They seem to release a lot of these speculations quite frequently, which makes me think that perhaps bitcoin is on one of their best interests too
People are getting way too confused over short, medium and long term. Yes Bitcoin is store of value, yes Bitcoin is always going to appreciate and yes Bitcoin also a hedge for inflation,,, but this is long term.
Volatility in short term is a fact we cannot deny, but that does not mean Bitcoin is broken
Bitcoin becomes a store of value because of its increasing price, and over the last 10 years, Bitcoin proves to become better and that’s why many started to believe on this. The $100k prediction is possible to happen, though it may not easy but in time we will be able to reach that. I see that to happen in the next 5 years, we are actually getting closer for that price. Volatility in short term is a fact we cannot deny, but that does not mean Bitcoin is broken
I dont mind the price target, BTC remains quite capable of large price gains longer term.
Again during the time of gold it was to the exclusive hodling of the old and royal families and even till this time also but it is not in comparison with bitcoin because btc is no exclusive of any class of people. I have heard of people gifting bitcoin to under age and this tells us the height that bitcoin will get in the future. The market value of btc in ten years time is going to be real record breaking.
I dont mind the price target, BTC remains quite capable of large price gains longer term.
Again during the time of gold it was to the exclusive hodling of the old and royal families and even till this time also but it is not in comparison with bitcoin because btc is no exclusive of any class of people. I have heard of people gifting bitcoin to under age and this tells us the height that bitcoin will get in the future. The market value of btc in ten years time is going to be real record breaking.
Supplanting gold is nonsense, modern alchemy about as likely as any previous attempt at reinvention of a base element. Gold is distinct and quite separate to anything else certainly a non physical entity such as BTC no matter how tradable this might become its not in competition with gold to begin with no more then any asset opposes another.
I dont mind the price target, BTC remains quite capable of large price gains longer term. At this moment I see it launching off the 12hr average, passing the sedate 2 day also and quite possibly able to target 46k weekly above just like that out of nowhere I think its possible (beating the 17th's price action is required). US open saw this movement and we've had recovery in dollar opposing assets, so not as replacement but in conjunction BTC and gold often move in similar circles of movement.
I dont mind the price target, BTC remains quite capable of large price gains longer term. At this moment I see it launching off the 12hr average, passing the sedate 2 day also and quite possibly able to target 46k weekly above just like that out of nowhere I think its possible (beating the 17th's price action is required). US open saw this movement and we've had recovery in dollar opposing assets, so not as replacement but in conjunction BTC and gold often move in similar circles of movement.
People are getting way too confused over short, medium and long term. Yes Bitcoin is store of value, yes Bitcoin is always going to appreciate and yes Bitcoin also a hedge for inflation,,, but this is long term.
For sure many knows the difference between the two, it's that the investors or speculators also look for short term or at least the highest price that they want, at least in this case a 6 digit figure.
Volatility in short term is a fact we cannot deny, but that does not mean Bitcoin is broken
True, we might as well embrace volatility because it's part of the market cycle. I think crypto is just one market wherein volatility has been embrace because we can make money out of this price movement.
And then when will it end? After 6 digits, people will go for 7, because everybody has to see progress and in Bitcoin, everything must happen at hyper light speed right?
And then we love the volatility,,, until we lose money, then it becomes a bad thing. I only know Bitcoin for a few years but the pattern of behavior is so easy to see!
People are getting way too confused over short, medium and long term. Yes Bitcoin is store of value, yes Bitcoin is always going to appreciate and yes Bitcoin also a hedge for inflation,,, but this is long term.
Volatility in short term is a fact we cannot deny, but that does not mean Bitcoin is broken
Just get used to people saying that kind of stuff because that's been the case for a long time since bitcoin has been in this market, people have been skeptic and they've been doubtful if not outright haters of bitcoin so you really can't do much about them doing this kinds of things, what you can do is just mind your own business and hold on to your bitcoins. Volatility in short term is a fact we cannot deny, but that does not mean Bitcoin is broken
I am beginning to be skeptical on bitcoin’s purpose as a store of value and as an hedge for inflation if the appointed policy makers in central banks can weaken both of those purposes through a simple change in policies that would limit leverage on the market. I would shake my head if everyone thought bitcoin would continue to pump if liquidity was removed as a policy change. Liquidity removal would imply limited leverage which would also imply the beginning of the bubble pop.
A more accurate interpretation is that bitcoin could be a good inflation hedge in the future; not necessarily that it is right now. Bitcoin is still quite young in terms of adoption that the asset is still heavily heavily inefficient market-wise, hence the heavy volatility.
I would agree if in the future bitcoin market will be very disconnected from the traditional financial system that central bank policy changes would not put it at risk of dumping. However, it is very clear that it is not where bitcoin is going.
In any case, Goldman Sachs’ cousin hehehe, Morgan Stanley has a more realistic evaluation of the central banks’ policies, the cryptospace market and what might occur. There might be more investment banks that might release similar statements before June.
Low interest rates, expansion of central bank balance sheets, and government stimulus were all “drivers of exponential cryptocurrency price rises” in the last two years, Morgan Stanley said in a research note.
Leveraged crypto markets are now weakening as the U.S. Federal Reserve and other central banks look to slow their balance sheet expansion and prepare the markets for interest rate hikes, the bank’s head of cryptocurrency research, Sheena Shah, wrote in a report published last week.
Cryptocurrency’s usage as a payment vehicle/exchange of value is what should drive its valuation in the long run. However, the market has been trading most cryptocurrencies like speculative risk assets, as evidenced by the correlation between bitcoin and equity markets in the last six months, the report said.
Source https://www.coindesk.com/markets/2022/01/18/morgan-stanley-says-crypto-markets-are-weakening-as-central-banks-look-to-tighten/
Quote
Goldman Sachs forecasts a Bitcoin price of $100,000 and the potential of it eventually supplanting gold.
According to Goldman Sachs, Bitcoin may continue to supplant gold as a reserve of value asset and so reach $100,000 a unit. The bank thinks that the BTC is worth $700 billion on the open market. The overall market value of gold is $2.6 trillion.
According to Goldman Sachs, Bitcoin may continue to supplant gold as a reserve of value asset and so reach $100,000 a unit. The bank thinks that the BTC is worth $700 billion on the open market. The overall market value of gold is $2.6 trillion.
What are the implications of this news? Is this a possibility?
If you tell people that 2x is possible in the near future if they buy it, then they are going to listen to you, or at least some of them will listen to you, especially the ones that made profit with you before. So, this is not really a shocking news, they are not really saying 100k will happen, what they are really saying is it will be 100k so give us your money.
People are getting way too confused over short, medium and long term. Yes Bitcoin is store of value, yes Bitcoin is always going to appreciate and yes Bitcoin also a hedge for inflation,,, but this is long term.
For sure many knows the difference between the two, it's that the investors or speculators also look for short term or at least the highest price that they want, at least in this case a 6 digit figure.
Volatility in short term is a fact we cannot deny, but that does not mean Bitcoin is broken
True, we might as well embrace volatility because it's part of the market cycle. I think crypto is just one market wherein volatility has been embrace because we can make money out of this price movement.
People are getting way too confused over short, medium and long term. Yes Bitcoin is store of value, yes Bitcoin is always going to appreciate and yes Bitcoin also a hedge for inflation,,, but this is long term.
Volatility in short term is a fact we cannot deny, but that does not mean Bitcoin is broken
Volatility in short term is a fact we cannot deny, but that does not mean Bitcoin is broken
Quote
Goldman Sachs forecasts a Bitcoin price of $100,000 and the potential of it eventually supplanting gold.
According to Goldman Sachs, Bitcoin may continue to supplant gold as a reserve of value asset and so reach $100,000 a unit. The bank thinks that the BTC is worth $700 billion on the open market. The overall market value of gold is $2.6 trillion.
According to Goldman Sachs, Bitcoin may continue to supplant gold as a reserve of value asset and so reach $100,000 a unit. The bank thinks that the BTC is worth $700 billion on the open market. The overall market value of gold is $2.6 trillion.
What are the implications of this news? Is this a possibility?
Implications? None, it might sway investors though and probably this is what G&S are trying to do here, influencing crypto and non crypto investors with their bold predictions.
Nevertheless, $100k is the next target for bitcoin, I mean it was supposedly predicted that we are going to go achieved it by the end of 2021, but unfortunately, lot of factors affected the price negatively in December. But it will just be a matter of time, maybe in the next bull run, we will able to get into the 6 digit price range.
I am beginning to be skeptical on bitcoin’s purpose as a store of value and as an hedge for inflation if the appointed policy makers in central banks can weaken both of those purposes through a simple change in policies that would limit leverage on the market. I would shake my head if everyone thought bitcoin would continue to pump if liquidity was removed as a policy change. Liquidity removal would imply limited leverage which would also imply the beginning of the bubble pop.
A more accurate interpretation is that bitcoin could be a good inflation hedge in the future; not necessarily that it is right now. Bitcoin is still quite young in terms of adoption that the asset is still heavily heavily inefficient market-wise, hence the heavy volatility.
There will be a number of implications from this. For one, the fact that the bullish prediction is coming from a giant banking company in the world means that Bitcoin's influence has already reached the doorsteps of traditional institutions like the banks. This is indicative of the growing strength of whatever idea Bitcoin is carrying. Which brings us to another implication, that is, the future of Bitcoin is indeed brighter.
Of course this is a possibility, and not just one of the possibilities. This is a possibility that may be seen to happen in the near future.
Of course this is a possibility, and not just one of the possibilities. This is a possibility that may be seen to happen in the near future.
OP, you get rid of ban for plagiarism because you put it as quote but for next times you should put the source too. There are several:
Goldman Says Bitcoin $100,000 a Possibility by Taking on Gold
Bitcoin could pass $100,000 if it replaces gold as a store of value, says Goldman Sachs
Goldman Sachs says bitcoin will compete with gold as "store of value"
Goldman Says Bitcoin $100,000 a Possibility by Taking on Gold
Bitcoin could pass $100,000 if it replaces gold as a store of value, says Goldman Sachs
Goldman Sachs says bitcoin will compete with gold as "store of value"
I am beginning to be skeptical on bitcoin’s purpose as a store of value and as an hedge for inflation if the appointed policy makers in central banks can weaken both of those purposes through a simple change in policies that would limit leverage on the market. I would shake my head if everyone thought bitcoin would continue to pump if liquidity was removed as a policy change. Liquidity removal would imply limited leverage which would also imply the beginning of the bubble pop.
Putting sources aside, price "predictions" or "projections" doesn't mean crap especially with something like bitcoin whereas the price is just mostly going to depend on demand(and not cashflows and such when talking about stocks).
Do research on bitcoin and decide for yourself if you're bullish on it or not. That way you have no one to blame in the end if you end up with the wrong decision.
Do research on bitcoin and decide for yourself if you're bullish on it or not. That way you have no one to blame in the end if you end up with the wrong decision.
OP, you get rid of ban for plagiarism because you put it as quote but for next times you should put the source too.
I wasn't even thinking of plagiarism in this case; after looking at the quote I just wanted to know where it came from, because I wasn't sure if I should believe GS made a prediction like that.Bitcoin supplanting gold? What does that even mean? And I'm not talking about definitions, I'm wondering about how it would even be possible that bitcoin would essentially become a substitute for gold. The comparisons between the two have been talked about for years, but they're two very different things that happen to share some similar characteristics. Gold isn't ever going to be in danger of losing much value unless Elon Musk figures out a way to mine it on asteroids and thereby dilutes the supply.
So five years for bitcoin to reach $100k....not sure if that's going to happen or not. Something tells me that the good times are going to be over by then (and I'm not talking about life in general; I'm talking about the bull market we've been in for over a decade), and interest rates will be higher, inflation will have eroded the value of the USD, and people will have become less inclined to speculate in risky assets.
But hey, I've been wrong many times before--especially when it comes to predicting economic conditions and the price of bitcoin.
OP, you get rid of ban for plagiarism because you put it as quote but for next times you should put the source too. There are several:
Goldman Says Bitcoin $100,000 a Possibility by Taking on Gold
Bitcoin could pass $100,000 if it replaces gold as a store of value, says Goldman Sachs
Goldman Sachs says bitcoin will compete with gold as "store of value"
It seems they are talking about 5 years (quote from the Fortune article):
Completely agree with this. It is a prediction like many others we have seen, not that Goldman Sachs has any particular credibility for me.
Goldman Says Bitcoin $100,000 a Possibility by Taking on Gold
Bitcoin could pass $100,000 if it replaces gold as a store of value, says Goldman Sachs
Goldman Sachs says bitcoin will compete with gold as "store of value"
The part you posted here doesn't have any kind of timeframe so it can not be assessed.
It seems they are talking about 5 years (quote from the Fortune article):
It has no implications though, this is just another random speculation.
Completely agree with this. It is a prediction like many others we have seen, not that Goldman Sachs has any particular credibility for me.
What are the implications of this news? Is this a possibility?
The part you posted here doesn't have any kind of timeframe so it can not be assessed. For example if it is saying that $100k is the maximum price of bitcoin then it is a dumb statement that comes from someone (or rather corrupt banksters) who has no idea what bitcoin is. All they have to do is to look at the corruption in their own structure to realize $100k will be the start.But expecting $100k this year and surpassing gold's market cap is a understandable target. It has no implications though, this is just another random speculation.
Quote
Goldman Sachs forecasts a Bitcoin price of $100,000 and the potential of it eventually supplanting gold.
According to Goldman Sachs, Bitcoin may continue to supplant gold as a reserve of value asset and so reach $100,000 a unit. The bank thinks that the BTC is worth $700 billion on the open market. The overall market value of gold is $2.6 trillion.
According to Goldman Sachs, Bitcoin may continue to supplant gold as a reserve of value asset and so reach $100,000 a unit. The bank thinks that the BTC is worth $700 billion on the open market. The overall market value of gold is $2.6 trillion.
What are the implications of this news? Is this a possibility?
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