Cryptocurrency Analysis and News Portal
Global investment bank Goldman Sachs has warned that bitcoin is increasingly vulnerable to the Federal Reserve’s rate hikes as the cryptocurrency grows more widely adopted. “Over the last two years, as bitcoin has seen wider mainstream adoption, its correlation with macro assets has picked up,” the Goldman analysts explained. Goldman Sachs
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The recent pullback in the cryptocurrency market shows that mainstream adoption can be a “double-edged sword,” Goldman Sachs said in a report Thursday.Since November, the bank notes, the total crypto market cap has fallen around 40%. The slide is unique in that it was driven mainly by macroeconomic factors, that
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In 2020, Goldman’s digital asset global head Matthew McDermott said that the bank was contemplating its own cryptocurrency, possibly a stablecoin. He also hinted at a potential collaboration with social media giant Facebook (now known as Meta) or with banking rival JPMorgan, which launched its own in-house token, JPM coin,
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Global investment bank Goldman Sachs has predicted that the metaverse could be an $8 trillion opportunity. Several others have similarly predicted that the metaverse is a multitrillion-dollar market. Goldman Sachs Says the Metaverse Could Be an $8 Trillion Opportunity Global investment bank Goldman Sachs has predicted that the metaverse could be
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Crypto exchange Coinbase, bank Silvergate Capital and trading platform Robinhood are expected to post the strongest results relative to estimates, the bank said in a note published Tuesday. Goldman expects total crypto-trading revenue at Coinbase and Robinhood to rise 62% and 18%, respectively, from the previous quarter. Source
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That said, the technical indicator’s past record as a predictor of bear markets is mixed. According to research by Kraken, many of bitcoin’s previous death crosses, including those seen in 2014 and 2018, coincided with “either a sell-off in the days that followed or a continued macro downtrend that confirmed
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Goldman Sachs has predicted that the price of bitcoin could reach $100,000. The global investment bank believes that bitcoin will continue to take market share away from gold as cryptocurrency adoption grows. Goldman Sachs’ Bitcoin vs Gold Prediction Goldman Sachs analyst Zach Pandl, co-head of global foreign exchange strategy, outlined the future
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Goldman estimates that the public holds about $2.6 trillion of gold for investment purposes, assuming a gold price of $1,800 per troy ounce. Bitcoin’s float-adjusted market capitalization is currently just under $700 billion, Pandl wrote, adding that this implies Bitcoin currently commands an approximate 20% share of the “store of
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Blockchain technology is central to the development of the metaverse and Web 3, Goldman Sachs said in a research report.It is the only technology that can “uniquely identify any virtual object independent of a central authority,” and this ability to identify and track ownership will be crucial to the functioning
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Goldman Sachs has taken many stances on bitcoin and cryptocurrencies at large in the past, even going as far as providing trading services to its wealthier clients. However, CEO David Solomon does not seem as keen on the digital asset. In a recent interview on CNBC’s SquawkBox, the CEO sidesteps
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