• bitcoin
    Bitcoin(BTC)
    $0.00 4.63%24H
  • ethereum
    Ethereum(ETH)
    $0.00 7.65%24H
  • binance-coin
    Binance Coin(BNB)
    $0.00 8.29%24H
  • usd-coin
    USD Coin(USDC)
    $0.00 -0.04%24H
  • cardano
    Cardano(ADA)
    $0.00 5.58%24H
  • chainlink
    Chainlink(LINK)
    $0.00 7.66%24H
  • bitcoin-cash
    Bitcoin Cash(BCH)
    $0.00 5.04%24H
  • stellar
    Stellar(XLM)
    $0.00 4.19%24H
  • vechain
    VeChain(VET)
    $0.00 7.84%24H
  • tezos
    Tezos(XTZ)
    $0.00 5.65%24H
  • eosdac
    eosDAC(EOSDAC)
    $0.00 3.34%24H
Crypto Currency Bazaar 4u: Today’s Latest Worldwide News on Cryptocurrency Market delivered to the last minute, Live Crypto Price Data and Indexes, Crypto Investment & Finance opportunities & Blockchain projects, Global Crypto Classifieds
  • INVESTMENTS
    • Crypto General
    • Masternodes
    • Mining Projects
    • NFTS Investments
    • Invest In ICO
    • Exchanges
    • Staking Yeild Farming
  • WORLD
  • USA
  • CANADA
  • JAPAN
  • UK
  • UAE
  • INDIA
  • MORE
    • BRAZIL
    • AUSTRALIA
    • EL SALVADOR
    • CENTRAL AMERCIA
    • SOUTH AMERICA
    • AFRICA
    • EUROPE
    • ASIA
    • OCEANIA
    • ICO
  • Login
  • BLOCKCHAIN
  • BITCOIN
  • ETHEREUM
  • NFTS
  • ALTCOIN
  • MINING
  • VIDEOS
  • LIVERATES
  • SHOP
  • CLASSIFIEDS
  • ADVERTISE
  • SUBMIT PRESS RELEASE
HealthNews
No Result
View All Result
Home EXCHANGES

Goldman Sachs reveals how Bitcoin can reach $100k in 2022

CB4U by CB4U
January 7, 2022
in EXCHANGES
0
Goldman Sachs reveals how Bitcoin can reach $100k in 2022
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

Goldman Sachs, through its recently released note to clients, has stated that Bitcoin could reach as high as $100k in this year.

Bitcoin to $100k will happen if investors see it as digital gold

According to the global investment bank, its prediction depends largely on how investors treat Bitcoin this year. This means that if investors were to accept the notion that the flagship cryptocurrency is digital gold, then the asset’s value could balloon astronomically.

Goldman Sachs continued that the float-adjusted market cap of BTC stands at around $700 billion. This is roughly 20% of the “store of value” market which is dominated by the coin and gold. 

With the “store of value” market worth over $2 trillion, the co-head of global foreign exchange strategy at Goldman Sachs, Zach Pandl, is of the opinion that Bitcoin could get to $100k if its share of the “store of value” market were to rise to 50%.

In his words:

“We think that comparing its market capitalization to gold can help put parameters on plausible outcomes for bitcoin returns.”

The research note also conceded that the digital asset industry was not just about Bitcoin while also highlighting the fact that BTC “may have applications beyond simply a ‘store of value’.”

Goldman Sachs highlight Bitcoin energy usage

Speaking on Bitcoin energy consumption, the Goldman Sachs analyst pointed out that the network’s current energy consumption might hinder its adoption by institutional investors. 

A previous CryptoSlate report has shown that the energy concerns about the coin have not dissuaded institutional investors who invested over $6 billion on the asset last year.

However, it is important to note that Bitcoin mining has become a cogent issue amongst countries looking to reduce their carbon emissions.

In Kazakhstan for example, protesters are beginning to mount pressure on the government for the rising electricity bills which have forced telecom service providers to shut internet services cutting off miners within the country.

Can Bitcoin outperform stocks?

Bloomberg’s strategist Mike McGlone believes that Bitcoin could outperform stocks this year, despite the fact that the digital asset has begun the year in a downward trend.

According to the Bloomberg analyst, the Federal Reserve’s decision to raise the interest rate of this year could lead to a “win-win scenario for Bitcoin [versus] the stock market.”

Per his statement:

“Cryptos are tops among the risky and speculative. If risk assets decline, it helps the Fed’s inflation fight. Becoming a global reserve asset, Bitcoin may be a primary beneficiary in that scenario.”

Posted In: Bitcoin, Analysis

CryptoSlate Newsletter

Featuring a summary of the most important daily stories in the world of crypto, DeFi, NFTs and more.

Get an edge on the cryptoasset market

Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits

Advertisement Banner
Previous Post

Is BitMEX Legal? – CoinDiligent

Next Post

Bitcoin Fear And Greed Index Has Dipped To Lows Not Seen Since July

CB4U

CB4U

Next Post
Bitcoin Fear And Greed Index Has Dipped To Lows Not Seen Since July

Bitcoin Fear And Greed Index Has Dipped To Lows Not Seen Since July

Discussion about this post

RECOMMENDED

Three Arrows Capital is Not Registered in Dubai, Confirms Regulator

Three Arrows Capital is Not Registered in Dubai, Confirms Regulator

8 months ago
New Report Predicts USDC To Soon Replace USDT, What’s The Ground Reality?

New Report Predicts USDC To Soon Replace USDT, What’s The Ground Reality?

7 months ago

DON'T MISS

U.S. Democrats Seek More Info On Federal Crypto Mining Data Collection

U.S. Democrats Seek More Info On Federal Crypto Mining Data Collection

February 9, 2023
US SEC Running Without Congress Authorization?

Crypto Market Crackdown In The US

February 9, 2023
Microsoft to Integrate ChatGPT into Bing…Google Responds with Bard

Microsoft to Integrate ChatGPT into Bing…Google Responds with Bard

February 9, 2023
SALT Lending converts $64M debt – plans to restart in Q1 2023

SALT Lending converts $64M debt – plans to restart in Q1 2023

February 9, 2023
Crypto Currency Bazaar 4u: Today’s Latest Worldwide News on Cryptocurrency Market delivered to the last minute, Live Crypto Price Data and Indexes, Crypto Investment & Finance opportunities & Blockchain projects, Global Crypto Classifieds

The Cryptocurrency Bazaar 4U was founded in 2020 for providing the most trusted information for the Crypto enthusiasts covering a broad range of news about blockchain technology, cryptocurrency assets, emerging fintech trends in the decentralized space, and other related wide array of information surrounding this emerging technology.Our team provides the most up-to-date and accurate news from different sources in this space comprising of unbiased news, in-depth analytics, detailed cryptocurrency price charts, and insightful opinion pieces is the basis of our editorial content.

POPULAR POSTS

U.S. Democrats Seek More Info On Federal Crypto Mining Data Collection

U.S. Democrats Seek More Info On Federal Crypto Mining Data Collection

February 9, 2023
US SEC Running Without Congress Authorization?

Crypto Market Crackdown In The US

February 9, 2023
Microsoft to Integrate ChatGPT into Bing…Google Responds with Bard

Microsoft to Integrate ChatGPT into Bing…Google Responds with Bard

February 9, 2023

Categories

  • AFRICA
  • ALTCOIN
  • ASIA
  • AUSTRALIA
  • BITCOIN
  • BLOCKCHAIN
  • BRAZIL
  • CANADA
  • CENTRAL AMERCIA
  • CRYPTO GENERAL
  • EL SALVADOR
  • ETHEREUM
  • EUROPE
  • EXCHANGES
  • ICO
  • INDIA
  • INVERST IN ICO
  • INVESTMENTS
  • JAPAN
  • MASTERNODES
  • MINING
  • MINING PROJECTS
  • NFTS
  • NFTS INVESTMENTS
  • OCEANIA
  • SINGAPORE
  • SOUTH AMERICA
  • STAKING & YEILD FARMING
  • UAE
  • UK
  • Uncategorized
  • USA
  • VIDEOS
  • WORLD
  • CONTACT US
  • DISCLAIMER
  • PRIVACY POLICY
  • ABOUT US
  • CLASSIFIED
  • ADVERTISE
  • SUBMIT PRESS RELEASE

© cryptocurrencybazaar4u.io

No Result
View All Result
  • BLOCKCHAIN
  • BITCOIN
  • ETHEREUM
  • NFTS
  • ALTCOIN
  • MINING
  • VIDEOS
  • LIVERATES
  • SHOP
  • CLASSIFIEDS
  • ADVERTISE
  • SUBMIT PRESS RELEASE

© cryptocurrencybazaar4u.io

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoin
    Bitcoin(BTC)
    $0.00 4.63%24H
  • ethereum
    Ethereum(ETH)
    $0.00 7.65%24H
  • binance-coin
    Binance Coin(BNB)
    $0.00 8.29%24H
  • usd-coin
    USD Coin(USDC)
    $0.00 -0.04%24H
  • cardano
    Cardano(ADA)
    $0.00 5.58%24H
  • chainlink
    Chainlink(LINK)
    $0.00 7.66%24H
  • bitcoin-cash
    Bitcoin Cash(BCH)
    $0.00 5.04%24H
  • stellar
    Stellar(XLM)
    $0.00 4.19%24H
  • vechain
    VeChain(VET)
    $0.00 7.84%24H
  • tezos
    Tezos(XTZ)
    $0.00 5.65%24H
  • eosdac
    eosDAC(EOSDAC)
    $0.00 3.34%24H
en English
en Englishja Japaneseko Koreantl Filipinovi Vietnamesehi Hindibn Bengalita Tamilzu Zulusw Swahilide Germanfr Frenches Spanishpt Portugueseru Russian