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HomeCryptoBitcoin prices fall but Goldman Sachs predicts it could hit $100,000

Bitcoin prices fall but Goldman Sachs predicts it could hit $100,000

The most valuable in the world Cryptocurrency It fell to about $ 43,000 After soaring to a record high of nearly $ 69,000 in November.not yet Goldman Sachs ((((GS). In this week’s report, he said: Bitcoin ((((XBT). Within the next five years, it could more than double and more than $ 100,000 per coin.

“Bitcoin’s market share has become a by-product of widespread adoption of digital assets over time,” Zack Pandle, co-head of Goldman Sachs’ global forex, rates and emerging market strategies, said in a report. I think it’s likely to rise. “

Pandl claims that Bitcoin is increasingly taking away market share gold, Stalling at about $ 1,800 per ounce.

He said Bitcoin currently occupies about 20% of the so-called “store of value” market. This is a term used to describe gold, Bitcoin, and other alternative assets such as currencies and commodities whose prices do not fall significantly over the long term. period.

Pandl believes that Bitcoin could eventually occupy 50% of the value market stores. This will increase Bitcoin by about 17% to 18% each year over the next five years, potentially exceeding the $ 100,000 level.

“I think comparing market capitalization to gold will help us to parameterize the plausible results of Bitcoin returns,” Pandle added.

Of course, with Bitcoin Other top crypto Ethereum, Binance, Solana, Meme token Like Dogecoin and Shiba Inu, the past year has been very volatile. At the moment, crypto is more like a stock than a currency.
Still, more and more top fund managers are investing in Bitcoin, including Stanley Druckenmiller, Paul Tudor Jones and George Soros.Regulatory approved Exchange Traded Fund It also tracks Bitcoin futures prices, allowing individual investors to dive even more easily.

— Michelle Toh contributed to this report.


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