Goldman Sachs predicts that Ethereum could reach $ 8,000 this year - old coins
Goldman Sachs predicts that Ethereum could reach $ 8,000 this year - old coins
The global investment bank Goldman Sachs reports reported that the price for Ether could increase to $ 8,000 by the end of the year. The analysts of the bank said that cryptocurrencies have been traded in harmony with the inflation breakers since 2019.
According to Goldman Sachs,Ether could reach
by the end of the yearGoldman Sachs has supposedly explained in one of the Global Markets Manager, Bernhard Rzymelka, Research Note that the price of ether ( eth ) could reach 8,000 US dollar by the end of the year. According to Zerohedge, cryptocurrencies have been traded in harmony with inflation breakeval since 2019.
With reference to a diagram that shows the Bloomberg Galaxy Crypto Index (red) on a logarithmic axis and the 2-year USD 2-year inflation sewap (blue), the analysts from Goldman found that "the local background for Ethereum looks supporting".
The analysts added: "It has followed the inflation markets particularly precisely, which probably reflects the pro-oklical nature as a 'network-based' system. And the last increase in inflation break-even indicates an upward risk if the leading relationship of the latest episodes should remain (gray circles)." They further pointed out:
This fits well with the Ethereum chart.
The Goldman note continues: "The market has started to press against the all-time high with a narrowing wedge: either a sign of exhaustion and the highlight ... or the starting point of an accelerating rally in the event of a breakthrough." The analyst also found that "the RSI has not yet reached the overbought levels of the past market highs".
If the historical correlation continues with inflation death mate, the price for Ethereum could increase up to $ 8,000 in the next two months, according to the publication.
Goldmans ETH The price forecast is higher than a current forecast of the committee of 50 fintech-specialists from Finder.com. The price comparison portal The updated Ethereum prize forecast last week, which shows that the experts expect ETH to the end of the year 5.114 USD, until 2025 USD and reach $ 50,788 by 2030.
The price of ETH is 4,324.98 US dollar and its market capital is 511.16 millions of US dollars, Based on data from bitcoin.com-markt . Ether met a All-time high on October 28th. It has increased by 5.5% in the last seven days and 30.7% in the last 30 days.
The global investment bank officially founded A crypto trading team in May and started Bitcoin-derivate trade in the same month. In June, Mathew McDermott, the head of the Digital Assets division, that Goldman Sachs Plant, Plant, to offer the trade with futures and options eth in the coming months.
In July, the analysts of the bank Ether looked "as the cryptocurrency with the highest real usage potential, because Ethereum, the platform, the platform, who is the native digital currency that is the most popular development platform for smart contract applications. ”
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