Goldman Sachs warns that Bitcoin is increasingly susceptible to FED-interest increases because the mainstream acceptance is growing-
Goldman Sachs warns that Bitcoin is increasingly susceptible to FED-interest increases because the mainstream acceptance is growing-
The global investment bank Goldman Sachs has warned that Bitcoin is increasingly susceptible to the interest rate of the Federal Reserve, since the cryptocurrency is becoming increasingly widespread. "In the past two years, when Bitcoin has experienced a broader acceptance in the mainstream, his correlation has increased with macro-assets," said the Goldman Analysten.
Goldman Sachs warns that Bitcoin is increasingly susceptible to fed interest rate increases
The global investment bank Goldman Sachs published A Research Note the Thursday in which Bitcoin's increased susceptibility to the interest rate of the Federal Reserve is described.
Zach Pandl, co-manager of the bank strategy of the bank, and foreign exchange analyst Isabella Rosenberg explained that with the increasing acceptance of Bitcoin by the mainstream, the susceptibility of cryptocurrency for fed policy increases. They described:
In the past two years, when Bitcoin has received a broader acceptance in the mainstream, his correlation has increased with macro-assets.
The analysts found that the higher bonded sincers have had a impact on technology shares in the past few weeks, with the NASDAQ 100 index fell by more than 13 % in the course of the year and found: "Bitcoin and other digital assets probably suffered from the same forces ... These assets will not be immune to macro-economic forces, including a monetary policy Tightening through the central bank. “
The markets now expect that the Fed will raise interest rates five times this year. Goldman Sachs believes that the Fed could increase interest at every session this year. The Post-Meeting Declaration of the Federal Open Market Committee (FOMC) from last week did not indicate a specific time for the time of the increase, although there are signs that this could happen as soon as the March session .
The analysts from Goldman continued:
Over time, the further development of blockchain technology, including applications in the meta verse, could give the ratings of certain digital assets a secular tailwind.
Recently Goldman Sachs said that the metaverse could be 8 trillion dollar chance . The competing investment bank Morgan Stanley also estimated a comparable size for the metaverse.
At the beginning of this month, Goldman Sachs predicted that Bitcoin could reach $ Since the cryptocurrency continues to take the market share of gold. Meanwhile, the largest bank in Switzerland, the UBS, has warned before a target = "_ blank" href = "https://news.bit.com/ubs-crypto-winter-fed-hikes-regulation/" Rel = "noopener"> Krypto-Winter In the middle of the expectations of fed and regulation increases. At the time of writing this article, Bitcoin is traded at Bitcoin.com Markets at $ 37,502. The crypto has increased by 6.6 % in the past seven days, but has fallen by 20.5 % in the past 30 days. However, it has still increased by 9.8 % for the year.
A current report by Crypto.com shows that the number of global crypto leader Year the 1 billion mark is exceeded.
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