Goldman Sachs believes that Bitcoin will increase its share of the savings market and reach the $100,000 mark over the next five years.
Analysts at the investment bank Goldman Sachs believe that Bitcoin can rise in price to $100,000 over the next five years, Bloomberg reports. The bank's experts estimate that the first cryptocurrency currently has a 20% share in the market for savings means, which consists of Bitcoin and gold.
According to analysts' forecast, in the coming years, the cryptocurrency may increase its share in the market for savings funds up to 50%. In this case, the value of the main digital asset will exceed $100,000, Goldman Sachs is sure. The bank also expressed confidence that the Bitcoin rate will continue to grow, despite the fears of institutional investors about the impact of cryptocurrency on the environment.
As of this writing on January 5, Bitcoin is trading at $46,500 per coin. Over the week, the cryptocurrency fell 2%, and its capitalization dropped to $881 billion, according to CoinGecko. On November 10, Bitcoin hit an all-time high above $69,000.
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Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.