Goldman Sachs expects Bitcoin to reach $100,000.

Following a disappointing year, Banking giant Goldman Sachs recently forecast that the price of Bitcoin might reach $100,000.

Goldman Sachs has forecast that Bitcoin’s price may reach $100,000. According to the financial giant in the United States, the largest cryptocurrency presently accounts for one-fifth of the worldwide store of value market. As a result, if Bitcoin continues to eat away at gold’s market share, the price might approach six figures.

Fundstrat’s Tom Lee projected in late December that the largest cryptocurrency might surge above $200,000.

Because of the network’s fast increasing hashrate, Bitcoin enthusiast Max Keiser believes the price will reach $220,000 this year.

However, legendary investor Ray Dalio believes Bitcoin has limited upside. In a recent interview, Lex Fridman estimated that the biggest cryptocurrency’s price would be unlikely to surpass 20% of the gold market worth, excluding jewellery and central bank holdings. MicroStrategy CEO Michael Saylor, on the other hand, believes Bitcoin will reach $600,000.

While Bitcoin increased by almost 60% last year, its performance paled in contrast to most altcoins and even some significant corporations.

According to Joe Weisenthal, the Odd Lots podcast co-host, Apple stock will outperform Bitcoin in 2021 despite substantially less volatility.

Furthermore, Bitcoin’s risk-adjusted returns are significantly lower than those of real estate and the benchmark S&P 500 index.

Meanwhile, gold just had its worst year since 2015, as a worldwide economic recovery has lowered demand for the go-to secured asset. 

The Federal Reserve of the United States is projected to announce two interest rate rises this year. Many analysts believe this will be detrimental to the pricing of risk assets such as Bitcoin, which have significantly profited from extraordinary money creation.

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