22% of Goldman Sachs Clients Expect Bitcoin to Hit $100K
CoinEdition
Published Mar 06, 2021 03:25AM ET
22% of Goldman Sachs Clients Expect Bitcoin to Hit $100K
- The New York-based firm surveyed 280 respondents on their perspective, exposure, and outlook of digital assets.
- 54% of the respondents predict the price of bitcoin to trade between $40,000 to $100,000 in the next 12 months.
- 22% believe that bitcoin will trade above $100,000 within the same period.
Goldman Sachs (NYSE:GS) surveyed 280 clients on the topic of digital assets. Max Milton from this New York-based firm shared the results on Thursday with 40% of the respondents exposed to cryptocurrencies.
The survey shows that 22% of respondents expect bitcoin to trade above $100,000 within the next 12 months. On the other hand, over 60% responded that they expect their digital asset to increase for the next 1 to 2 years.
Goldman Sachs also revealed that 54% of the respondents predict the price of the cryptocurrency to hover between $40,000 to $100,000 in the same period.
Meanwhile, bitcoin’s trading desk operation is set to reignite again this mid-March. It will not be trading bitcoin itself in the beginning but it is trading derivatives tied to the asset.
Goldman Sachs is setting this cryptocurrency trading desk after backing away from their past effort to enter the market when bitcoin crashed in 2018.
This desk will be a part of Goldman’s Global Markets segment. In addition to that, it is actually the bank’s largest division in terms of assets and revenue at the end of last year.
It serves as a market-maker, buying and selling securities on behalf of clients but not actively managing cryptocurrencies itself.
This article first published on coinquora.com
Continue reading on CoinQuora
Get The News You Want
Written By: CoinEdition
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.