BitXplosion (OP)
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January 08, 2022, 04:13:40 PM |
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If Bitcoin's gains in 2021 weren't enough, just wait until 2022. Goldman Sachs predicts that Bitcoin could reach $100k in 2022 if it continues to overtake gold’s market share. If you haven't invested in Bitcoin already, it could be the best time to get on board with Goldman Sachs' forecast. "Bitcoin has all the makings of being a disruptive, digital currency that could one day replace gold as the world’s most popular store of value. The global investment banking giant, Goldman Sachs (NYSE:GS), released its price forecast for Bitcoin in 2022, stating the possibility of $100k. Despite its 60% gains in 2021, Bitcoin did not meet many expectations as it failed to break above $100k. Goldman Sachs predicted that Bitcoin could reach $100k in 2022 if it continues to overtake gold’s market share. Approximately 2 percent of gold’s market cap ($700 billion) is held by the public. Goldman estimates that the public holds about $2.6 trillion in gold as an investment." Read the full announcement at https://bitexplosion.io/bitcoin-price-forecast-by-goldman-sachs-100000-in-2022-will-the-cryptocurrency-break-out-of-the-bubble/
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LeGaulois
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January 10, 2022, 03:06:34 PM |
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It's based only on estimations, and an important point you didn't mention is, he added IF there is no growth in overall demand for stores of value, which is not likely to happen when we see the condition of the markets at the moment. There are many more people who are going to look for safe-havens.
The financial system is not immune to a markets crisis and the countries know this. That's why they continue to buy gold in mass, like Russia, Turkey, GB, the US, and so on.
If Bitcoin's price goes up in 2022 it will be caused by the adoption from people and institutions not because people want to use it as a store of value. Because Goldman Sachs says something doesn't mean they are right. Speculations like this, we see them every week. None of them come back to admit they were wrong and when they're right you can see them bragging on Twitter lol
As for the point saying the cryptocurrency accounts for 20% of the total store of value market, I would like to see how they do the maths...
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bittraffic
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January 10, 2022, 03:24:13 PM |
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It's forecast like these that make people lose money because it's the opposite that's happening. But when there is bad news in the industry, it's where the prices go up too. Ever notice this too? It creates confusion instead as if it's thier goal to confuse naive investors after seeing thier money didn't shoot to the moon.
Experience will always tell me to just invest when the trend is right on and currently happening but when there is a confusing market where no one has yet had learned whether we are going to bear or bull, it's best to just leave Goldman sucks prediction alone.
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Ararbermas
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January 12, 2022, 11:30:52 AM |
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They're a good influencer to be honest but the fact that even year 2021 there's already a bunch of analyst saying that 100k is possible to happen on bitcoin. For me in my personal opinion maybe they're following as well which is trusted and much accurate when it comes making prediction. Because you know they're just a big investors but don't know how the market really works.so for sure they have good personnel when it comes the market thats why its easy for them to say that kind of words. Perhaps its the right decision to follow them as well.
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mk4
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January 12, 2022, 11:35:54 AM |
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If anyone's still listening to "price forecasts" especially with an asset like bitcoin in 2022, then I don't even know what to say; especially "forecasts" from a company like Goldman Sachs lol. If there's something I've learned with bitcoin throughout the years, bitcoin tends to heavily surprise people regardless if it's in the upside or downside.
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Husires
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January 12, 2022, 01:37:23 PM |
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Expectations are always based on market data and not on a single variable, such as if it continues to exceed the share of gold in the market, something that cannot be accurately calculated or estimated. - If Bitcoin fails to maintain $20k, there is a problem.
- If Bitcoin not breaking $100k that does not mean anything.
Bitcoin has grown over the past years, and therefore the failure to achieve $100k in 2022 does not mean that it has failed, and the failure can be measured relatively by moving away from $20k in 2022 to XXXX, which is the bottom over the past year.
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Jating
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January 13, 2022, 04:00:20 PM |
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And we have to understand where there prediction is coming from, perhaps they have a huge clientele of bitcoin investors so it make sense for them to make a sales pitch like this one to somewhat bring more customers for them.
But we all know that 6 digits is doable, it's just a matter of time, it could be this 2022 or the next coming years. If we remains bullish this year then maybe we have a good chance to hit $100k or even more.
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tbct_mt2
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January 14, 2022, 01:50:36 PM |
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Forecast is forecast and it has lot of assumptions which never be true. I only see growth for Bitcoin with support from bigger adoption, from Lindy effect. Willy Woo mentioned about Lindy effect in his tweet: https://twitter.com/woonomic/status/1480778557001711618Vijay wrote an article in which he mentioned about Lindy effects, years ago. The Bullish case for BitcoinLindy effect is proven so Bitcoin will follow it and I consider 13 years are long enough to begin on track with Lindy effect.
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Yaunfitda
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January 14, 2022, 02:20:06 PM |
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Nah, this is just another forecast not to be taken seriously, I mean the one making the forecast in one of the biggest bank in the world. So it's difficult to trust them, and we all know that most of the time when we heard about this predictions coming from institutions, it means that the price could go down very hard and there are people that is going to manipulate it for their own benefits, just saying.
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tygeade
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January 14, 2022, 02:22:34 PM |
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Goldman estimates that the public holds about $2.6 trillion in gold as an investment."
Bitcoin was trading above $1 trillion marketcap when it was trading above $64k price levels but now bitcoin's marketcap is around 800 billion. I guess Goldman sachs expect public to sell off their gold savings for the reason of investing into bitcoins only then bitcoin's marketcap will beat gold's "public part" marketcap. But, I am seeing only 10% to 20% of such switch over may take place as most people still prefer gold over bitcoin due to lesser volatility. Another reason for public to continue their gold saving is, they may want to ensure about diversification even they adapt bitcoin in their portfolio. Goldman Sachs predicts that Bitcoin could reach $100k in 2022 if it continues to overtake gold’s market share.
Regardless of overtaking gold's market share, I believe bitcoin will get into $100k levels this year when more of such institutions will be releasing the positive speculations on bitcoin's future ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) .
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Poker Player
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January 14, 2022, 03:44:23 PM |
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Well, I'd rather Goldman Sachs say that than say that Bitcoin is a scam, as they used to do, but, anyway, they make the prediction themselves conditional: Goldman Sachs predicted that Bitcoin could reach $100k in 2022 if it continues to overtake gold’s market share.
I think that after last year's result, most of us on the forum are skeptical of the predictions, and it shows in the responses to these threads.
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Lucius
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January 14, 2022, 03:56:09 PM |
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If anyone's still listening to "price forecasts" especially with an asset like bitcoin in 2022, then I don't even know what to say; especially "forecasts" from a company like Goldman Sachs lol. If there's something I've learned with bitcoin throughout the years, bitcoin tends to heavily surprise people regardless if it's in the upside or downside.
These bankers are just repeating the same story that JPM repeated like a broken record last year - the price of BTC will reach the price of $100k or so if it manages to become a competitor to gold as if that was the only reason the price would one day reach six-digit numbers. Of course, these investment bankers are only interested in whether they will have Bitcoin reserves instead of gold reserves, and the only positive thing in all this is that they are far behind all those who turned out to be much smarter than them. While some may like what bankers are saying, remember who it really is and what they are willing to do for profit.
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jaberwock
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January 14, 2022, 05:04:36 PM |
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Nah, this is just another forecast not to be taken seriously, I mean the one making the forecast in one of the biggest bank in the world. So it's difficult to trust them, and we all know that most of the time when we heard about this predictions coming from institutions, it means that the price could go down very hard and there are people that is going to manipulate it for their own benefits, just saying.
Yeah, you should never take any speculation made here seriously; because speculations are not financial advice but just a market overview from individuals to traders to analysts. Hence, not considering them as an exact prediction will help anyone who are frequent to this sub. I think that after last year's result, most of us on the forum are skeptical of the predictions
All the speculations are made here only for the informative purpose; people who treated them seriously might have learned on what they need to do when they come across a speculation by this time ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) .
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eaLiTy
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January 14, 2022, 08:22:28 PM |
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Goldman Sachs predicts that Bitcoin could reach $100k in 2022 if it continues to overtake gold’s market share. If you haven't invested in Bitcoin already, it could be the best time to get on board with Goldman Sachs' forecast. The only questions everyone will be having is whether we will see the price of BTCitcoin crossing $100k during this rally and that is a million dollar question that no one can predict. Goldman Sachs is predicting that the price could reach those valuation this year, everyone can make that prediction. "Bitcoin has all the makings of being a disruptive, digital currency that could one day replace gold as the world’s most popular store of value. BTCitcoin is disruptive digital currency but it will not replace gold as store of value, no one in the right sense will invest in a highly volatile asset and expect that to be a store of value ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) .
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OgNasty
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January 14, 2022, 10:47:57 PM |
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I liked it better when these big banks were bearish on Bitcoin. Now you know they've switched gears into pump mode because they've already filled their bags and want you to dump your money into their investment funds so they can rake in management fees. The more they pump, the more the management fees on their bags are worth. That scares me because once they've sold all the BTC in their bags to investors and talked the price up as high as they can, they short and crash. You won't want to be around for that... The next leg up might be the one to sell.
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January 15, 2022, 05:48:57 AM |
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If anything I consider this to be bearish and it means that bitcoin won't hit $100K. These Goldman Sach are not your friends. I remember I used to read their analysis back in my old stock days regarding certain stocks and commodities and most of the time their analysis was never correct.
If anything they are correct half the time and the other time they are incorrect. So its pointless reading what ever analysis they point out. If they had some real knowledge that some event will happen and bitcoin will hit $100K, they wouldn't let the public know about it, they would just buy it themselves.
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justdimin
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January 16, 2022, 01:03:32 PM |
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Goldman Sachs predicts that Bitcoin could reach $100k in 2022 if it continues to overtake gold’s market share. If you haven't invested in Bitcoin already, it could be the best time to get on board with Goldman Sachs' forecast.
I do not think that money in this world which are intended to take bitcoin to $100k levels are already locked in gold and only with the help of the same funds, we can take bitcoin to $100k levels. I mean even gold's market share will keep growing, I believe bitcoin will hit $100k levels as bitcoin got its own set of investors and traders due to its fundamental potential. Yeah, no need to bother about where gold is going to head up; only due to pandemic consequences we got lots of hiccups in 2021 but currently the new stain is not seeming like a threat to lives hence governments may not put lockdown restrictions and this way, world may come out of covid situations completely and bitcoin may get back to its usual market scenarios.
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hatshepsut93
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January 16, 2022, 03:13:54 PM |
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If anyone's still listening to "price forecasts" especially with an asset like bitcoin in 2022, then I don't even know what to say; especially "forecasts" from a company like Goldman Sachs lol. If there's something I've learned with bitcoin throughout the years, bitcoin tends to heavily surprise people regardless if it's in the upside or downside.
You can know that forecasts are worthless when you look back and realize that no one ever successfully predicted anything in Bitcoin. No one predicted the first rise to above $60k, no one predicted that it would touch the same ATH again and then correct. All we had last year was the "$100k in December" mantra. It was the same in the last bull cycle - "experts" were saying that Bitcoin has reached the top when it was at just $1,200, then at $3,000 and so on, but when it was hitting above $10,000 in December 2017, everyone got euphoric and though that $100k is imminent. It's better to just relax, HODL and not worry about today's or this year's price too much.
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beerlover
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January 16, 2022, 09:48:07 PM |
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Goldman Sachs predicted that Bitcoin could reach $100k in 2022 if it continues to overtake gold’s market share.
Approximately 2 percent of gold’s market cap ($700 billion) is held by the public. Goldman estimates that the public holds about $2.6 trillion in gold as an investment."
I definitely think that Goldman Sachs have been quite bullish on bitcoin for a long time. It is not a new story and they have been promoting it for a long time as well. It is quite obvious that they "want to" see it at 100k and that is why they are making speeches like that. Plus, they probably have some money in bitcoin and considering it is not their money and instead their investors money that means they also have to make public posts like this as well. So all in all, I am definitely sure that they do believe what they are saying but also even if they didn't then they had to still say these things which makes their own words not credible enough at all.
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