Goldman Sachs allowed bitcoin to rise to $100,000

Bitcoin continues to fall - the price of the main cryptocurrency has fallen below the $42,000 mark, altcoins are also suffering losses. One of the reasons for the fall in the rate and sales may be the disconnection of the Internet mining centers in Kazakhstan
Bitcoin price, according to CoinMarketCap, has fallen over the past 24 hoursThe bitcoin was up 3.25 percent to $41,751. At the beginning of the month, bitcoin was worth $47,000.

Over the past week, the price of bitcoin has fallen 11.4%, with about $41,800 per coin, down from $47,000 at the beginning of the week. On Thursday, the price of bitcoin dipped to nearly $42,000. Some experts attribute the new cryptocurrency sell-off to the shutdownThe cryptocurrency exchange rate has returned to its September 2021 level. The rate of cryptocurrency returned to the indicators of September 2021.

During the week, the value of other cryptocurrencies also declined. Thus, Ethereum lost 13.2% in price during the week, falling in price to $3200. Market capitalizationEthereum fell from $451 billion to $386 billion, bitcoin - to $795 billion. Solana rate fell to $138.8, 18.2%, Shiba Inu - 14% (to $0.00002903), Dogecoin - 10.3% ($0.1523).

According to, over $810 million worth of positions were liquidated in the cryptocurrency market during the previous day. on bitcoin futures alone, traderThe futures market lost $317 million; 87% of the liquidated positions were long. The same ratio was noted for futures of other cryptocurrencies. There were liquidations of $241 mln on OKEx, $236 mln on Binance. Compared to December, the volume of active positions on the futures market decreased by 15%.

Bitcoin could reach a value of $100,000, Goldman Sachs predicted. It believes this is possible if the cryptocurrency can take market share away from gold. Bitcoin rose to a record high of nearly $69,000 in November, but fell to its lowest since September in early January
The value of bitcoin could rise to $100,000, Bloomberg wrote, citing analysts at Goldman Sachs. According to the bank, the value of the most popular cryptocurrency could rise if bitcoin can take market share away from gold - It is traditionally considered a "safe" asset in which investors invest during market turmoil.

The market capitalization of bitcoin, adjusted for turnover, is now slightly less than $700 billion, Goldman Sachs estimates. That's about 20% of the total market share that bitcoin and gold have together: the value of gold in the market is estimated at $2.6 trillion, Bloomberg wrote. If bitcoin's share of that tandem "hypothetically" rises above 50% in the next five years, its price will exceed $100,000, and the aggregateThe agency cited the forecast of Goldman Sachs co-head of global foreign exchange, interest rates and emerging economies Zach Pandle.

The Goldman Sachs expert noted that bitcoin will rise in price due to the increasing popularity among institutional investors. An obstacle to the process may be the high consumption of resources to run the bitcoin network, but the demand for the asset, this circumstance will not stop, quoted Pandla Bloomberg. Bitcoin's disadvantages are similar to those of gold: no interest or dividends are paid on bitcoins, the agency added.
In early November, bitcoin renewed its record value, rising to nearly $69,000. Since then, however, the cryptocurrency's value has mostly fallen. The day before, the bitcoin rate fell below $41,000 - to its lowest since September 2021. The cryptocurrency lost 40% of its value in three months, Reuters noted. Bitcoin and other cryptocurrencies are now considered risky assets, investmentThe following is an analysis of the eToro trading platform, Kalli Cox.

According to Todd Morakis, co-founder of digital financial services provider JST Capital, the decline in bitcoin's value was caused, among other things, by the unrest in Kazakhstan, which became a major cryptocurrency mining hub after China tightened regulation. CNBC warned that miners could shut down operations in Kazakhstan after protests in the country shut down the Internet and with it up to 15 percent of the global bitcoin network..

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