Wall Street is known to be skeptical about cryptocurrencies, but Goldman Sachs makes some optimistic predictions about the outlook for Bitcoin.
The bank said the $ 100,000 price milestone, often touted by digital coin advocates, is very likely as gold continues to gain market share.
Goldman said that while bitcoin’s natural resource consumption could pose a barrier to institutional acceptance, it would not affect demand for the asset.
Bitcoin is currently trading at around $ 46,000 after hitting a new high of $ 69,000 last year.
5 things to get the day off to a good start
1) New energy crisis talks as the cold spell drives up gas prices The economy minister is trying to avoid another series of supplier breakdowns after the crisis last year
2) Highest paid Clifford Chance partner takes home a record Â£ 3.2m The Magic Circle firm’s highest-paid attorney’s share of profits rose a fifth over the past year amid a deal boom
3) Twitter bans popular news aggregator Politics For All The social media company said the decision was due to violating its rules for manipulating the audience
4) Pound sterling to hit â¬ 1.20 as the prospect of a rate hike in February rises Pound hits two-year highs against the common currency and is gaining ground against the dollar
5) British Lithium is one step closer to British production The company is now able to produce 5kg of inexpensive lithium carbonate per day to fuel the electric car industry
What happened overnight
Markets in Asia struggled on Wednesday after a weak Wall Street leadership, with inflation and expected rate hikes back on focus as Omicron fears ease for the moment. Wellington, Taipei and Jakarta rose along with Manila, where trading resumed after being canceled on Tuesday due to a technical glitch. Tokyo was flat with the yen holding its losses against the dollar at a four-year low.
- Company: No scheduled updates
- Business: Final services and compound PMI (Eurozone, France, Germany, USA), ADP job change, FOMC protocol (US)