Although the leading cryptocurrency Bitcoin (BTC) has experienced a sharp correction, optimistic forecasts continue to emerge. According to a Bloomberg report earlier in the day, Goldman Sachs predicts that a $100,000 price target in Bitcoin is possible.
The US banking giant estimates that the leading cryptocurrency currently accounts for one-fifth of the “global store of value” market. Therefore, if it continues to take the market share of gold, Bitcoin price could reach the six-digit region.
“BTC Price May Exceed $100,000”
The comments of Goldman Sachs analysts, which gave great excitement to crypto money investors, have not yet affected the activity in the market. However, the positive evaluations and high price predictions from analysts gave investors hope again. According to Goldman Sachs analysts, even if BTC increases its share in the store of value market with a 50% probability in the next 5 years, the price of Bitcoin can easily rise above the level of 100 thousand dollars.
Goldman Sachs investment bank, which is made up of experienced analysts, also noted that there are some reservations in institutional acceptance of Bitcoin as it harms the environment. Especially due to high electricity consumption, the desired acceleration in BTC adoption rate cannot be seen. Goldman Sachs analysts said that despite this, there will be no decrease in the demand for Bitcoin and that BTC purchases will increase from 2022.
The fact that Bitcoin broke the all-time high price level months before 2022 and recorded a new ATH at the price levels of $ 69,000 created an expectation that the leading cryptocurrency in the market will complete 2021 above the price levels of $ 100,000. During this time, many crypto analysts were wrong about their price predictions for the beginning of 2022. The year-end expectation of PlanB, which had made very close determinations in monthly closings many times before, was also in vain. Bitcoin gained a downward momentum right after recording new ATH levels and continued this downward trend for months.
While some crypto analysts stated that the $100,000 price target in Bitcoin was only three or four months late and that BTC could reach the price targets in 2022, some analysts stated that they do not expect a bullish season in 2022.