Two of America’s largest banks are urging crypto investors to remain cautious around the upcoming Bitcoin halving, which analysts believe may not play out much like prior cycles.
The analyst used the price of gold as a reference point, as both assets share a similar investment thesis as a risk-off store of value and inflation hedge. On a volatility-adjusted basis, the bank argued that Bitcoin’s price should only be $45,000, meaning its current market price is significantly overbought.
This cycle looks even more different: Bitcoin already topped its previous cycle’s all-time high above $69,000 in March, one month before the halving even occurred.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks making the biggest moves midday: Tesla, Goldman Sachs, Salesforce and moreThese are some of the stocks posting the largest moves in midday trading.
Source: CNBC - 🏆 12. / 72 Read more »
Goldman Sachs Expects Stronger Results in 2024Analysts predict Goldman Sachs to report earnings per share of $8.56 and revenue of $12.92 billion. The company's CEO, David Solomon, spoke about the company's performance at the World Economic Forum Annual Meeting in Davos. Despite previous challenges, Goldman Sachs posted better-than-expected trading results and a rebound in investment banking fees in the first quarter. The company's focus on its asset and wealth management division is expected to drive growth.
Source: CNBC - 🏆 12. / 72 Read more »
Goldman Sachs Expects Stronger Results in Q1Analysts predict that Goldman Sachs will report earnings per share of $8.56 and revenue of $12.92 billion in the first quarter. The company is expected to show improved trading results and a rebound in investment banking fees. However, concerns remain about the impact of the company's push into retail banking and the potential escalation of conflict in the Middle East.
Source: nbcsandiego - 🏆 524. / 51 Read more »