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Goldman Sachs Skeptical About Bitcoin Growth Post-Halving

Goldman Sachs Skeptical About Bitcoin Growth Post-Halving

Explore Goldman Sachs' analysis on the upcoming Bitcoin halving and why they believe it won't mirror past market surges.
1 minutes
17.04.2024
Editor Satoshi`s Secrets
Goldman Sachs Skeptical About Bitcoin Growth Post-Halving

In Brief

Goldman Sachs analysts caution that the upcoming Bitcoin halving may not lead to significant growth due to current high inflation and interest rates, along with a lack of expansion in the M2 money supply from major central banks. They advise against comparing this halving to previous cycles where different economic conditions spurred market rallies.

Analysts at Goldman Sachs are advising clients to temper their expectations for Bitcoin’s growth following the upcoming halving, warning that it should not be compared to market reactions in past cycles.

Read more about the Bitcoin halving in our article

Key Reasons for Caution

  1. Changed Macroeconomic Environment: Unlike previous cycles, the current global economic landscape features high inflation and interest rates. These factors could dampen the traditional bullish momentum typically seen after a Bitcoin halving.
  2. Stagnation in Money Supply Growth: In past halving events, the rapid expansion of the M2 money supply by major central banks—including the Federal Reserve, the European Central Bank, the Bank of Japan, and the People’s Bank of China—played a crucial role in fueling bullish trends in the cryptocurrency market. Currently, such expansion is not occurring, which may lead to a less favorable environment for Bitcoin’s growth post-halving.

Goldman Sachs highlights these significant differences as pivotal factors that might lead to a deviation from the expected post-halving surge, suggesting investors approach with caution and consider the broader economic context in their investment strategies.

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