Bitcoin, which lost value at high rates in the last months of 2021, gained a downward momentum contrary to the general expectation in the market, especially the rise predictions of expert analysts on the subject. After Bitcoin recorded ATH levels of $ 69,000, the price target of $ 100,000, which was spoken, became far from being a realistic target in the short term, as the leading cryptocurrency regressed to the price levels of $ 42,000.
Goldman Sachs: $100,000 Price Target Possible in Bitcoin
According to Goldman Sachs, a US-based multinational investment bank, Bitcoin will continue to take market share from Gold as digital assets become more widely adopted, making the $100,000 price expectation of BTC in BTC a possibility.
Pointing out that Bitcoin already accounts for 20% of the store of value market, Goldman Sachs stated that the investable market value of Gold is $2.6 trillion. Goldman Sachs also added that the amount of energy consumed by the Bitcoin network is a barrier to institutional acceptance, but that this will not reduce demand for the leading cryptocurrency.
Can Bitcoin Exceed $100,000 Price Levels in 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.
The information contained in this article does not constitute investment advice. Investors should know that cryptocurrencies carry risks due to their high volatility and should perform their transactions in line with their own research.