empty
14.12.2022 02:57 PM
Goldman Sachs: Gold is better than Bitcoin.

This image is no longer relevant

At the 4-hour TF, the most significant level for bitcoin was $18,500. Still, yesterday, thanks to the inflation report, it broke through $17,582, which is already a modest victory given the current situation. The growth of bitcoin could continue for some time, reaching a value of $20,400. Reminding you once more, the "bearish" trend and the flat after the decline do not preclude bitcoin from, in theory, experiencing growth. As a result, an increase of several thousand dollars is very real. Another question is when the current collapse will end, and a new one will start, as the fundamentals of the cryptocurrency market still need to be in its favor.

For a long time, there has been a debate between crypto enthusiasts and critics about what is better: bitcoin or gold? In their report, Goldman Sachs analysts responded to this query. According to them, gold has an unquestionable advantage over "digital gold" in the long run. According to the report, the price of bitcoin entirely depends on the potential advantages for the investor and the rate of global cryptocurrency adoption in the future. As a result, changes in interest rates have a big impact on the price of bitcoin. The world's central banks have been actively raising key rates over the past year, which has caused a significant decline in speculative positions in gold and bitcoin. However, the price of bitcoin has decreased by 75% while the value of gold has remained relatively stable for the current year. Again, the question is raised: Do investors need a tool that can lose three-quarters of its value in less than a year? Is such an asset suitable for basic equity storage?

This image is no longer relevant

Analysts also point out that most holders keep their bitcoins as investments. In other words, they think bitcoin will increase in price once again. Moreover, the central banks' high rates will slow down the potential growth of cryptocurrency in the upcoming years. Although it is not currently the case, according to Goldman Sachs experts, bitcoin volatility will continue to be high until more applications for the currency are discovered. Because financial conditions are expected to remain difficult in the upcoming years, bank analysts do not anticipate a significant increase in demand for bitcoin. Bitcoin does not have as many applications as gold. Gold is purchased for reasons other than future income or capital preservation. As a result, it has much greater price stability and is safer from an investment standpoint.

The "bitcoin" quotes attempt to form a flimsy upward trend on the 4-hour timeframe, and even an upward trend line has developed. It is weak, like the recent "bitcoin" activity. However, a new sales signal with a target price of $12,426 can be viewed as a result of the consolidation of quotes below it.

Paolo Greco,
Analytical expert of InstaTrade
© 2007-2025
Earn on cryptocurrency rate changes with InstaTrade
Download MetaTrader 4 and open your first trade

Recommended Stories

Trading Recommendations for the Cryptocurrency Market on June 9

Bitcoin has reached its recently favored level of $106,500 again, even though Friday's U.S. labor market data did not support this rise. Ethereum also strengthened over the weekend, but today's

Miroslaw Bawulski 09:21 2025-06-09 UTC+2

Technical Analysis of Intraday Price Movement of Litecoin Cryptocurrency, Thursday June 05, 2025.

On the 4-hour chart of the Litecoin cryptocurrency, there is an appearance of a Descending Broadening Wedge pattern which indicates that there will be a strengthening in the near future

Arief Makmur 09:53 2025-06-05 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 5

Bitcoin is struggling to reach $106,000 less frequently and is dropping toward $104,000 more often, which is a rather concerning short-term signal. Sooner or later, this pattern could lead

Miroslaw Bawulski 09:20 2025-06-05 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 4

Bitcoin and Ethereum keep trying to break through key resistance levels but continue to face the same obstacle. On one hand, this suggests a cautious approach by major market players

Miroslaw Bawulski 09:19 2025-06-04 UTC+2

The Correlation Between BTC and Global M2 Liquidity Remains High

Bitcoin still cannot firmly hold above the $106,000 level, which raises certain concerns. While other altcoins and tokens have been performing much better, at least in recent days, the fact

Jakub Novak 09:17 2025-06-04 UTC+2

BTC/USD Analysis on June 4, 2025

The wave pattern on the 4-hour chart for BTC/USD has become more complex. We observed a corrective downward structure that completed its formation around the $75,000 level. After that

Chin Zhao 09:10 2025-06-04 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 3

Bitcoin and Ether surged strongly during Asian trading, although yesterday ended on a somewhat downbeat note. However, despite the rapid strengthening of these assets, Bitcoin once again failed to maintain

Miroslaw Bawulski 08:51 2025-06-03 UTC+2

Bitcoin's technical outlook appears promising

Bitcoin appears to have found a bottom near $104,000 and is currently trading around $104,500 in early June. It is evident that the cryptocurrency is positioned at a psychological

Jakub Novak 12:36 2025-06-02 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 2

Despite the corrections at the end of last week, Bitcoin and Ethereum are once again showing upward momentum, although Ethereum is lagging behind. Experts from the banking group also point

Miroslaw Bawulski 09:45 2025-06-02 UTC+2

Bitcoin Forecast for June 2, 2025

Bitcoin Over the weekend, Bitcoin formed a reversal from the supports at the target level of 102,698 and the embedded green price channel line. If today's candlestick closes in white

Laurie Bailey 04:30 2025-06-02 UTC+2
Can't speak right now?
Ask your question in the chat.
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.

We are sorry for any inconvenience caused by this message.