{"id":475122,"date":"2021-11-01T17:00:58","date_gmt":"2021-11-01T17:00:58","guid":{"rendered":"https:\/\/wncen.com\/?p=475122"},"modified":"2021-11-01T16:20:18","modified_gmt":"2021-11-01T16:20:18","slug":"analysts-for-ethereum-at-8000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/analysts-for-ethereum-at-8000\/","title":{"rendered":"Goldman Sachs Analysts Shoot For Ethereum At $8,000 With Expected 80% Rally"},"content":{"rendered":"<p class=\"p1\">Ethereum recently hit a new all-time high following a tremendous bull run alongside top crypto bitcoin. The altcoin has enjoyed glowing success as the market turns to the upside in terms of sentiment. This has helped push ETH and countless altcoins towards new highs in the market. Expectations have been on the rise following this success and Goldman Sachs market analysts believe there are merits to the expectations.<\/p>\n<p class=\"p1\">Ethereum\u2019s rally towards $4,400 has set it on a path for even greater value. Faith in the asset has been on the rise in the past few months despite the slow month of September. This has caused an influx of both retail and institutional investors into the digital asset, who are investing for the long-term rather than chasing short-term gains. The push towards ETH at $10K continues and market analysts are marking a path that could lead the market there.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/wncen.com\/news\/bitcoin\/microstrategy-increasing-bitcoin-bet\/\">MicroStrategy Bent On Increasing Bitcoin Bet After 9,000 BTC Purchase, Says CEO<\/a><\/strong><\/em><\/p>\n<h2 class=\"p1\">Gearing Up For $8,000<\/h2>\n<p class=\"p1\">Market analysts at Goldman Sachs have said Ethereum\u2019s price movements in line with inflation if continued, may place the asset in position for another upward rally. Goldman Sachs Global Markets Managing Director Bernhard Rzymelka circulated a note that outlined the correlation of ETH\u2019s price movements with inflation breakevens for the past two years.<\/p>\n<p class=\"p1\">Inflation has been one of the driving forces behind the adoption of crypto in recent times. As countries shut down due to the pandemic in 2020, inflation rates around the globe shot up as nations could no longer carry out trade with one another. This has persisted into 2021 with inflation rates for the United States at 4.2%. As such, investors have had to find better ways than traditional investment options to hedge against growing inflation and digital currencies as Ethereum has presented as an option.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/BnpG6bA5\/\" alt=\"Ethereum price chart from TradingView.com\" width=\"1354\" height=\"686\"><\/p>\n<pre style=\"text-align: center\">ETH price drops from ATH | Source: <a href=\"https:\/\/www.tradingview.com\/chart\/UG2tjOD6\/\" rel=\"nofollow\">ETHUSD on TradingView.com<\/a><\/pre>\n<p class=\"p1\">Goldman Sachs market analysts put forward that if ETH continues to follow the same line, then the digital asset will rally 80% towards $8,000. However, the analysts explained that this could go either way. Investors\u2019 views of current inflation pressures may persist and if they do, it could be \u201ca sign of exhaustion and peaking, or a starting point of an accelerating rally upon a break higher,\u201d the note said.<\/p>\n<h2 class=\"p1\">Ethereum Trending Higher<\/h2>\n<p class=\"p1\">Ethereum had trended downwards after losing its footing above $4,400. Bulls had hoped to settle the digital asset above the $4,500 but market momentum dropping during the weekend has seen ETH register lower than expected in the early hours of Monday. This had however not deterred the bulls as the asset is poised to begin another rally to once again test the $4,400 price point.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/wncen.com\/news\/cardano\/bondly-ethereum-to-cardano-bridge\/\">New Ethereum-to-Cardano Bridge Will Provide NFT Creators Eco-friendly Options<\/a><\/strong><\/em><\/p>\n<p class=\"p1\">The recently completely <a href=\"https:\/\/bitcoinist.com\/ethereum-devs-set-date-for-altair-upgrade-ahead-of-eth-2-0\/\" rel=\"nofollow\">Altair upgrade<\/a> had brought more interest into the asset. With this upgrade, ETH is one step closer to becoming a deflationary asset, a turnaround expected to trigger a surge in the price of the asset once the coins become more scarce.<\/p>\n<p class=\"p1\">Although indicators point to more bullish movement, a fall below the $4,300 resistance point will drag the asset farther down. This could see the asset touch back down towards $4,000 again. However, major resistance to this downside will come at $4,150.<\/p>\n<pre style=\"text-align: center\">Featured image from Coingape, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum recently hit a new all-time high following a tremendous bull run alongside top crypto bitcoin. The altcoin has enjoyed glowing success as the market turns to the upside in terms of sentiment. This has helped push ETH and countless altcoins towards new highs in the market. Expectations have been on the rise following this success and Goldman Sachs market analysts believe there are merits to the expectations. Ethereum\u2019s rally towards $4,400 has set it on a path for even greater value. Faith in the asset has been on the rise in the past few months despite the slow month of September. This has caused an influx of both retail and institutional investors into the digital asset, who are investing for the long-term rather than chasing short-term gains. The push towards ETH at $10K continues and market analysts are marking a path that could lead the market there. Related Reading |\u00a0MicroStrategy Bent On Increasing Bitcoin Bet After 9,000 BTC Purchase, Says CEO Gearing Up For $8,000 Market analysts at Goldman Sachs have said Ethereum\u2019s price movements in line with inflation if continued, may place the asset in position for another upward rally. Goldman Sachs Global Markets Managing Director Bernhard Rzymelka circulated a note that outlined the correlation of ETH\u2019s price movements with inflation breakevens for the past two years. Inflation has been one of the driving forces behind the adoption of crypto in recent times. As countries shut down due to the pandemic in 2020, inflation rates around the globe shot up as nations could no longer carry out trade with one another. This has persisted into 2021 with inflation rates for the United States at 4.2%. As such, investors have had to find better ways than traditional investment options to hedge against growing inflation and digital currencies as Ethereum has presented as an option. ETH price drops from ATH | Source: ETHUSD on TradingView.com Goldman Sachs market analysts put forward that if ETH continues to follow the same line, then the digital asset will rally 80% towards $8,000. However, the analysts explained that this could go either way. Investors\u2019 views of current inflation pressures may persist and if they do, it could be \u201ca sign of exhaustion and peaking, or a starting point of an accelerating rally upon a break higher,\u201d the note said. Ethereum Trending Higher Ethereum had trended downwards after losing its footing above $4,400. Bulls had hoped to settle the digital asset above the $4,500 but market momentum dropping during the weekend has seen ETH register lower than expected in the early hours of Monday. This had however not deterred the bulls as the asset is poised to begin another rally to once again test the $4,400 price point. Related Reading |\u00a0New Ethereum-to-Cardano Bridge Will Provide NFT Creators Eco-friendly Options The recently completely Altair upgrade had brought more interest into the asset. With this upgrade, ETH is one step closer to becoming a deflationary asset, a turnaround expected to trigger a surge in the price of the asset once the coins become more scarce. Although indicators point to more bullish movement, a fall below the $4,300 resistance point will drag the asset farther down. This could see the asset touch back down towards $4,000 again. However, major resistance to this downside will come at $4,150. Featured image from Coingape, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":475126,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,16163,84573,1946,6931,2212],"class_list":["post-475122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-eth-price","tag-eth-rally","tag-ethereum","tag-ethereum-price","tag-goldman-sachs"],"acf":[],"yoast_head":"\n<title>Goldman Sachs Analysts Shoot For Ethereum At $8,000 With Expected 80% Rally<\/title>\n<meta name=\"description\" content=\"Ethereum recently hit a new all-time high following a tremendous bull run alongside top crypto bitcoin. 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Goldman Sachs Analysts Shoot For Ethereum At $8,000 With Expected 80% Rally","url":"http:\/\/wncen.com\/news\/ethereum\/analysts-for-ethereum-at-8000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/analysts-for-ethereum-at-8000\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/11\/eth-bull.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/11\/eth-bull.png?fit=678%2C381"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","eth price","eth rally","ethereum","ethereum price","goldman sachs"],"dateCreated":"2021-11-01T17:00:58Z","datePublished":"2021-11-01T17:00:58Z","dateModified":"2021-11-01T17:00:58Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Goldman Sachs Analysts Shoot For Ethereum At $8,000 With Expected 80% Rally\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/analysts-for-ethereum-at-8000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/analysts-for-ethereum-at-8000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/11\\\/eth-bull.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/11\\\/eth-bull.png?fit=678%2C381\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"eth price\",\"eth rally\",\"ethereum\",\"ethereum price\",\"goldman sachs\"],\"dateCreated\":\"2021-11-01T17:00:58Z\",\"datePublished\":\"2021-11-01T17:00:58Z\",\"dateModified\":\"2021-11-01T17:00:58Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/11\/eth-bull.png?fit=678%2C381","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/475122"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=475122"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/475122\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/475126"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=475122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=475122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=475122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}