{"id":603849,"date":"2024-04-18T19:30:31","date_gmt":"2024-04-18T19:30:31","guid":{"rendered":"https:\/\/wncen.com\/?p=603849"},"modified":"2024-06-11T07:00:22","modified_gmt":"2024-06-11T07:00:22","slug":"goldman-sachs-bitcoin-halving","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/goldman-sachs-bitcoin-halving\/","title":{"rendered":"Goldman Sachs On Bitcoin Halving: \u2018It doesn\u2019t Matter If It\u2019s A Buy The Rumor, Sell The News Event\u2019"},"content":{"rendered":"
Analysts at <\/span>Goldman Sachs<\/span><\/a>, a leading global banking and investment management firm, have offered valuable insights into the anticipated effects of the forthcoming Bitcoin halving, on the price of the cryptocurrency. They emphasize that while the <\/span>Bitcoin halving<\/span><\/a> is a noteworthy event, other major factors will likely exert greater influence on Bitcoin\u2019s future value.\u00a0<\/span><\/p>\n In a note to clients, Goldman Sach\u2019s analysts have cautioned against reading too much into the <\/span>past Bitcoin halving cycles<\/span><\/a> and their impact on the cryptocurrency. Based on historical trends, the Bitcoin halving cycles tend to have a favorable effect on the value of Bitcoin, often <\/span>triggering a bull run<\/span><\/a>.\u00a0<\/span><\/p>\n The bank noted that whether the Bitcoin halving scheduled for April 20, becomes a \u201cbuy the rumor, sell the news event,\u201d it would hold less significance for the cryptocurrency\u2019s medium-term outlook.<\/span><\/p>\n They argue that the future performance of the pioneer cryptocurrency would be more heavily influenced by the <\/span>supply and demand dynamics<\/span><\/a> within the current market. Additionally, the analysts highlighted that the growing interest and demand for <\/span>Spot Bitcoin Exchange Traded Funds (ETFs) <\/span><\/a>combined with the self-reflexive nature of the crypto market would be the primary contributing factor to Bitcoin\u2019s price action and future outlook.\u00a0<\/span><\/p>\n Sharing a similar perspective, analysts at CryptoQuant disclosed earlier in April that the 2024 <\/span>Bitcoin halving was no longer a primary catalyst for Bitcoin\u2019s bullish surge<\/span><\/a>. They highlighted that factors such as increasing demand from large-scale investors and diminishing supply were now the key drivers of Bitcoin\u2019s upward momentum.\u00a0\u00a0<\/span><\/p>\n Analysts at Goldman Sachs have predicted that <\/span>macroeconomic factors<\/span><\/a> such as inflation could have a significant influence on the upcoming Bitcoin halving event.\u00a0<\/span><\/p>\n \u201cCaution should be taken against extrapolating the past cycles and the impact of halving, given the respective prevailing macro conditions,\u201d Goldman Sachs analysts noted.<\/span><\/p>\nBitcoin Halving To Play Lesser Role In BTC\u2019s Outlook<\/h2>\n
Analysts Warn Of Macroeconomic Influence On New Halving Cycle<\/h2>\n