Goldman Sachs’ bearish macro outlook puts Bitcoin at risk of crashing to $12K
2022.09.19 12:57
Goldman Sachs’ bearish macro outlook puts Bitcoin at risk of crashing to $12K
A sequence of macro warnings coming out of the Goldman Sachs (NYSE:) camp puts (BTC) at a risk of crashing to $12,000.
A team of Goldman Sachs economists led by Jan Hatzius raised their prediction for the speed of Federal Reserve benchmark rate hikes. They noted that the United States central bank would increase rates by 0.75% in September and 0.5% in November, up from their previous forecast of 0.5% and 0.25%, respectively.
price performance comparison between 2012-2016 and 2020-2022. Source: Doctor Profit/TradingView derivatives held by smart money. Source: CFTC/EcoinometricsBTC options open interest by strike price. Source: CoinglassBTC/USD daily price chart with inverse cup-and-handle breakdown setup. Source: TradingView
Continue Reading on Coin Telegraph
