UPDATE: Cryptocurrency Investing Strategy - August 2018
Goldman Sachs Investment Strategy Group: ‘Crypto Mania’ a Risk to Stable 2018 Outlook
A Goldman Sachs Investment Strategy Group report claims that “crypto mania†could affect their 2018 market outlook, with further declines in crypto markets expected.
Bitcoin (BTC) and “unsteady cryptocurrency mania” are the one of six factors that threaten Goldman Sachs 2018 market outlook, Bitcoin (BTC) and “unsteady cryptocurrency mania” are the one of six factors that threaten Goldman Sachs 2018 market outlook Cryptocurrency Investment Strategy 2018
The report entitled “(Un)Steady as She Goes, Cryptocurrency Investment Strategy 2018 , the rise of populism, rising geopolitical tensions, and an increasing threat of cyberattacks.
markets to “further [decline] in the future given our view that these cryptocurrencies do not fulfill any of the three traditional roles of currency...” According to Goldman Sachs, crypto is “neither a medium of exchange, nor a unit of measurement, nor a store of value.”
While the adjusted outlook lists cryptocurrency instability as a possible risk factor, it also states that “we continue to believe that such declines will not negatively impact the performance of broader financial assets, because cryptocurrencies represent just 0.3 percent of world GDP as of mid-2018.” The report adds that cryptocurrencies “would not retain value in their current incarnation.”
in January, in January Cryptocurrency Investment Strategy 2018 ,” claiming that the sharp rise in
At that time, Goldman Sachs refrained from making a forecast on crypto prices, claiming that even if Bitcoin’s price would “double or triple, claiming that even if Bitcoin’s price would “double or triple Cryptocurrency Investment Strategy 2018
While Goldman Sachs’ skeptical stance on crypto “remains intact,” the investment bank’s CEO Lloyd Blankfein has
that the adoption of crypto like Bitcoin could happen in a similar way as that of paper money, which replaced
coins. In an interview in June, Blankfein stated that it is “too arrogant” to argue that crypto cannot be adopted on a large scale only because it is “uncomfortable” or “unfamiliar.”
derivatives, in a move to assist clients in such derivatives as
and to “evolve its business and adapt to the environment.”
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