.GoldmanSachs says tight financial conditions are likely to be a drag on bitcoin user adoption, and this makes a repeat of the cryptocurrency's strong returns of the last decade less likely. By willcanny99.
Bitcoin’s value proposition is based on the cryptocurrency’s potential usefulness, and its level of future adoption, therefore, is more sensitive to changes in interest rates – or has a
Tight financial conditions are expected to be a drag on bitcoin’s user adoption, the report said, and this makes a repeat of the cryptocurrency’s strong returns of the last decade less likely. Volatility will likely remain elevated until it develops more use cases. Goldman says such conditions will be a smaller drag on the price of gold as it is a “shorter duration real asset with developed user cases,” adding that the metal “may benefit from structurally higher macro volatility and a need to diversify equity exposure.”
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