Goldman Sachs Warns Bitcoin Increasingly Vulnerable to Fed Rate Hikes as Mainstream Adoption Grows #Bitcoin https://ift.tt/ZAcoMjSNq
Global investment bank Goldman Sachs has warned that bitcoin is increasingly vulnerable to the Federal Reserveās rate hikes as the cryptocurrency grows more widely adopted. āOver the last two years, as bitcoin has seen wider mainstream adoption, its correlation with macro assets has picked up,ā the Goldman analysts explained. Goldman Sachs Warns Bitcoin Increasingly Vulnerable to Fed Rate Hikes Global investment bank Goldman Sachs published a research note Thursday detailing bitcoinās increased vulnerability to the Federal Reserve hiking interest rates. Zach Pandl, bankās co-head of foreign exchange strategy, and FX analyst Isabella Rosenberg explained that as mainstream adoption of bitcoin increases, so does the cryptocurrencyās vulnerability to Fed policy. They described: Over the last two years, as bitcoin has seen wider mainstream adoption, its correlation with macro assets has picked up. Noting that higher bond yields have affected technology stocks in recent weeks, with ...