Goldman Sachs -Bitcoin lost around 40% since peaking in November, down from almost $70,000 per bitcoin to lowest this week of $41,000.
Likewise, other coin and ethereum and also crashed back, wiping around $1 trillion in value from the crypto market since its November high.G
Crypto Crimes increased to the highest number in 2021
Goldman Sachs GS, has predicted bitcoin will compete with gold as a “store of value”—and could hit $100,000 within five years.
According to Goldman Sachs GS Bitcoin has superior monetary qualities to gold, and once it reaches a critical mass of adoption as a store of value, bitcoin has huge potential to grow into a global reserve currency and universal unit of account.
Chief executive of crypto exchange Okcoin ‘Hong Fang’ said in his comments, pointing to bitcoin’s scarcity via its fixed supply of 21 million coins, its digital durability and accessibility, as well as its resistance to censorship.
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