2024

Mirror

Bitcoin

David Vance

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/goldman-sachs-lifts-sp-500-2024-projection-as-bitcoin-eyes-upward-trend" rel="noopener noreferrer nofollow">Goldman Sachs Lifts S&amp;P 500 2024 Projection as Bitcoin Eyes Upward Trend</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-awaits-potential-boost-during-lunar-new-year-festivities" rel="noopener noreferrer nofollow">Bitcoin</a>‘s value has been hovering around $52,000, with the U.S. stock markets, notably the S&amp;P 500, reaching historic highs. The S&amp;P 500 recently scaled the 5,000 peak, marking a 5.54% surge since the year’s outset, stirring a positive sentiment amongst traders.</p>
<h2 id="goldman-sachs-ups-the-ante-on-sp-500-forecast">Goldman Sachs Ups the Ante on S&amp;P 500 Forecast</h2>
<p style="text-align: justify">Goldman Sachs’ analysts, under the guidance of David Kostin, have upgraded the S&amp;P 500 index’s year-end projection for 2024 to 5,200, up from their earlier prediction. This adjustment, amounting to a 2% increase from previous forecasts, is driven by anticipated growth in earnings.</p>
<p style="text-align: justify">Previously in November 2023, Kostin’s team estimated the index would reach 4,700 by the end of 2024. Their revised target of 5,200 reflects a more optimistic view. Echoing this sentiment, market experts like Tom Lee of Fundstrat and John Stoltzfus of Oppenheimer also convey a buoyant perspective on the index’s future.</p>
<h2 id="bitcoin-s-price-poised-to-mirror-sp-500-s-trajectory">Bitcoin’s Price Poised to Mirror S&amp;P 500’s Trajectory</h2>
<p style="text-align: justify">Bitcoin and the S&amp;P 500 have historically shown a tandem movement, and with Bitcoin’s impressive rally in late 2023, its trajectory is aligning with that of the S&amp;P 500. The Goldman Sachs revision hints that Bitcoin might also experience a similar upward shift.</p>
<p style="text-align: justify">Present derivative metrics signal further ascents for Bitcoin, with the crypto’s open interest reaching a three-year zenith of $22.5 billion on February 18th, reflecting a robust investor optimism. However, Bitcoin encounters a formidable challenge near the $53,200 mark, a critical resistance level that has been a loss point for many since December 2021. Surmounting this could catalyze a surge, potentially eyeing the $60,000 threshold once more.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/goldman-sachs-lifts-sp-500-2024-projection-as-bitcoin-eyes-upward-trend" rel="noopener noreferrer nofollow">Goldman Sachs Lifts S&amp;P 500 2024 Projection as Bitcoin Eyes Upward Trend</a></h5>

Goldman Sachs Lifts S&P 500 2024 Projection as Bitcoin Eyes Upward Trend

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