Goldman Sachs Anticipates Crypto Surge in 2024

Adekunle Joshua

Goldman Sachs anticipates a surge in crypto trading volumes in 2024

The main factors contributing to this surge will include the approval of a spot Bitcoin ETF, the Bitcoin Halving, and the US Federal Reserve’s interest rate cuts in 2024

According to the Global Head of Digital Assets, Mathew McDermott, there will be substantial growth in on-chain trading within the next 1-2 years

Following the December 2023 FOMC meeting, the US Federal Reserve maintained interest rates, resulting in a nearly 5% rise in the price of Bitcoin (BTC)

The CME FedWatch Tool also suggests steady rates post-January 31, 2024 meeting

With the Fed holding interest rates steady, there's potential for further upside to the BTC price

Analysts, including Dan Tapiero and Standard Chartered, predict that Bitcoin will reach $100,000 by 2025 and the end of 2024, respectively.