Goldman Sachs Predicts Pause in Interest Rate Hikes, Potentially Boosting Crypto Market

Goldman Sachs’ market experts believe there could be a pause on interest rate hikes during the upcoming Federal Open Market Committee (FOMC) meeting in September. Suggested by the finance behemoth’s figures, such as Jan Hatzius and David Mericle, the interest recalibration can be initiated to cope with inflation that is inching closer to the target mark. Should the committee members agree in the penultimate November meeting, a reset in rate unbalances to meet the cooling inflation requirement could begin in mid-2024, implying that cryptocurrency assets such as Bitcoin, Ethereum, and the likes could witness tremendous growth. When official instruments turn more lenient on interest rates, surplus liquidity from the market will swim towards crypto, affecting the demand and the cost of the equity; with a large pool of money available, a riskier asset like Bitcoin could rally up to around the $35,000 mark or higher. Figures, however, are showing a slight bear spell in the major top 10 tokens, suggesting that the future influx of capital is essential for prices to surge.

Robert Wilson author
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