In a recent post, world-renowned Goldman Sachs commented on investment options. Data shows that the leading cryptocurrency Bitcoin (BTC) has outstripped other traditional investment assets since the beginning of the year! Here are the details…
The investment bank explained: “This cryptocurrency is the best!”
Goldman Sachs, a multinational investment bank, announced in a recent statement that Bitcoin (BTC) has outperformed other technology and traditional investment vehicles such as gold since the beginning of 2023. According to the data, the leading cryptocurrency Bitcoin gained 51 percent in absolute returns relative to other assets and included information technologies (+16%), communications services (+15%), discretionary consumers (+11%), Russell 1000 Growth (+%). 10 outperformed gold (+4%) and S&P 500 (+4%).
However, energy and crude oil dropped 11 percent and 14 percent, while oil prices hit their lowest levels since December 2021 amid weakening fundamentals and larger market concerns. On the other hand, the base of the market will depend on OPEC+ and the USA. Looking at the data, information technology (1.5) ranks higher than the Nasdaq (1.4) and healthcare (-1.1) in terms of risk-adjusted earnings measured by the Sharpe ratio.
Bitcoin has become stronger than Wall Street stocks!
On the other hand, the recent surge in the price of the leading crypto came with the growing possibility that the Fed will eventually abandon its hawkish monetary policy, according to experts. Bitcoin (BTC) has increased by more than 35 percent after the banks closed with the recent banking activities of the US regulators. While analysts came up with warnings of correction, the recovery of the leading crypto was even stronger than Wall Street stocks and attracted the intense interest of many investors.
As Cryptokoin.com previously reported, the collapse of Terra, FTX, Celcius and 3AC, the collapse in global industries and the tightening policy implemented, the leading cryptocurrency Bitcoin experienced a major correction, greatly increased the confidence of investors in the crypto money industry last year. amount was broken.
However, Bitcoin closed the week with a 34 percent gain, its best since January 2021 amid the ongoing banking crisis. This has changed the thoughts towards the leading cryptocurrency. On the other hand, this crypto rally, which has been experienced between the banking crisis since the past weeks, has brought investors who turned to other investment tools back to the crypto money sector. Experts’ statements about the latest Bitcoin rise are in the direction of the rise in line with the Fed’s decisions.
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