Goldman Sachs raised its forecast for the S&P 500. What does this mean for Bitcoin?
Goldman Sachs analysts revised their forecast for the S&P 500 index after it exceeded 5,000 points.
The team led by David Kostin has set a year-end target for the S&P 500 at 5,200, which means an increase of 0.9% compared to the current level. As you know, the price of bitcoin tends to move in line with the S&P 500 index.
Goldman Sachs forecasts are generally positive for the stock market. Other expert analysts, such as Tom Lee of Fundstrat Global Advisors and John Stoltzfus of Oppenheimer Asset Management, also share such an optimistic opinion, believing that the dynamics of the S&P 500 index will be positive by the end of the year.
Notably, according to the chart provided by Into The Block, the correlation between bitcoin and the S&P500 is increasing. This indicates that bitcoin may move up along with the US stock market.
Source: https://happycoin.club/v-goldman-sachs-povysili-prognoz-dlya-sp-500-chto-eto-znachit-dlya-bitkoina/
