{
}
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Bitcoin (BTC) surged over 4% to reclaim $100,000, driven by positive inflation data, while Ethereum (ETH) approached $4,000 with a 7% increase. Other cryptocurrencies like Solana (SOL) and Ripple (XRP) also saw significant gains, contributing to a nearly 6% rise in the overall crypto market cap to $3.65 trillion. Despite this recovery, US bankers remain cautious about the volatile crypto landscape, emphasizing the need for a clearer regulatory framework.
US bankers remain cautious about cryptocurrencies despite a pro-crypto administration under President-elect Trump. Executives from major banks, including Goldman Sachs and Bank of New York Mellon, emphasize the need for a clearer regulatory framework and appropriate safeguards before engaging with volatile assets. Past crypto crises, such as the FTX collapse, have heightened their skepticism, with client demand for crypto still limited.
Oppenheimer has set the highest S&P 500 price target on Wall Street at 7,100 for the end of next year, indicating a 17% upside. The firm cites strong economic fundamentals and AI-driven efficiency improvements as key drivers for continued market resilience, despite some bearish warnings about high valuations. Other analysts, including Ed Yardeni and Deutsche Bank, also maintain bullish forecasts, while a few caution against a potential bear market.
Goldman Sachs CEO David Solomon indicated the bank may explore cryptocurrency trading if US regulations allow, despite currently holding over $700M in Bitcoin ETFs. Meanwhile, Ripple's $RLUSD stablecoin has received approval to launch, and Best Wallet aims to capture 40% of the crypto wallet market by 2026, leveraging its non-custodial model and advanced security technology. Investors have a limited time to purchase the $BEST token before a price increase.
Bitcoin, currently priced at $97,604, may face a significant correction of 30-35% as it approaches key resistance levels against gold. Historical patterns indicate that the Bitcoin-to-Gold ratio's overbought status often precedes sharp declines, with potential targets around $65,000-69,000 if a pullback occurs. Conversely, a breakout above $102,000 could lead to a rally towards $150,000.
The S&P 500 has reached a forward price-to-earnings (PE) ratio of 22.3, a level only seen during the dot-com bubble and the Covid-19 pandemic, both of which preceded significant market declines. Analysts predict a bleak 3% annual return for the index over the next decade, while an equal-weight S&P 500 index could yield 8% annually, suggesting better opportunities among smaller stocks. Investors are advised to be cautious with valuations and consider accumulating cash for potential market corrections.
Goldman Sachs CEO David Solomon stated that the investment bank is prepared to engage with cryptocurrencies like Bitcoin and Ethereum, contingent on favorable regulatory changes under President Trump. Currently, the bank's ability to operate in the crypto market is limited, although it holds approximately $718 million in Bitcoin ETFs, including a $461 million investment in BlackRock’s Bitcoin ETF. With Trump’s administration promising a more crypto-friendly approach, the SEC is expected to adopt a supportive stance towards digital assets.
Goldman Sachs CEO David Solomon indicated the bank's openness to entering the cryptocurrency market for Bitcoin and Ethereum trading, contingent on changes in U.S. regulations. He acknowledged the current regulatory constraints and described Bitcoin as a speculative asset, while noting growing interest from hedge fund clients, particularly in anticipation of SEC approvals for Ethereum ETFs. As Bitcoin prices soar, the evolving regulatory landscape may accelerate institutional adoption of crypto assets.
The bankruptcy of Swedish battery manufacturer Northvolt has left Swiss investors facing significant losses, with Goldman Sachs writing off $896 million in shares across four private equity funds. Stefan Bollinger, set to become CEO of Julius Baer, promoted these funds to wealthy clients, despite earlier optimistic forecasts. Northvolt's collapse marks a major setback for the European industry, having raised over $13 billion since its inception in 2016.
Goldman Sachs CEO David Solomon indicated the firm is open to engaging in Bitcoin and Ethereum, contingent on changes in regulatory frameworks. While the bank has developed infrastructure for digital assets and offers consultancy services, legal constraints currently prevent direct trading. Solomon noted that a favorable regulatory environment could prompt the firm to expand its involvement in the cryptocurrency market.
The Goldman Sachs Group, Inc.
Companies
crypto markets rebound as bitcoin surpasses 100000 amid cautious banker sentiment
Coinbase Global, Inc.
MicroStrategy Inc
The Goldman Sachs Group, Inc.
Donald Trump
Gary Gensler
David M. Solomon
Paul Atkins
Show more
11:00 12.12.2024
us bankers remain cautious on cryptocurrencies despite pro crypto administration
Bank of New York Mellon Corp
Bank of America Corporation
The Goldman Sachs Group, Inc.
USA
Robin Vince
Matt Gellene
Paul Atkins
David O. Sacks
David M. Solomon
Show more
06:51 12.12.2024
Oppenheimer sets highest S&P 500 target predicting 17 percent upside for 2025
Bank of America Corporation
Barclays PLC
The Goldman Sachs Group, Inc.
USA
Edward Yardeni
John Stoltzfus
Show more
16:07 11.12.2024
Goldman Sachs explores cryptocurrency trading as Best Wallet eyes market expansion
United States Dollar
The Goldman Sachs Group, Inc.
USA
Donald Trump
Gary Gensler
David M. Solomon
Brad Garlinghouse
Show more
14:37 11.12.2024
Bitcoin faces potential 35 percent correction as gold fractal signals warning
12:20 11.12.2024
stock market valuations signal potential downturn after historic highs
11:35 11.12.2024
Goldman Sachs seeks regulatory changes to invest in Bitcoin and Ethereum
United States Dollar
The Goldman Sachs Group, Inc.
BlackRock, Inc.
USA
Donald Trump
David M. Solomon
Paul Atkins
Show more
09:22 11.12.2024
Goldman Sachs considers crypto trading as regulatory landscape evolves
09:08 11.12.2024
goldman sachs faces backlash after northvolt bankruptcy impacts swiss investors
United States Dollar
Julius Bär Gruppe AG
The Goldman Sachs Group, Inc.
J. Safra Sarasin Anlagestiftung 2
Volkswagen AG
CHE
GBR
USA
SWE
Philipp Rickenbacher
Stefan Bollinger
Beat Schmid
Peter Spuhler
Nic Dreckmann
Show more
06:37 11.12.2024
Goldman Sachs CEO discusses potential cryptocurrency expansion amid regulatory changes
22:08 10.12.2024
Trending
Subcategory:
Corporate News
Stock Market Updates
Industry Trends
Banking Regulations
Retail and Consumer Goods
Startups & Entrepreneurship
Global Financial Events
Industry Mergers & Acquisitions
Finance Mergers & Acquisitions
European Securities and Markets Authority
Government Policies
CEO Changes
Financial Scams and Security
Private Equity Deals
Government Economic Policies
Domestic Politics
Central Bank Actions
Global Trade Developments
Workplace Trends
Market Analysis and Predictions
Countries:
Companies:
Currencies:
People:
DEUTSCHE BANK AG
Barclays plc
Natwest
UBS AG
Berkshire Hathaway Inc.
MERCK KGaA
Lloyds Banking Group plc
Hsbc Holdings B.V.
HSBC Holdings plc
Rheinmetall AG
Banco Santander SA
Standard Chartered
Delivery Hero SE
Huawei Technologies CO. Ltd.
Wells Fargo & Company
ING Groep N.V.
Unicredit
adidas AG
Google Inc.
Dell Technologies Inc.
United States Dollar
Euro
British Pound Sterling
Indian Rupee
Swiss Franc
Hong Kong Dollar
Japanese Yen
South Korean Won
Chinese Yuan
Canadian Dollar
Saudi Riyal
Australian Dollar
United Arab Emirates Dirham
Russian Ruble
South African Rand
Nicaraguan Córdoba
Indonesian Rupiah
Qatari Riyal
Pakistani Rupee
Egyptian Pound
Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.