The rapid increment in the price of Bitcoin dragged the attention of all the big investors again, as Goldman Sachs ranked Bitcoin as a top-performing asset in its list.
Goldman Sachs is a US-based multinational investment bank and financial services company. This company was founded by Marcus Goldman & Samuel Sachs in 1869. To this date, services of this company are available in almost every kind of financial service.
On 17 March 2023, Goldman Sachs released a market performance report and in that report, they listed Bitcoin as the best performer.
It is worth it to note that the performance of all assets was calculated within the year-to-date timeframe, which means ignoring the all-time high or last year’s price/performance.
The current price of Bitcoin is $27,404 & this trade price is 63.24% high over the last 90 days of trade price.
In the last few weeks, Bitcoin saw significant buyers because of the downfall of some popular banks in the United States (US).
In the present time, Bitcoin supporters are very confident, as US banks failed but Bitcoin never failed in the past.
However many Bitcoin haters dragged the crypto sector as the main reason behind the downfall of the banks but practical research-based data are clearly showing that Crypto companies are victims of the US banking crisis and it was the failure of banks, not crypto or blockchain technology.
The journey for the crypto sector in 2022 was full of ups & downs. In the last year, Bitcoin plunged from $45k to $18k and in that downfall, many crypto companies failed to survive. The majority of the failed crypto companies were either based on weak business models or had financial exposure to bad companies.
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Goldman Sachs highlighting Bitcoin as top-performing asset YTD