Bitcoin would be the best performing asset at the moment, if risk and volatility are taken into account. This is the conclusion of an analysis by Goldman Sachs, which crowns BTC this month. Will the good weather last for the biggest cryptocurrency?
Goldman Sachs considers Bitcoin (BTC) the best asset of the moment
The analysis, part of which was shared by the Documenting Bitcoin Twitter account, shows that Bitcoin’s performance is particularly good, taking into account the Sharpe ratio. The latter evaluates the performance of an asset or an investment taking into account the risk that the investor takes. And in this game, it would therefore be the BTC that would come out on top:
₿REAKING: #Bitcoin is the best performing asset in the world this year, according to latest data by Goldman Sachs pic.twitter.com/vh7f7UIloi
— Documenting ₿itcoin ? (@DocumentingBTC) January 23, 2023
BTC would therefore be outperforming gold, US Treasuries, or the S&P 500. Note that the analysis has been carried out since the beginning of 2023.
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Bitcoin price above $23,000
The price of BTC has taken off since the beginning of January, with an increase of +41%. For now, it seems to be holding above the $23,000 threshold, after crossing the psychological threshold of $20,000 in the middle of the month:
The price of BTC has been taking off since the beginning of January
Positive signals are also present on the side of minors, which are again in the green in terms of BTC production. Their return is visible by the average hashrate of the Bitcoin network, which has risen sharply since the beginning of the month:
Will the good weather last? A few days ago we were talking about a bullish price target at $26,730. But the most pessimistic evoke a return to 14,000 dollars before triggering a new bullish cycle. This morning, one BTC trades around $23,000for a capitalization that exceeds 443 billion dollars.
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Journalist at Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that stem from the blockchain and I like to find the most crispy information to share with you.
Marine Debelloir
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