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Goldman Sachs Says Mainstream Crypto Adoption Not Enough to Boost Bitcoin (BTC) Price
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Bitcoin has witnessed a heavy correction this year along with the U.S. equity market plunging down as the Fed hints at interest rate hikes ahead this year
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Although bitcoin has been correcting a lot, its adoption among mainstream retail investors is growing
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Mainstream adoption can be a double-edged sword
— Goldman Sachs
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While it can raise valuations, it will also likely raise correlations with other financial market variables, reducing the diversification benefit of holding the asset class.
— Goldman Sachs