{"id":38702,"date":"2024-02-19T09:25:28","date_gmt":"2024-02-19T09:25:28","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2024\/02\/19\/goldman-sachs-raises-sp-500-target-to-5200-will-bitcoin-btc-follow\/"},"modified":"2024-02-19T09:25:28","modified_gmt":"2024-02-19T09:25:28","slug":"goldman-sachs-raises-sp-500-target-to-5200-will-bitcoin-btc-follow","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2024\/02\/19\/goldman-sachs-raises-sp-500-target-to-5200-will-bitcoin-btc-follow\/","title":{"rendered":"Goldman Sachs Raises S&#038;P 500 Target to 5,200, Will Bitcoin (BTC) Follow?"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p>In current days, the Bitcoin (BTC) worth has hovered across the <a href=\"https:\/\/coingape.com\/will-bitcoin-price-face-an-8-correction-if-it-cant-reclaim-52k\/\" target=\"_blank\" rel=\"noopener\">$52,000 mark<\/a>, conserving traders on their toes. Meanwhile, the U.S. fairness markets have been surging, with the S&amp;P 500 reaching report highs of 5,000. Year-to-date, the index has already gained 5.54% in 2024, signaling robust efficiency.<\/p>\n<h3>S&amp;P 500 Can Rally to 5,200<\/h3>\n<p>In a swift turnaround, Goldman Sachs Group Inc. strategists have revised their 2024 goal for the S&amp;P 500 Index after the index surged previous the numerous 5,000 milestone this month. In a current word to purchasers, the staff, led by David Kostin, highlighted elevated revenue estimates as the first driver behind the adjustment.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<figure id=\"attachment_181102\" aria-describedby=\"caption-attachment-181102\" style=\"width: 620px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-181102\" alt=\"\" width=\"620\" height=\"349\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/SP-500.jpg 620w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/SP-500-300x169.jpg 300w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/SP-500-150x84.jpg 150w\" data-lazy-sizes=\"(max-width: 620px) 100vw, 620px\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/SP-500.jpg\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-181102\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/SP-500.jpg\" alt=\"\" width=\"620\" height=\"349\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/SP-500.jpg 620w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/SP-500-300x169.jpg 300w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/SP-500-150x84.jpg 150w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\"\/><\/noscript><figcaption id=\"caption-attachment-181102\" class=\"wp-caption-text\">Courtesy: <a rel=\"nofollow noopener\" href=\"https:\/\/www.bnnbloomberg.ca\/goldman-sachs-lifts-s-p-500-target-to-5-200-on-profit-expansion-1.2036308\" target=\"_blank\">Bloomberg<\/a><\/figcaption><\/figure>\n<p>Kostin now predicts the S&amp;P 500 will climb to 5,200 by the yr\u2019s finish, reflecting a 2% uptick from the mid-December forecast of 5,100. This new goal implies a 3.9% acquire from Friday\u2019s closing worth.<\/p>\n<p>It\u2019s value noting that Kostin\u2019s preliminary projection in November 2023 had the S&amp;P 500 reaching 4,700 by the tip of this yr, 2024. Goldman\u2019s bullish stance, with a 5,200 worth goal for the S&amp;P 500 in 2024, positions it among the many most optimistic on Wall Street. Other market analysts like Tom Lee of Fundstrat Global Advisors and Oppenheimer Asset Management chief strategist John Stoltzfus, have shared an identical year-end outlook.<\/p>\n<h3>Will the Bitcoin (BTC) Price Follow?<\/h3>\n<p>Bitcoin and the S&amp;P 500 have maintained a detailed and symbiotic relationship up to now. After Bitcoin\u2019s robust rally final yr in This autumn 2023, the Bitcoin worth has been largely catching up to it.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<p>As the BTC worth holds above the important thing help of $52,000, the derivatives knowledge hints at additional bullish worth motion.\u00a0The chart under depicts a notable surge in Bitcoin open curiosity, reaching a brand new three-year peak of $22.5 billion on Feb 18, marking a considerable $1.12 billion improve from the earlier closing steadiness on Friday, Feb 16.<\/p>\n<figure id=\"attachment_181109\" aria-describedby=\"caption-attachment-181109\" style=\"width: 2802px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-181109\" alt=\"\" width=\"2802\" height=\"966\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-BTC-Open-Interest.png 2802w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-BTC-Open-Interest-300x103.png 300w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-BTC-Open-Interest-1224x422.png 1224w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-BTC-Open-Interest-768x265.png 768w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-BTC-Open-Interest-1536x530.png 1536w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-BTC-Open-Interest-2048x706.png 2048w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-BTC-Open-Interest-150x52.png 150w\" data-lazy-sizes=\"(max-width: 2802px) 100vw, 2802px\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-BTC-Open-Interest.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-181109\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-BTC-Open-Interest.png\" alt=\"\" width=\"2802\" height=\"966\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-BTC-Open-Interest.png 2802w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-BTC-Open-Interest-300x103.png 300w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-BTC-Open-Interest-1224x422.png 1224w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-BTC-Open-Interest-768x265.png 768w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-BTC-Open-Interest-1536x530.png 1536w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-BTC-Open-Interest-2048x706.png 2048w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-BTC-Open-Interest-150x52.png 150w\" sizes=\"auto, (max-width: 2802px) 100vw, 2802px\"\/><\/noscript><figcaption id=\"caption-attachment-181109\" class=\"wp-caption-text\">Courtesy: CoinGlass<\/figcaption><\/figure>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<p>What\u2019s notably intriguing is that this determine has persistently remained above the $20 billion threshold for 3 consecutive buying and selling days, indicating a sustained bullish sentiment amongst traders.<\/p>\n<p>This improvement means that regardless of Bitcoin ETFs concluding buying and selling on Friday, speculative merchants have reaffirmed their confidence available in the market by reinforcing their positions, anticipating additional upward momentum in BTC worth within the days forward.<\/p>\n<p>Furthermore, it\u2019s noteworthy that the final time Bitcoin open curiosity surpassed the $22.5 billion mark was in April 2021, coinciding with Bitcoin buying and selling above $60,300.<\/p>\n<h3>The Possible Downside<\/h3>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<p>The historic accumulation development reveals a formidable impediment for BTC, because it encounters robust resistance across the $53,200 threshold. Analysis from IntoTheBlock\u2019s in\/out of the cash knowledge signifies that 532,050 addresses secured 294,890 BTC on the peak worth of $53,256.<\/p>\n<p>It\u2019s value noting that many of those traders have been holding at a loss since December 2021. As BTC approaches its break-even worth, there\u2019s a chance that they could decide to exit their positions.<\/p>\n<figure id=\"attachment_181111\" aria-describedby=\"caption-attachment-181111\" style=\"width: 2598px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-181111\" alt=\"\" width=\"2598\" height=\"810\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-SupplyDemand.png 2598w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-SupplyDemand-300x94.png 300w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-SupplyDemand-1224x382.png 1224w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-SupplyDemand-768x239.png 768w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-SupplyDemand-1536x479.png 1536w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-SupplyDemand-2048x639.png 2048w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-SupplyDemand-150x47.png 150w\" data-lazy-sizes=\"(max-width: 2598px) 100vw, 2598px\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-SupplyDemand.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-181111\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-SupplyDemand.png\" alt=\"\" width=\"2598\" height=\"810\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-SupplyDemand.png 2598w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-SupplyDemand-300x94.png 300w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-SupplyDemand-1224x382.png 1224w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-SupplyDemand-768x239.png 768w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-SupplyDemand-1536x479.png 1536w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-SupplyDemand-2048x639.png 2048w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Bitcoin-SupplyDemand-150x47.png 150w\" sizes=\"auto, (max-width: 2598px) 100vw, 2598px\"\/><\/noscript><figcaption id=\"caption-attachment-181111\" class=\"wp-caption-text\">Courtesy: IntoTheBlock<\/figcaption><\/figure>\n<p>However, if the bulls handle to surpass the $53,000 sell-wall, it may ignite a wave of strong bullish momentum, probably paving the best way for a retest of the $60,000 territory.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<div class=\"m-on mobiless\">\n<div id=\"social-section-new\">\n<p>\u2713 Share:<\/p>\n<p>                                  <a class=\"social-text_new wp_new\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/goldman-sachs-raises-sp-500-target-to-5200-will-bitcoin-btc-follow\/\" target=\"_blank\" style=\"display: block\" rel=\"noopener\">  <i class=\"fa fa-whatsapp\"\/><\/a><\/p>\n<div>\n                                <a class=\"social-text_new tw_new_logo\" href=\"https:\/\/twitter.com\/intent\/tweet?text=https:\/\/coingape.com\/goldman-sachs-raises-sp-500-target-to-5200-will-bitcoin-btc-follow\/\" target=\"_blank\" rel=\"noopener\"><br \/>\n  <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\"\/><br \/>\n<\/a>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; 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His curiosity in economics and finance draw his consideration in the direction of the brand new rising Blockchain Technology and Cryptocurrency markets. He is constantly in a studying course of and retains himself motivated by sharing his acquired data. In free time he reads thriller fictions novels and generally discover his culinary expertise.                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&amp;d=mm&amp;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&amp;d=mm&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD181098\">\n<p>  The introduced content material might embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. 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Meanwhile, the U.S. fairness markets have been surging, with the S&amp;P 500 reaching report highs of 5,000. Year-to-date, the index has already gained 5.54% in 2024, signaling robust efficiency. S&amp;P 500 Can Rally to 5,200 In 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