- Goldman Sachs expects the S&P 500 index to rise to 5,200.
- Surpassing 5,000, the S&P 500 enhances the positive outlook in the stock market.
- The correlation between Bitcoin and the U.S. stock market is showing an increase.
On Monday, Bitcoin strives to sustain its position above $52,000, while the crypto community closely watches Goldman Sachs’ forecast for the S&P 500. The U.S. stock market has surged, with the S&P 500 trading at historic highs above 5,000. The index has shown an increase of 5.54% so far in 2024.
Goldman Sachs analysts revised their forecast for the S&P 500 index after it surpassed 5,000 points. Led by David Kostin, the team has set a year-end target of 5,200 for the S&P 500. This represents a 3.9% increase from the current level. Bitcoin’s price tends to move in correlation with the S&P 500.
These predictions from Goldman Sachs are seen as positive for the stock market. The expectation of an upward trend indicates that the increase in the U.S. stock market will continue. Other expert analysts, like Tom Lee from Fundstrat Global Advisors and John Stoltzfus from Oppenheimer Asset Management, also share a similarly positive view, believing…
Source:coinedition.com
