Goldman Sachs Analysts Shoot For Ethereum At $8,000 With Expected 80% Rally

Ethereum recently hit a new all-time high following a tremendous bull run alongside top crypto bitcoin. The altcoin has enjoyed glowing success as the market turns to the upside in terms of sentiment. This has helped push ETH and countless altcoins towards new highs in the market. Expectations have been on the rise following this success and Goldman Sachs market analysts believe there are merits to the expectations. Ethereum’s rally towards $4,400 has set it on a path for even greater value. Faith in the asset has been on the rise in the past few months despite the slow month of September. This has caused an influx of both retail and institutional investors into the digital asset, who are investing for the long-term rather than chasing short-term gains. The push towards ETH at $10K continues and market analysts are marking a path that could lead the market there. Related Reading | MicroStrategy Bent On Increasing Bitcoin Bet After 9,000 BTC Purchase, Says CEO Gearing Up For $8,000 Market analysts at Goldman Sachs have said Ethereum’s price movements in line with inflation if continued, may place the asset in position for another upward rally. Goldman Sachs Global Markets Managing Director Bernhard Rzymelka circulated a note that outlined the correlation of ETH’s price movements with inflation breakevens for the past two years. Inflation has been one of the driving forces behind the adoption of crypto in recent times. As c...