He said Goldman Sachs predicts that the Ethereum price could rise to $8,000 by the end of the year. Analysts at Goldman Sachs explained in a statement that “cryptocurrencies have been trading in line with inflation breakouts since 2019.”

Goldman Sachs reportedly announced in a research note distributed by Bernhard Rzymelka, managing director of Global Markets, that the price of Ethereum (ETH) could reach $8,000 by the end of the year.

Citing a chart showing the Bloomberg Galaxy Crypto Index (red) on a log axis and a 2-year forward 2-year inflation swap (blue), Goldman’s analysts noted that “the local floor appears to be supportive for ethereum.”

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.