Goldman Sachs said that if Ethereum continues to track inflation expectations, it is likely to skyrocket 80% in the next two months to reach $8,000.
Bernhard Rzymelka, managing director of Goldman Sachs Global Markets, pointed out that cryptocurrency assets have been closely tracking inflation in the past few years.
By comparing the Bloomberg Galaxy Cryptocurrency Index and market-based inflation expectations indicators, Bernhard Rzymelka found that there is a strong correlation between the two.
He said that Ethereum has a particularly close relationship with inflation. He added that this cryptocurrency is procyclical, and when the economy performs better, it tends to rise.
According to the picture given by Bernhard Rzymelka, it can be seen that by the end of this year, Ethereum may soar to $8,000, which is an 80% increase from the historical high of $4,600 set on Tuesday.
As of writing, Ethereum rose by 6.45% to 4,583.99 US dollars within the day. Previously, this cryptocurrency once exceeded 4,600 US dollars, setting a new all-time high.
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