Major news has been released about cryptocurrency Bitcoin’s price action and how it relates to financial giant, Goldman Sachs. Goldman Sachs has finally made a complete U-turn and utterly reversed its stance on Bitcoin (BTC) and Web3.
For new Web3 projects such as Metacade (MCADE), which have been growing significantly in recent weeks, this is phenomenal news. So, just how valuable could MCADE become during 2023 and beyond?
Goldman Sachs changes its stance on cryptocurrency Bitcoin’s price action
Goldman Sachs recently released a report that showed the cryptocurrency Bitcoin’s price action has become predictable enough to be classed as an investable asset. Goldman Sachs claims that Bitcoin is, so far, the best-performing asset during 2023.
In the past, Goldman Sachs was actively against investing in cryptocurrency Bitcoin, as price action was cited as too volatile and speculative. In turn, this led to the financial giant opposing the cryptocurrency Bitcoin’s price potential as a valid asset class.
With Goldman Sachs now warming to Bitcoin’s price volatility, Web3 projects like Metacade are set to benefit greatly. Goldman Sachs are treating cryptocurrencies, such as Bitcoin and Metacade, as a brand-new asset class worthy of long-term investment.
For retail investors, cryptocurrency remains a high-risk high-return asset class. While Bitcoin price action has been highly volatile throughout its history, the BTC token now suffers from the law of diminishing returns. In contrast, Metacade is in its earliest stage of investment and could even outperform Bitcoin at its current price level.
Can MCADE reach $1 in 2023?
The MCADE token presale recently launched, which is the earliest funding round for cryptocurrencies. The presale has attracted massive hype as MCADE has raised $9.6m in just 15 weeks – a ground-breaking run of the gauntlet that has many experts forecasting powerful future price action.
After the presale is complete, the MCADE token will be launched on exchanges, further boosting its exposure to a broader crypto investor audience. Combined with the release of its metaverse arcade concept for Web3 gamers, Metacade looks set to skyrocket in 2023.
Experts are predicting a $1 price level before the end of the year – a 50x price rise from the end of the presale event. This would far outperform the cryptocurrency Bitcoin’s price action, which has been highlighted as the best-performing asset in 2023 by Goldman Sachs.