Investment banking giant Goldman Sachs expects Ethereum to nearly double its value by the end of the year, CryptoPotato reported.

  • Goldman Sachs Managing Director Bernhard Rzymelka said Ethereum could climb to $8,000, as digital tokens have historically traded in line with inflation breakevens in the past two years.
  • Rzymelka noted that gains are possible in the next two months even after Ethereum hit a record-high of $4,460 a few days ago, should the correlation with inflation FWDs persist.
  • Goldman Sachs analysts in July already forecasted ETH to eventually surpass Bitcoin in terms of a store of value, citing the blockchain network behind the digital token.

Rzymelka said the Ethereum chart suggests a late-stage rally, with longer-term market top ahead. ETH is up 2.53%, while BTC is up 2.21%.