Recently, Joshua Q. Miller, head of Goldman Sachs European Investment Management Division, made a speech at the Nordic Economic Forum conference, arguing that the Fed’s policy of rate hike and balance sheet reduction policy is likely to peak this year, and 2023 will be a boom return cycle for risk assets such as gold and cryptocurrencies.
Encryption technology is one of the most promising innovative technologies that have emerged in recent years. It will revolutionize the way a generation lives, works and interacts. Due to the epidemic in 2020 and the Fed’s release of dollar liquidity and on other factors, gold, Bitcoin, etc. have ushered in a bull market in nearly two years. While, at the end of 2021, due to external reasons such as interest rate hikes and tapering, risk assets ushered in a recession period, with crypto market capitalization has fallen sharply below $1 trillion.
Joshua Q. Miller believes that the recession will most likely end after September this year, and a new round of bull market cycle will come in 2023. It is reported that Joshua Q. Miller worked as the manager of IMD at BofA Securities, Inc. In 2016, he joined Goldman Sachs as the VP of the European IMD, leading the team to achieve multiple financial business goals, with over ten years of rich Financial Industry Investment and Investment Research experience.