Goldman Sachs: Bitcoin May Reach New High Over $3,600
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Reversing a bearish outlook for the price of bitcoin, Goldman Sachs chief technician Sheba Jafari told clients in a new report this week that the cryptocurrency may reach a new high over $3,600 soon.
As profiled by Business Insider, the movement is in line with Jafari's earlier analysis, reported on June 13, when she suggested the price would temporarily drop below $2,000, only to then turn bullish.
Indeed, since surpassing its all-time high over $3,000 on June 12, the bitcoin price tumbled to as low as $1,836 on the CoinDesk Bitcoin Price Index. Shortly thereafter, it hit a one-month high across major exchanges amid progress on its technical roadmap.
With this much foreseen, Jafari now believes the price of bitcoin is in for a period of fluctuation, at least until a new wave of price growth begins.
"Anything above 3,000 (June 13th high) will suggest potential to have already started wave V, which again has a minimum target at 2,988 and scope to reach 3,691," Jafari wrote in the note.
Sourse: https://www.coindesk.com/goldman-sachs-bitcoin-may-reach-new-high-3600/
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nickeles8
BTS6xCEUvmnM4bJvkLUv7jCGrGG5qvNKNivUXjbvPqBSy2LJxs1sV
Let lets hope bitcoins will make it that high, or even further...to the moon! 🚀🚀🚀
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That is very optimistic. Let's hope it happens. 🐓🐓
I wonder, how large is GS' position and what is their cost basis for Bitcoin?
Yes, they've been claiming this for a while now and during the downfall, Jafari stated that BTC could possibly go up to almost 4000 usd (~3915 usd from another article i read a few weeks ago)