Goldman Sachs: Bitcoin to grow then to drop significantly

Goldman Sachs analytics predictions: Bitcoin is to grow more but then to drop to $2,221
15 August 2017   3164

The Bitcoin price may grow to almost $5,000 but after that it is likely that the correction will take place and the price will drop to about $2,000, claims Goldman Sachs' chart analyst Sheba Jafari, CNBC reports.

Thus, according to the analyst, Bitcoin is riding a "fifth wave" of an "impulsive" rally that could run as high as $4,827 in the short term. However, "once a full five-wave sequence is in place, the market should in theory enter a corrective phase," Sheba Jafari argues.

This can last at least one-third of the time it took to complete the preceding advance and retrace at least 38.2 percent of the entire move.

Sheba Jafari
Goldman Sachs' chart analyst

At the time of the report's publication, Jafari said that correction could take Bitcoin down to around $2,221.

Bitcoin price charts on Bitcoin price charts on

Although Jafari didn't explicitly name it, the five-wave principle of technical analysis is known as the "Elliott Wave." Thus, earlier The Elliott Wave Theorist newsletter also pointed out that Bitcoin is "making a final fifth wave from six cents" after predicting the digital currency's surge seven years ago.

Bitcoin Waves on Bitcoin Waves on

Bitcoin would also have to fall under $2,935 "to signal that a top is already in place," Jafari detailed in the report.

San Francisco Gathers Crypto Community in One Place

CB - Cryptocurrency Blockhain Conference will be held on March 22-23, 2018 at San Fracisco Marriott Marquis, 780 Mission Street
22 March 2018   22

On March 22-23, 2018 at San Francisco, people from all over the world will come together to put on a top-tier event bringing blockchain experts and business leaders in one place. Representatives from businesses and organizations such as SEC, Oracle, 500 Startups, Cryptereum, Ambisafe, Changelly, Blockchain Application Builder among others will be in attendance alongside venture capital groups, crypto funds, investors from the digital currency community and an audience of over 3000 attendees who are somehow connected with the blockchain space.

CB Conference
CB Conference

CB is a series of premium Blockchain events that connect ICO companies with the brightest industry minds and the latest in technological innovation. CB is the place where the future of Blockchain Industry is unboxed and brought to life. And when you consider this study by U.K. research firm Juniper Research, more than half of the world’s large corporations are looking into blockchain (distributed ledger technology), then it’s a high time you consider the blockchain technology. The research highlights that 57 percent of large corporations- defined as any company with more than 20,000 employees- were either actively considering or in the process of deploying blockchain. And two-thirds of companies surveyed said that they expected the technology to be integrated into their systems by the end of 2018.

It is clear that companies across the board have a significantly greater understanding of blockchain technology than was the case 12 months ago. This stems in part from a surge in R&D (research and development) both internally and in partnership with third parties, with a recognition that blockchain has the potential to be deployed in a variety of use cases.
As the number of research projects has increased, so too has awareness, both amongst the participants and elsewhere in their industries, with competitor companies in turn beginning to consider whether they too should seek to gain competitive advantage from deployment.

Juniper Research Study

But here is another opportunity to interact with and learn from the best in the industry, you can’t afford to miss the CB – Blockchain Conference in Silicon Valley. Here are some of the benefits you stand to gain:

  • As an Entrepreneur, you will be able to:
    • On-board anchor investors and top-notch advisers.
    • Give interviews to the top bloggers and journalists.
    • Find partners and high-quality contractors.
  • As an Investor, you will be able to:
    • Meet founders and get in depth insights for investments.
    • Find LPs and grow the funds under management.
    • Exchange market view and investment ideas with peers.
  • As a Journalist or Blogger, you will be able to:
    • Get first-hand access to decision makers and trendsetters.
    • Be the first to learn resonating insights.
    • Find partners to grow your audience.

Headline speakers include:

  1. Nadia Brannon, Office of Compliance Inspections and Examinations at U.S. Securities and Exchange Commission.
  2. Anant Kadiyala, Director – Blockchain&IoT Industry Solutions, ORACLE.
  3. Edith Yeung, One of the top Silicon Valley investors (Inc Magazine), partner at 500 Start-ups. Investor in over 40 start-ups (Hooked, DayDayCook, Fleksy (acquired by Pinterest), Human (acquired by Mapbox), AlSense, Penrose, Cryworks, Sllk Labs, Piper, Apptopia, Mobile Action, Andy OS, Quickly, Powercore, Pack, Ingrain, Switch, Bento, Palantir, etc.). Advisor to Dolphin Browser, Partner at RightVentures.
  4. Grant Fondo, former federal prosecutor, N.D. of California, a partner in Goodwin’s Securities Litigation + White Collar, Privacy + Cybersecurity.
  5. Konstantin Gladych, CEO, Changelly.
  6. Alex Kurashenko, Small Cap Nation, Investment Relations.
  7. Patrick Baron, CEO, Ambisafe Financial.
  8. Amir Rafizadeh, Managing Director of Client Relations and Member of Advisory Board; Kruse Asset management, LLC.
  9. Rafael Soultanov on ICO pre marketing and post ICO token growth
  10. VP at Crypterium
Mariott in San Francisco
Mariott in San Francisco - place of conference
Mariott in San Francisco
Mariott in San Francisco - place of conference
Mariott in San Francisco - place of conference
Mariott in San Francisco - place of conference

The CB – Blockchain Conference will feature the following headline talks:

  1. CRYPTO BIG PICTURE- This will feature the following topics:
  • Transforming the economy & society
  • Supercharging peer-to-peer commerce
  • New governance & decentralized autonomous orgs (DAOs)
  • Virtual globalization
  • Enhancing social impact
  • Expanding freedom in vice industries
  • Outlook for 2018 and the Future
  1. INVESTOR’S TRACK- This will feature the following topics:
  • Crypto macroeconomics
  • ICOs & Disruption of Venture Capital
  • Tokenomics& Utility
  • Bitcoin – Digital Gold
  • App tokens vs Protocol tokens
  • Crypto investments
  1. FOUNDER’S TRACK- This will feature the following:
  • 50+ companies: Token Pitch Competition
  • Token Sale – How-to
  • Building a Blockchain Community
  • Token Sale Legal Panel
  • Exchange panel – How to get listed
  • Crypto media influencers
  • Token economy
  1. APPLICATIONS COVERED- This will feature the following:
  • Cross-border payments
  • Tokenization & Securitization of assets
  • Non-Financial Applications
  • Payments, Ecommerce & Loyalty
  • Enterprise Blockchain
  • Social Media & Micropayments
  • Democratizing AI
  • Blockchain + AR
  1. DEVELOPERS TRACK- This will feature the following:
  • Smart Contract Development
  • Privacy and Identity
  • Consensus in Blockchain Systems
  • EthereumdApp Development
  • Security and Scalability
  • Blockchain Development Tools
  • Blockchain architecture lightning talks

The conference will also include a special event and this will feature the following:

  • Napa Valley Wine Tour
  • Award ceremony for ICO Start-ups Pitch Competition
  • San Francisco Bay Tours – boat cruises around the bay
  • Power networking with blockchain experts and investors
  • After-Party
  • VIP Lounge

Registration for the CB – Blockchain Conference is still open, though the tickets are selling out faster than the organisers had earlier anticipated. You can find more information here.

Press contact:

Rafael Soultanov,