Goldman Sachs to Consider Crypto Trades Beyond Futures

According to David Solomon, the bank may launch futures trading in the future, settlements on which will be carried out in bitcoins
21 June 2018   868

The COO of Goldman Sachs, David Solomon, said that the company is already discussing the creation of full-fledged services for working with cryptocurrencies. This is reported by Bloomberg.

The company may not limit itself to one launch of the bitcoin futures trading platform. As part of this service, Goldman Sachs plans to offer its customers a flexible version of the futures.

We are clearing some futures around Bitcoin, talking about doing some other activities there, but it’s going very cautiously. We’re listening to our clients and trying to help our clients as they’re exploring those things too.

David Solomon

COO, Goldman Sachs

According to David Solomon, in the future the bank may launch futures trading, settlements on which will be carried out in bitcoins, and not in fiates, as it is done now. While he does not disclose what else the bank is preparing for customers.

Despite the "flexible" attitude of the bank to crypto-currency solutions, in June CEO Goldman Sachs Lloyd Blankfein said that bitcoin does not deserve his attention and he himself does not use cryptocurrencies.

In December 2017 it became known that Goldman Sachs is working on creating a trading platform for digital currencies. Its launch was scheduled for June.

Goldman Sachs to Give Bullish BTC Forecast

Goldman Sachs experts expect to see bitcoin near the $ 13,971 mark
12 August 2019   761

While Wall Street representatives sometimes come back to criticize Bitcoin, the well-known investment bank Goldman Sachs gives its own forecast for the price of cryptocurrency. To the surprise of many, it turned out to be bullish.

A note for Goldman Sachs customers on Twitter shared by Three Arrows Capital CEO Su Zhu.

As follows from the publication, in the short term, Goldman Sachs expects to see bitcoin near the $ 13,971 mark.

An unnamed analyst builds his forecast based on the Elliott Wave Theory. According to him, with a high degree of probability, bitcoin will rebound from the level of $ 11,094 in the coming days. After this, the opportunity will arise “for at least one more leap to $ 12,916 and $ 13,971”.

On the other hand, a pullback from the indicated levels should be considered as an opportunity to buy cryptocurrency against the backdrop of weakness, if its rate does not fall below $ 9,084.

What is more surprising: that Goldman Sachs has a bullish target on BTC, that they have any target at all, or that they use Elliott Wave Theory? I'm personally most surprised they cant be bothered to use a chart that includes weekend price action.

Su Zhu
CEO, Three Arrows

Short-term stop orders for long positions should be placed at $ 10,791, according to Goldman Sachs.