Goldman Sachs Considers Crypto as Own Risk

Investment banking giant has cited its connection to cryptocurrencies and blockchain as a potential business risk
27 February 2018   1029

Investment bank Goldman Sachs assumes that its involvement in the sphere of crypto-currency may cause certain risks. This is written by CoinDesk.

According to the report for 2017 fiscal year, published on February 26, Goldman Sachs believes that his business can be influenced by the fact that he works with clients and invests money in companies related to the crypto-currency sector. Among other things, the bank provides access to bitcoin futures for a certain group of its customers and has a stake in the Circle start-up, which on Monday became the owner of the Poloniex crypto currency exchange.

We may be, or may become, exposed to risks related to distributed ledger technology through our facilitation of clients' activities involving financial products linked to distributed ledger technology, such as blockchain or cryptocurrencies, our investments in companies that seek to develop platforms based on distributed ledger technology, and the use of distributed ledger technology by third-party vendors, clients, counterparties, clearing houses and other financial intermediaries.
 

Goldman Sachs Report

Although Goldman Sachs does not speak directly about this, these fears may also explain the fact that to this day the bank is not in a hurry to provide its clients with access to a wider range of tools for working with cryptocurrencies.

Goldman Sachs to Give Bullish BTC Forecast

Goldman Sachs experts expect to see bitcoin near the $ 13,971 mark
12 August 2019   822

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.