Goldman Sachs to Hire Crypto Trading Pro

Justin Schmidt will study of the possible interaction of Goldman Sachs with the cryptocurrency market
24 April 2018   908

A spokesperson for the leading investment bank Goldman Sachs confirmed that the organization hired trainee and graduate of the Massachusetts Institute of Technology (MIT) Justin Schmidt to the post of vice president and head of the department for digital assets markets within the bank's securities division. This is reported by Business Insider.

In response to client interest in various digital products, we are exploring how best to serve them in the space. At this point, we have not reached a conclusion on the scope of our digital asset offering.
 

Goldman spokeswoman

The main task of Schmidt will study of the possible interaction of Goldman Sachs with the cryptocurrency market, and also, probably, the launch of its own crypto trading desk.

The bank stressed that in his position Schmidt would not trade any assets, including crypto-currencies.

Schmidt, a graduate of Massachusetts Institute of Technology, joins the investment bank from Seven Eight Capital, where he was a senior vice president. Previously, he was a portfolio manager at WorldQuant and a vice president at Merrill Lynch.

Goldman Sachs to Give Bullish BTC Forecast

Goldman Sachs experts expect to see bitcoin near the $ 13,971 mark
12 August 2019   246

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.