Goldman Sachs Says Bitcoin Can Fall Under $6k

Technical analysts team from Goldman Sachs has new Bitcoin price forecast
13 March 2018   172

The team of technical analysts at the investment bank Goldman Sachs, headed by Sheba Jafari, who repeatedly gave predictions for the bitcoine rate, expects that the price of the largest crypto currency may fall below the minimums that were observed in February. This is repoted by Business Insider.

The break is significant as implies potential for a more impulsive decline. The next meaningful level is down at $7,667 to $7,198. Getting а сlоѕе brеаk thіѕ tіmе аrоund wоuld wаrn оf ѕtruсturаl dаmаgе, іnсrеаѕіng thе rіѕk оf nеw lосаl lоwѕ (<5,922). At thіѕ роіnt, nееd tо gеt bасk thrоugh 9,322 (thе Fеb. 26th lоw) fоr thіѕ tо ѕtаbіlіze. 

Sheba Jafari

Head of technical analysts, Goldman Sachs

In January, against the backdrop of a rapid depreciation of bitcoins, Jafari urged investors to monitor the level of $ 10,000.

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   127

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.