Goldman Sachs Says Bitcoin Can Fall Under $6k

Technical analysts team from Goldman Sachs has new Bitcoin price forecast
13 March 2018   392

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 to Open BTC Futures Trading Desk

The exact date of launch of the new service is still unknown, but the board of directors of the bank has already approved the initiative
03 May 2018   284

In the coming weeks, leading investment bank Goldman Sachs will begin using its own capital to trade bitcoin futures on behalf of customers, the New York Times reports.

The exact date of launch of the new service is still unknown, but the board of directors of the bank has already approved the initiative. Goldman Sachs also plans to create its own flexible version of the futures, known as the" settlement forward ", which will offer customers.

According to one of the managers of Goldman Sachs, Rana Yared, the decision was made against the backdrop of a growing number of client requests and an interest in buying bitcoin as an alternative asset.

I would not describe myself as a true believer who wakes up thinking Bitcoin will take over the world. For almost every person involved, there has been personal skepticism brought to the table.

Rana Yared

Executive, Goldman Sachs

Representatives of the bank stressed that further deepening of Goldman Sachs into the cryptocurrency sector, including operations directly with bitcoin, will be possible only after full approval by US regulators.

The first trader of digital assets, which the bank hired for a new initiative, was Justin Schmidt. Prior to that, he was engaged in trading in the hedge fund Seven Eight Capital, but last year he left the organization and began working with cryptocurrencies