Goldman Sachs Just Set a Bullish Target Price on Bitcoin. Does That Look Real?

By Ed-california | CoinBuzz | 1 week ago

$2.06 tipped

Yes, in my opinion. The forecast seems believable to me, and it doesn’t like Bitcoin is going to dip below the $9000 mark.

Goldman Sachs has made a short term prediction on the price of Bitcoin, saying that a target of $13,971 is expected based on the Elliott Wave Theory.

The Elliott Wave Theory is used to make predictions on prices based on extremes in investor psychology, as well price highs and lows. The analyst said that the price would bounce back from 

The analyst also said that this could be the first bump in a wave count of five, meaning that the price is predicted to go higher $12,916 to $13,971. However, this could be not the case if the price goes lower than $9,084. 

Goldman Sachs has shown a lot of interest in cryptocurrencies, despite initially being averse to the idea of digital assets. The same is true for numerous other big names incumbent banks, like JP Morgan Chase. Large banks have come to accept that digital assets provide a lot of advantages over traditional assets. JP Morgan Chase, as it is well known, has even gone on to release its own cryptocurrency, called the JPM Coin.


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