Now's an Excellent Time to Buy Bitcoin - Goldman Sachs
Thursday, August 18 2019
"When you invest, you are buying a day that you don’t have to work." –Aya Laraya 5-Day Change •Bitcoin: $10,032.82 -15.68% •Ethereum: $183.93 -13.54% •S&P 500: $2,849.90 -1.17% •Dow Jones: $25,519.20 -2.20% Top trading ideas: BEARISH CROSSOVER: Price could tap support at ~$9,500 BITCOIN: New Upward Trend Forming, Could We Hit $12,000 Again? BITCOIN: Getting ready to break in either direction
Goldman Sachs: Nows an excellent time to buy Bitcoin
Bitcoin is set to claw back up to $14,000... at least according to a Goldman Sachs technical analysis. Of course, that makes it a great time to buy Bitcoin - if you buy Goldman’s story, that is. And though Goldman’s analysis has been overtaken by current events (namely, the recent price drop to sub $10,000), it still has a chance at coming true, as long as, in Goldman’s words, ‘...it doesn’t retrace further than the $9,084 low.’ And with the price hovering around $9,900 at press time, we may just see the price head back up.
Stocks falling amid Argentina and Hong Kong turmoil
It’s not looking good for equities... as if the US-China trade war wasn’t enough, the protests in Hong Kong have wiped out the Hang Seng’s gains since January, and there’s no way to go but down. Overall, markets have experienced the 2nd worst day this year, and with a recession looming on the radar, there’s no guarantee that there’s going to be a silver lining any time soon. And Hong Kong is far from the only market in the grips of political unrest - Argentina ‘s outlook is looking increasingly grim as well.
Wall streets most loved stocks can't shake investor fears
Energy stocks aren’t attracting interest... but they may be on track to deliver the best returns in the next 12 months. But investors aren’t biting the bullet - instead focusing on services and tech over oil and gas. A lot of that has to do with fears that oil may become the next front in the US-China trade war saga, as China looks for more ways to punch back at US threats of more tariffs.