Bitcoin Forum

https://www.coindesk.com/goldman-sachs-bitcoin-may-reach-new-high-3600/

I doubt it, there are different things going on now that will push down the price. The negative sentiments regarding BTC-e and the arrest of the owner and the lost coins and also AlphaBay coins that are not being used. We normally see a cool down period when exchanges gets hacked or coins seized or even illegal markets being closed. I think we might see $3000 in about 2 months from now, when the scaling issues has been dealt with.

$3600 is very optimistic.  ::)

Perhaps after we know how things will play out with the hard fork later this year. As long as that isn't clear, I don't think we're ready for a price in that direction. As kakmakr also pointed at, we also have to see what's going to happen with the BTC-E funds. Right now there isn't anything known in terms of who's in control of these coins, and what will happen if they are still in control of the co owner. It's easy for that person just to run off with a huge load of coins and then hide somewhere, unless he's honestly looking to reopen that exchange again. I am sure he has made thousands of Bitcoins already, alongside millions in funds throughout the years - it would be a much appreciated gesture if he opened the exange just for the purpose of allowing people to withdraw at least their crypto funds. Everything better than having these crypto funds being auctioned off to fill the pockets of the government.

Next wave will be in next week ? Because $3600 seems very much possible after segwit activation and people holds their faith toward bitcoins. I am sure Goldman Sachs just plays with safer ground and anything lesser than $5000 based speculations will be proven right with in August month itself.

I am an average trader and I am using very basic indicators still I have come across many time speculating end levels of one rally. Considering with that, $3600 must be a starting point of next rally and which may last till $5500 levels. Just waiting to pass august 1st.

Sach's previous two analyses were eerily correct (their very first two at that!), especially when they seemed relatively brazen at the time. Hasn't changed my mind about expert analysis but perhaps whoever they hired as their main analyst for Bitcoin isn't as bumbling as I've come to expect from these giants. If there is a wave in the coming weeks, the new ATH over 3k should reach a considerable swell.

I'm more conservative. 3,400 should still be the 2017 unrealised target.

$3,600 in the next wave, that's be pretty impressive & damn good for us. I guess the question is when will the next wage be, perhaps as a result of August 1st?

It's interesting to read about these sort of news because after all these are the people that are largely controlling the central banking scene. But they seem to be really interested in bitcoin and even are publicly bullish about it. Mabye they bought in a few when price was high and now just wants to break even and therefore want to spread some good news about bitcoin? I don't know.

Maybe it's legit and there are some legit analytics going on, which is definitely good if that's the case.

I don't think that it's going to go that high. I suspect that price is just going to stay around $2500 at the moment because bitcoin cash fork is going ahead apparently. If no chain split were to occur then price will skyrocket but, this seems to not be the case.

I believe in this development. If after August 1, all will be fine and people will realize that the panic was for nothing again will be a large demand for bitcoin and the whales raise the price to $ 3,600 and sell bought for $ 2100-2200 coins. Good income.

I don't trust things like Goldman Sachs but it is clear as day that lot of people started to invest money on crypto coins and use. $3600 is pretty much realistic.

the article is saying exactly what you are saying ;D
she speculates about a period of fluctuations until this "new wave" starts and price breaks the ATH and reaches the $3691 as the previous resistance breaks.

here is the better version of the article:
http://www.businessinsider.com/bitcoin-price-goldman-sachs-technical-analysis-2017-7

http://static4.businessinsider.com/image/5977973e552be551008b66b0-960/7-25-17-bitcoin-technical-analysis-cotd.png

Thanks for the link.

In that case then i think there is more probability that it is a legit prediction instead of just a sort of publicity stunt that i mentioned beforehand because that is excatly what i think is going to happen as well.

However, what we don't know is when it's going to happen. And that's the thing that really matters.

I'd say that by the end of August we could see some renewed optimism in the bitcoin community as the panic of 1st August finally settles down, and bitcoin attempts to break that $3000 mark once again. If it does break the $3000 resistance then we can definitely expect a high number in the late 3000's.

The good thing with these news is that some people read it and react by buying more bitcoin, which in turn end ups sort of fullfilling the prediction. Bitcoin is likely to go up a bit if Goldam Sachs really goes around saying that.

We've been here before haven't we. Every time, BTCBTCBTC did recover and went even higher. Hopefully, the trend would still continue.

I find it quite surprising that a market analyst from Goldman and Sachs are into bitcoin market now. If I remember it correctly, there was another article from one of them saying the same thing. I think they are trying to attract investors or they have already investors around getting them as fund managers that's why they are hyping bitcoin now more than ever.

The prediction is really optimistic, but remember we have another hurdle to overcome regarding the looming hard fork. But if we are going to face it and succeeding then pretty much we are going to reach that price. I'd the last quarter of the year will really push bitcoin price to a new level and will resume and re-established itself again as the dominant crypto currency.

What you have mentioned usualy affects the price significantly but this all has already happened some time ago now and didn't dump the price that much. Now is the August 1 that still represents a "threath" although I think we will avoid the split. So there are still good chances for price over 3000$ very soon after that date.

I agree with that. If the BCC survives, the combined price could be $3600. But for the BTC, the price could be just $2800.

I think Goldman Sachs is full of shit. They can't event predict where their own stock is going, much less anything else.

http://www.cnbc.com/2017/07/24/goldman-sachs-downgrade-trading-prowess.html

Maybe they should stick to things they know. Like focusing on cooking their books more. Or laundering money for the criminal elite.

For me, I won't take Goldman Sachs serious because they are sure to always come with every prediction at any point in time and most times when ever there is downward trend to the price. Anyone who wants to invest in bitcoin should do so based on his own individual capacity without relying on any prediction and definitely not from Goldman who predicts without taking into consideration the current challenges and climbing out of same.

Did you know: 70% of the correct strategists' forecasts concern the very short-term forecasts of U.S. equities (less than one month) only. The farther away the horizon (beyond 3 to 9 months) the more their expectations deteriorate. Only 14% of the good forecasts are for longer than 9 months. In fact, there are a lot of technical and graphic analysts among the ranking gurus.

The most gurus are far from the most powerful ::)

I trade forex and stocks for 9 years. What i learned for 9 years is never follow goldman or any other investment companies.
They only speculate. Also do not follow bloomberg they sucks too.
they were telling OIL will down go under 22$ when its 40$ and now OIL is 52$ lol.
Also they were telling that EURUSD will go under 1.0000 and now EURUSD is 1.17 and still going up!
check their press releases with market data and you will see what i am trying to say.

Hmmm, I can agree with that assessment. But then, if Goldman Sachs is predicting $3600, does that mean we will see $1200 or $10,000? Of course they'll be wrong, but in which direction? :)

The examples you gave suggest that the price will fall instead. I'm not too confident either way. We don't know what future demand is for Bitcoin Cash (it seems exchanges got a lot more user interest than I would have expected, hence all the announcements and some of them paying out the forked coins). I think if there is significant interest in BCC (i.e. network split), this would be negative for the price of both coins (against the original market cap).

I appreciate the hope and speculation, but I think it will be hard to reach that number soon, the problem with forking will set back bitcoin and if BCC succeed then bitcoin will be having problem to go up, it will need a time to go up

I don't think that BCC will succeed. They have some powerful backers, but as long as the ordinary users and the exchanges doesn't support them, they don't have any future. That said, I will hold on to my BCC coins even after August 1. Not because I am supporting the altcoin, but because I am taking a very conservative stance right now.