Bitcoin Forum

Goldman Sachs Warns Investors Not to Ignore Bitcoin any Longer

Goldman Sachs has done a complete 180 turn as far as Bitcoin and cryptocurrency are concerned. That is not entirely surprising, as Bitcoin shouldn’t be ignored by anyone. However, the institution is now actively telling their investors not to dismiss Bitcoin any longer. Given the recent price surge, that outcome isn’t surprising by any means. It will be interesting to see if their words have any major impact, though.

http://www.newsbtc.com/2017/08/13/goldman-sachs-warns-investors-not-ignore-bitcoin-longer/

It looks almost too good to be true. I like how Goldman Sachs has finally made the change into taking Bitcoin seriously, unlike other financial institutions that are throwing around with warnings and tullip bubble statements. I have always believed that at some point, institutions would be taking a serious position into Bitcoin, and ultimately, lifting the price to unseen levels. If a few of these massive financial institutions start convincing their wealthy clients to enter the Bitcoin market to realize a new level of growth, we are up for a few very interesting years in terms of how the price will develop itself. I usually am quite conservative in my way of thinking and looking forward, but this really gets me pumped up. ;D

Goldman Sachs was spot on with its previous predictions, and I am eagerly looking forward to more of this. Bitcoin has been outperforming basically every asset for years now, and no matter how anti Bitcoin certain entities may be, or may have been, this has gained Bitcoin a whole lot of credits. I am quite certain that while Bitcoin gets legalized by more and more countries, the global level of adoption will increase significantly. I am waiting for the day that people will start shifting from gold to Bitcoin when it comes to usage as store of value. Bitcoin is superior in almost every aspect -- gold has the physical advantage that allows people to transact offline.

Goldman Sachs predicted that the BTC price would peak at around $3600-3900 for now.  Seems like they were pretty much correct and BTC has reached a temporary peak at about $4050-4100. 

However, it's important that people do not follow Goldman Sachs just because they now agree.  It's Bitcoin users who decided to invest despite not receiving advice to do so from major financial institutions, and Bitcoin users should be equally intelligent in knowing when to stop.

Unfortunately a lot of Bitcoin users are not like that and they feel so alternative/cool using Bitcoin that they don't want to acknowledge any negativity.  Goldman Sachs can't be sure what will happen at this stage because BTC can fall just as sharply as it has risen and bear markets tend to be much quicker and more desperate than bull markets.

For you who don't know ; The Goldman Sachs Group, Inc. is an American multinational finance company that engages in global investment banking, investment management, securities, and other financial services including asset management, mergers and acquisitions advice, prime brokerage, and securities underwriting services. https://en.m.wikipedia.org/wiki/Goldman_Sachs
As a company which handles so much investment and asset management, then their customers and more people will pay attention to bitcoin, and surprisingly bitcoin has increase from less than $1000 in the early of this year and bitcoin has reach over $4100 today across global exchanges. The potential is limitless for bitcoin, we don't know how much bitcoin could gain if more business and companies adopt or invest in bitcoin in this year.

The doubter in me is saying that Goldman Sachs might have bought bitcoins under 1000 dollars and now think this is a good time to hype it more and then they start to unload them in the market.

We became bitcoiners because we do not trust the banks. That should not change now.

There are going to be a lot of investors who will jump on the bandwagon, following GS's recommendation like sheep - looks like the BTC correction has been postponed for now.

A think media reports like this help somewhat to push bitcoin to new levels. I mean, cash is pouring to the market right now and we don't know who and how investors just suddenly jumps into the bandwagon of bitcoin. I guess they are now preaching bitcoin to their client as well and saying that bitcoin can't be overlooked specially this year as the price grows exponentially like 300% perfect. Do you think we have to thank them? I think so, but of course them being a bank, we can't really put a lot of trust in him, just saying.

Correct, Gold Sacks has earned a horrible reputation among people who pay attention. If nothing more, we have a clear sign of a short & medium-term top for Bitcoin.

Goldman Sachs has finally realized its mistake of just looking at Bitcoin and not becoming one of the earlier participants. Now that Bitcoin has proven itself to be the most viable investment tool they are now telling their clients to include Bitcoin on their many baskets.

Well, these people will go where the money is as long as they are not dealing with illegal transactions. We should be welcoming Goldman Sachs to the Worldwide Bitcoin Club. It is really about time and I am sure that many would be following this move.

And now they are saying that bitcoin will reached is ceiling at $4800  then it will crashed to $2200. LOL Just like what I said before I really don't trust in them simply because they don't understand what's behind bitcoin success. Maybe you are correct that they have put investment and really hyping it now and later will cash it out. That's how tricky and un-trusted this banks are really are. :)

Not their style.