After numerous client requests, Goldman Sachs has reportedly started covering bitcoin. The firm released a report on Monday with a bearish outlook for the digital currency.‘Due to Popular Demand’
Popular Demand Spurs Goldman Sachs to Start Covering BitcoinBitcoin.com recently reported on hedge funds quietly investing in bitcoin. An article by Zero Hedge on Monday confirms that hedge funds are actively trading the digital currency. In addition, fund managers that are clients of Goldman Sachs have also petitioned the firm’s chief technician Sheba Jafari to start covering it.
Goldman Sachs subsequently released a client report called “GS Techs: Quick BTC” on Monday, according to the publication. “Due to popular demand, it’s worth taking a quick look at bitcoin here,” Jafari wrote, adding that the firm’s overall outlook is:
Wary of a near-term top ahead of 3,134. Consider re-establishing bullish exposure between 2,330 and no lower than 1,915.
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