[2017-11-7] Goldman Sachs Analysts See Possible Bitcoin Price Jump $8,000?

[Deepiefface10]

According to Business Insider and Bloomberg, the note came as the cryptocurrency's price cleared a new all-time high above $7,600. Technical analysts Sheba Jafari and Jack Abramowitz cautioned that the signs are pointing to a new run up – albeit one that may take time to develop.

"This break indicated potential for an impulsive advance, one that could reach at least 7,941. This is the minimum target for a 3rd of 5-waves up and should therefore be a level from which to watch for signs of a consolidation," they wrote, according to Bloomberg.

At press time, the price of bitcoin is trading at around $7,092, according to CoinDesk's Bitcoin Price Index (BPI).

The note represents the latest instance in which the investment bank has offered some possible guidance for its client base, which Goldman began circulating earlier this summer.

And amid rumors that Goldman is considering a new client-facing brokerage built around cryptocurrencies, its influential CEO, Lloyd Blankfein, has struck a decidedly neutral tone on bitcoin, declaring his "openness" in recent statements and interviews.

"I’ve learned over the years that there’s a lot of things that work out pretty well that I don't love," he told Bloomberg last week.

Source https://www.coindesk.com/8000-goldman-sachs-analysts-see-possible-bitcoin-price-jump/

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[warrior333]

No analysts I can't say what the price will be in the future. We constantly see how some analysts are predicting rising prices in the future, and other analysts predict a fall in prices. Some even believe the bitcoin bubble. How can they be trusted? I don't listen to such predictions and to act in its sole discretion. Nowadays, this is the best tactic.

[iamTom123]

"I’ve learned over the years that there’s a lot of things that work out pretty well that I don't love."

I love that quote and I am hoping that Mr. Jamie Dimon can read it. That summarized the whole attitude of Goldman Sachs CEO Lloyd Blankfein and indeed that means he is open to such an idea of getting involved with Bitcoin even if he may have
 some reservations on it. This is the kind of an attitude a good leader should exhibit when faced with something that can be profitable and can be in demand with the clients. I am sure that soon Goldman Sachs will yield to pressures from their clienteles to finally make a big splash into cryptocurrency. And it would be a big good news for the world of cryptocurrency.