[2018-08-08] Goldman Sachs Forecasts More Crypto Declines: BTC Watch

[Vladdirescu87]

David Solomon, incoming CEO at Goldman Sachs has revealed that he intends to put more Bitcoin and crypto services in the investment company’s portfolio. Still and all, the Goldman Sachs 2018 mid-year economic outlook report alludes Bitcoin will go on moving down for an anticipatable future.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/goldman-sachs-forecasts-more-crypto-declines-btc-watch/

[vy99]

These guys are all over the place, one day I hear about how bullish they are on the crypto market and another day it's news like this.

[veleten]

These guys are all over the place, one day I hear about how bullish they are on the crypto market and another day it's news like this.

this solely depends on whever they  want to buy or to sell 
if you hear them say bitcoin will cost 1005000$ by the end of 201x
this means that they have a solid portfolio of crypta,but whenever you hear a forecast that bitcoin is going to drop like a stone
they wanna buy,so take it with  a pinch of salt

[vy99]

These guys are all over the place, one day I hear about how bullish they are on the crypto market and another day it's news like this.

this solely depends on whever they  want to buy or to sell 
if you hear them say bitcoin will cost 1005000$ by the end of 201x
this means that they have a solid portfolio of crypta,but whenever you hear a forecast that bitcoin is going to drop like a stone
they wanna buy,so take it with  a pinch of salt

Yeah you're right. That's why at this point I pretty much ignore it whenever Goldman Sachs talks about Bitcoin.

[darkangel11]

These guys are all over the place, one day I hear about how bullish they are on the crypto market and another day it's news like this.

They used to be totally against crypto a couple years ago, just like Jimmie Dimon. I'm repeating it every time someone "forecasts" anything in BTC. You just can't do it accurately because a single big positive piece of news can turn the world upside down. That's the beauty of crypto. IF ETFs get a green light it will be bull market all over again, if not we may find a lower low at 5k USD.

[vy99]

These guys are all over the place, one day I hear about how bullish they are on the crypto market and another day it's news like this.

They used to be totally against crypto a couple years ago, just like Jimmie Dimon. I'm repeating it every time someone "forecasts" anything in BTC. You just can't do it accurately because a single big positive piece of news can turn the world upside down. That's the beauty of crypto. IF ETFs get a green light it will be bull market all over again, if not we may find a lower low at 5k USD.

I'm still skeptical that the ETF getting rejected will send things into such a dramatic spiral. I believe it will dip for sure but I don't think it will be enough to go below $5k. Either way my money (literally and figuratively) is on it getting the green light.

[squatter]

David Solomon, incoming CEO at Goldman Sachs has revealed that he intends to put more Bitcoin and crypto services in the investment company’s portfolio. Still and all, the Goldman Sachs 2018 mid-year economic outlook report alludes Bitcoin will go on moving down for an anticipatable future.

I've been feeling pretty dismal about this market, so it's actually refreshing to see this forecast from Goldman Sachs. I feel like they often release bearish forecasts near market bottoms -- probably to get you to sell into their bids.

Either way, as someone who observed the last major bear market (2014 on), it's best to maintain reserved expectations about price performance after a run-up like 2017. We could have a long way down to go yet.

[1Referee]

Either way, as someone who observed the last major bear market (2014 on), it's best to maintain reserved expectations about price performance after a run-up like 2017. We could have a long way down to go yet.

Exactly.

The year after a bull run has always proven to be a bad one, and it makes sense considering how much coins are being pumped back into circulation.

The first sellers are those securing profits. Then you have to deal with the first load of disappointed get rick quick noobs dumping at a loss. Then you have to deal with another load of bagholders believing in a recovery or a second bull run, and these people usually have a significant amount of patience which will make sure the bear market can take over a year at worst. In other words, more supply than actual on-exchange demand.

Those responsible for initiating these bull runs know how things work and won't iniate another one with the aforementioned in mind.

[Slow death]

Though prudent, Goldman Sachs' bearish opinion isn't shared by the company's fellow WallStreet compatriots. Last week, Intercontinental Exchange (ICE), the globe's top stock exchange, disclosed its showy plan to launch a new company whose primary mission is to set Bitcoin up as a mainstream financial asset - perhaps, in CEO Jeffrey Sprecher's own words, the "first worldwide currency."

there are many different opinions, but it seems to me that this difference of opinions is because some people just do not like bitcoin. So instead of people commenting technical aspects of the market bitcoin, they get carried away by the emotion and make comments that show that the intention of the person was only to express that it does not like bitcoin, they make indirect and very discreet comments. when he says:

“Importantly, we continue to believe that such declines will not negatively impact the performance of broader financial assets because cryptocurrencies represent just 0.3% of world GDP as of mid-2018,” the analysts said. “In fact, we believe that they garner far more traditional media and social media attention than is warranted.” 

bitcoin has a few years since its creation and has already achieved very great feats and it seems he forget about this

[Voknap]

More and more often news of this kind is flickering. I think that preparations are being made for the next pumping as it was in 2017, but now it's more cautious and less catastrophic. Definitely 2019, it will be very interesting to ride carefully on the slides)

https://destream.io/?referralId=8a66f376c6064d4b8db77515e5daa24d

[Angel Di]

These guys are all over the place, one day I hear about how bullish they are on the crypto market and another day it's news like this.

Guys, this level really has leverage in the financial markets. So distractions are a part of their work. They are best at doing this, people just need to learn to read between the lines.