Goldman Sachs: Bitcoin will never come back? You do not believe

[msnacy]

Business Insider reports Goldman Sachs midterm economic outlook says Bitcoin prices are likely to fall further, after dropping 45 percent in the first seven months of 2018.

"We still maintain our view that digital currencies will not hold their value today, and in fact virtual currencies have fallen faster than we have forecast," said Goldman. Sachs led by investment director Sharmin Mossavar-Rahamani.

What if it was the truth?

[NeuroticFish]

Business Insider reports Goldman Sachs midterm economic outlook says Bitcoin prices are likely to fall further, after dropping 45 percent in the first seven months of 2018.

"We still maintain our view that digital currencies will not hold their value today, and in fact virtual currencies have fallen faster than we have forecast," said Goldman. Sachs led by investment director Sharmin Mossavar-Rahamani.

What if it was the truth?

1. Goldman Sachs is one of the banks that made the 2008 crisis happen. And recently they also had to admit the frauds they have done during those years. Would you really believe anything those fraudsters are telling?

2. My math tells that Bitcoin should rise overall, sooner or later. I don't say I hold the ultimate truth, but since it's one of the goods with finite supply and increasing demand.. it *should* rise. And if it falls, it may be temporary. (Of course, you should do your own thinking in this, especially if you want to buy or sell).

[BuyBuyBitcoin]

It isnt a secret that bitcoin is expected to go down still this year. A lot of traders that follow the price have predicted for months that it still hasn't hit bottom.

Goldman doesn't have some insider information unless it's about robbing taxpayers to cover their gambling and cheating.

https://www.huffingtonpost.ca/entry/goldman-sachs-aig-backdoor-bailout_n_814589

[Dean Collins]

Let's believe absolutely all assumptions about cryptocurrency?

[kryptqnick]

Business Insider reports Goldman Sachs midterm economic outlook says Bitcoin prices are likely to fall further, after dropping 45 percent in the first seven months of 2018.

"We still maintain our view that digital currencies will not hold their value today, and in fact virtual currencies have fallen faster than we have forecast," said Goldman. Sachs led by investment director Sharmin Mossavar-Rahamani.

What if it was the truth?

As Neurotic Fish pointed out, Goldman Sachs is not to be trusted, since it took part in money laundering. I would say financial institutions as such are not to be trusted these days after they laundered more than the total crypto market capitalization and dare to say that it's cryptos that are not preventing fraud (since I know it sounds unbelievable, here's a link: https://www.forbes.com/sites/francescoppola/2018/09/30/the-banks-that-helped-danske-bank-estonia-launder-russian-money/#797136473197). Goldman Sachs is saying bad stuff about cryptos and then some news about them investing into a crypto startup, Novogratz hires a Goldman executive. Some say they are trying to spread FUD to buy low, and it doesn't look ungrounded.

[Marshall14]

His views remain his views,and in my opinion it actually doesn't hold water per say, and should affect anyone who wishes to invest in the bitcoin..

Bitcoin has risen from as little as nothing to this stage,i really do not see any reason why it wouldn't rise any further..

His views and predictions are incorrect TBH

[SUDARMONO]

maybe everyone has their own views about the future of bitcoin, but I still believe and are optimistic that the price of bitcoin will be able to travel even higher and at a better price.

[YuginKadoya]

Even a well-known Investment bank could sure mislead you in what you believe in and entirely because this is cryptocurrency they surely are against it, But well in spite that they had some issues of their own because in 2010 fraud suit issue by SEC against Goldman Sachs regarding the misleading of investors with was called Abacus 2007-AC1, and later lead that the SEC's case was weak but again there are still many indications and issues that it might be manipulative, I don't know but after knowing something about it is hard for me to believe any claims of Goldman Sachs regarding cryptocurrency.

[Herbert2020]

these days everyone who has been trading bitcoin is getting anxious and most of them are getting desperate because their money is locked in orders that are never being filled because of bitcion's stability. so they end up trying to FUD bitcoin into some action.
the Goldman Sachs case here is a good case of that FUD of some idiot trying desperately to get his orders which they placed at about 5-10% below market value, filled. don't read too much into these things!

[burky156]

Goldman Sachs Group is an multinational investment bank and financial services and i believe that they are not having good relationship with the bitcoin and the cryptocurrency. Otherwise they would never give such statament like this one. I think they try to brake the people trust on the bitcoin.. The banks usually don't like our market, i am sure that they are afraid to fight with it yet...

[Pursuer]

Business Insider reports Goldman Sachs midterm economic outlook says Bitcoin prices are likely to fall further, after dropping 45 percent in the first seven months of 2018.

"We still maintain our view that digital currencies will not hold their value today, and in fact virtual currencies have fallen faster than we have forecast," said Goldman. Sachs led by investment director Sharmin Mossavar-Rahamani.

What if it was the truth?

As Neurotic Fish pointed out, Goldman Sachs is not to be trusted, since it took part in money laundering. I would say financial institutions as such are not to be trusted these days after they laundered more than the total crypto market capitalization and dare to say that it's cryptos that are not preventing fraud (since I know it sounds unbelievable, here's a link: https://www.forbes.com/sites/francescoppola/2018/09/30/the-banks-that-helped-danske-bank-estonia-launder-russian-money/#797136473197). Goldman Sachs is saying bad stuff about cryptos and then some news about them investing into a crypto startup, Novogratz hires a Goldman executive. Some say they are trying to spread FUD to buy low, and it doesn't look ungrounded.

this is not just about Goldman Sachs and it is not about their fraudulent activities. they might have been the most honest group in the world and still their speculation would have been the same.
the thing is, whenever you read some speculation like this which is mostly nonsense, you have to think about why they are bothering with releasing something like this. the answer is that all those who ever speculate about bitcoin like this want to make profit from their speculation! in this case they want to buy bitcoin cheap. not so long ago in 2017 they were publishing the exact opposite of current speculation and were talking about how great bitcoin is and how it will be worth A LOT more than what it was worth back then in the long run! why? because back then they were trying to sell their bitcoins at a higher price.

[Kakmakr]

The market will decide, not Goldman Sachs.  

If the technology is useful and if it serve a purpose, then people will buy the coins and the market will decide if this is going to succeed or if it will fail, no matter how much FUD are conjured up by Goldman Sachs. Their strategy is to comment negatively on this technology, in the hope that it would negatively impact the perception of the public.

We just need to make Bitcoin useful and adoption will increase and subsequently the price will increase.  

[batang_bitcoin]

maybe everyone has their own views about the future of bitcoin, but I still believe and are optimistic that the price of bitcoin will be able to travel even higher and at a better price.

Yes we do and before Goldman Sachs is one of the very bullish people on bitcoin but now he's changing his views regarding it.

This type of views are very popular now due to them having their own interest to bitcoin. I'm not sure if they are telling this just to drive the price down since last year there are some predictors who have been doing this and on the latter part it will be reported that they bought during the dip.

[rickyNmorty]

maybe everyone has their own views about the future of bitcoin, but I still believe and are optimistic that the price of bitcoin will be able to travel even higher and at a better price.

This is true. Everyone has different perspective in which we see what we can ses and do mnot see what theothers can see. It is like seeing the potential of bitcoin, potential of growing and staying for good. And the others only see how it falls today. We need to stay in shape.

[coinwizard_]

Why would anyone believe a company who focuses on helping the enemy to profit i.e. making banks richers? Stick with bitcoin, history shows it will always go up

[LastHope99]

Information for the masses is nonsense. News has nothing to do with the real situation and price movement. The problem is that now almost everyone understands it, so new manipulation methods must be found, and we must be very attentive not to fall in the new traps.

[bellamente]

Behind the scenes of Wall Street, many say that now bitcoin is being purchased by large funds. Bitcoin purchases take place outside cryptocurrency exchanges, so the rate of Bitcoin does not grow 

[talkbitcoin]

the day that i start listening to what others on the internet tell me is the day i give up trying to invest in anything at all. specially if the source is Goldman Sachs!
when it comes to bitcoin everyone knows that manipulation is a thing so they try their hands at it.

[dothebeats]

These are regular bankers who want nothing but their assets leveraged and get the maximum amount of attention for profit, why would I believe in them? They had been telling the same old, recycled scare-mongering shit about bitcoin ever since the ATH of 2013 blew-off. They were right for a short amount of time, only for bitcoin to go accelerating in 2016 and 2017. As usual, the first year after the ATH blew off, we will experience such cases of stagnant prices and lack of bullish movement since everyone has had their pockets full and are getting that money somewhere else. It's an obvious scenario, and I don't think that Goldman Sachs is a prophet by saying that there wouldn't be any recovery in the short-term future.

[snipie]

What if it was the truth?

Goldman Sachs predicted bitcoin will rise to more than $19,000? No! No one predicted that or could imagine bitcoin will be that high in adoption and price before 2011. Same thing can happens again and again