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The Bitcoin price is below 12k: Goldman Sachs analyst recommends buying

the current situation in The Bitcoin market could be the start of a course of development similar to the Trend between December 2018 and June 2019. A Bitcoin pr

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The Bitcoin price is below 12k: Goldman Sachs analyst recommends buying

the current situation in The Bitcoin market could be the start of a course of development similar to the Trend between December 2018 and June 2019. A Bitcoin price below the 12,000-US-Dollar mark could be an opportunity to buy cheap BTC, says an analyst from Goldman Sachs.

By Christopher clover
13. August 2019BTC$11.401,00 -0.43%part Facebook Twitter LinkedIn xing mail

An expert from Goldman Sachs to keep the current Bitcoin market price for a good buying opportunity. The investor presentation that was leaked to the crypto-magazine Coindesk, the course. Therein, an analyst applies the Elliott wave theory for the estimation of the price development of various indices.

Based on the evaluation of the Goldman-Sachs-analyst Sheba Jafari is an important support level for the Bitcoin course in this week, the area around 11.094 US Dollar. As long as the price of Bitcoin is not moving in the direction of the brand of 10.791 US Dollar is still room for a Bitcoin rate between 12.916, and 13.971 US Dollar. The latter is marked for the Goldman Sachs-analyst the short-term price target.

In the longer perspective, this course could mark, according to Jafari, the beginning of a trend that has Similarities with the Patterns between December 2018 and June 2019.

However, this might be in the bigger scheme of things is still the first section of a 5-wave count, similar to the Trend that lasted from December 2018 to June 2019. In other words, it should be considered a withdrawal of 12.916 up 13.971 US Dollar as an opportunity to buy weakness as long as it falls below the Low of 9.084 US dollars.

The Elliott wave theory is based on the view that increase in a two-stage course is always a three-stage correction.

Goldman Sachs and Bitcoin

The investment giant has already more than a foot in the door to the crypto sector. Rumors that Goldman Sachs would like to raise a Bitcoin Trading Desk from the baptism, were denied; however, you can of the investment company no Bitcoin apathy under. So Goldman Sachs was the first major Bank to put a major investment in a Bitcoin company.

in 2015, Goldman Sachs led a $ 50 million dollar investment round for the P2P payment processor Circle. In a report from the same year, Goldman Sachs Bitcoin and crypto-denominated currencies as a part of a technological "Megatrends". These have the potential to change the global Payment sector fundamentally.

in 2018, currencies accepted, with David Salomon, a Crypto more receptive to investment bankers, the management of the company. Compared to the news Agency Bloomberg Solomon confirmed that the customer was given an interest in Bitcoin Futures quite.

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