Goldman Sachs Warns Investors of another Bitcoin Price Fall
Business Insider reported on March 12 that the Goldman Sachs’ technical analysis team led by Sheba Jafari sent a note to clients on Sunday, warning that the next BTC liquidation was threatening to dive below the February low of $5,922. Jafari’s team suggested that the next liquidation would be caused by the break of short-term support at $9,210.
“The breakup is significant because it implies a potential for more impulsive decline,” Jafari stated. Her team warned investors to keep an eye on the price of the BTC, predicting that “the next significant level is down from $7,667 to $7,198”.
“Getting а сlоѕе brеаk thіѕ tіmе аrоund wоuld wаrn оf ѕtruсturаl dаmаgе, іnсrеаѕіng thе rіѕk оf nеw lосаl lоwѕ (<5,922). At thіѕ роіnt, nееd tо gеt bасk thrоugh 9,322 (thе Fеb. 26th lоw) fоr thіѕ tо ѕtаbіlіzе,” Jafari’s team wrote.
However, the head of technical strategy at Goldman Sachs, Sheba Jafari, has been known for criticizing Bitcoin. In July 2017, Jafari suggested that Bitcoin would hit the $4,000 mark by the end of the year. Later, in November 2017, when BTC reached $7,000, Jafari made another prediction that Bitcoin would consolidate to $8,000 before increasing.
Bitcoin’s price climbed to $20,000 in December 2017, from a modest $1,000 at the start of the year before falling to $ 6,048 on February 6, 2018. Some analysts have cited the recent sale of the Mt. Gox bitcoin to repay creditors as an attribute to the BTC price decline.
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