Goldman Sachs analysts suggests that now is a good time to buy Bitcoin

Goldman Sachs market information suggests that investors should capitalize on the current price drop and buy bitcoins.

In a series of slides prepared by a technical analysis team and sent to some institutional clients, Goldman included one that says the short-term target for bitcoin (BTC) is $ 13,971 and that investors should consider buying any drop in the Current scenario

The investment bank said that, according to its Elliott Wave analysis, BTC would find support around $ 11,094, and that there is room for a higher move at $ 12,916, then $ 13,971.

“Any setback of $ 12,916 or $ 13,971 should be seen as an opportunity to buy in weakness, as long as it does not go back beyond the low of $ 9,084,” says the information on the slide.

It should be noted that the prices used for the analysis do not include weekend prices and probably come from futures market data.

While this technical analysis seems optimistic about bitcoin, the CEO and president of Goldman Sachs has previously said that bitcoin is simply not his thing. Lloyd Blankfein said in an interview last June that Bitcoin “is not for me, I do not.” I don’t own bitcoin. “

According to reports, rumors that Goldman would launch a cryptocurrency trading table and a custody service have been suspended over the uncertain regulatory scene in the US. UU.

The owners of the traditional financial industry see how cryptocurrencies occupy spaces to meet the needs of users, trade relations between economic powers are compromised, coupled with other events that are glimpsed as the displacement of the dollar as a reference in the purchase of oil In the Schanghai stock exchange in China, it could represent a value for blockchain-bitcoin technology. It is expected by new announcements.

Reference: coindesk.com

Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.

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