Goldman Sachs is making a killing
Goldman Sachs Bitcoin prediction
On June 19th, Goldman Sachs head of technical strategist Sheba Jafari sent out out a note to banks clients about Bitcoin. The strategy worked out perfectly, bitcoin corrected to the penny they predicted then it shoot up higher.
According to Jafari, Bitcoin long term chart starting from 2013 is five impulsive waves. The previous high at 2,985 was the end of wave three. After that, Jafari predicted that Bitcoin price will drop, but no lower than $1,875 then it should start going higher. The correction prediction vas correct down to the penny. Jafari prediction was that Bitcoin Targets are at least 216.8% fibonacci extension at $3,134.44 and can go as high as $3,691.
Source: Goldman Sachs
Now, Bitcoin not only fulfilled their prophecy, but also it managed to surpass their wildest expectation. Bitcoin passed 261.8% fibonacci extension like hot knife through butter. Next fibonacci extension is at around $4,330. Judging the speed bitcoin is going up, it is not far fetched that it can be hit within the next few days.
If their prediction proves to be correct, we might be due for a correction.
Sources:
http://www.businessinsider.com/bitcoin-price-goldman-sachs-test-3000-maybe-3700-2017-7
http://www.businessinsider.com/bitcoin-price-goldman-sachs-2017-7
Please check my previous post:
https://steemit.com/cryptocurrency/@ctyptouniverse/goldman-sachs-bitcoin-could-get-as-high-as-usd3700
Follows and upvotes are appreciated :)
Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. This is not a financial advice. It should not be regarded as investment/trading advice.
As always, great post.
Thank you my friend.
Bitcoin & blockchain is the future , Banks have to adopt their strategy with that
i think that bitcoin will skyrocket again & again we have just to invest and hodl it
People who trade it, this might be the time to sell and register profits. If you consider yourself long term investor, just keep it, don't trade. Even if we see a correction, after that price will shoot up even higher.
nice post
Thank you my friend.
yes very good predictions, even though it did go a little bit lower than $1,875 ;)
I guess we will surpass the $4k easily before the correction though. Maybe 5k? Time for the altcoins to catch up now i would say.
Especially Ethereum, I think time to catch up. When we compare this year, Ethereum started first and it went to high. Makes sense that is falling behind, but should be temporary. Just a small catal will push it even higher.
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