"In the short term, Bitcoin is expected to rise to $ 13,971" cryptocurrency forecast from Goldman Sachs


Goldman Sachs Investment Bank sent a letter to its clients stating that in the short term, Bitcoin is expected to rise to $ 13,971.

Most Wall Street representatives mostly criticize Bitcoin, but Goldman Sachs has its own point of view on this. Three Arrows Capital CEO Su Zhu shared this information on Twitter.

The letter that was sent to the bank's customers said that in the short term Goldman Sachs expects to see the growth of the first cryptocurrency to $ 13,971. The name of the analyst who prepared this forecast is not indicated.

The analyst uses the Elliott wave theory, according to which, in his opinion, bitcoin will rebound from the level of $ 11,094 in the near future. After that, there will be an opportunity for “another breakthrough to $ 12,916 and $ 13,971”.

If the price rolls back from the indicated levels, this will be a good opportunity to buy cryptocurrency, provided that the bitcoin exchange rate does not fall below $ 9,084. It is better to set short-term stop orders for long positions at around $ 10,791.

“What were you most surprised at? Does Goldman Sachs set a bullish target for Bitcoin? Or what do they even have? Or that they use the Elliott Wave Theory? ”Writes Suu Ju. “Personally, I am most surprised that they can’t get confused and take a graph that displays course fluctuations over the weekend.”

Earlier, Goldman Sachs CEO David Solomon (David Solomon) hinted that he does not exclude the possibility that the investment bank may launch its own digital currency. To the French edition of Les Echos, he said that his company is conducting "extensive research" in the field of asset tokenization.
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