GOLDMAN SACHS: Bitcoin is going to test $3,000 and could get as high as $3,700

  • Bitcoin has held strong support and has its sights set on a test of the $3,000 level, according to Goldman Sachs.
  • The $1,856 to $1,790 area “has the potential to act as strong support,” Jafari wrote.
  • Jafari’s latest note comes two weeks after she predicted the cryptocurrency was setting up for a big drop.
  • Bitcoin has gained more than 20% from its July 17 low, and currently trades near $2,285.
  • As to how far bitcoin can go from here, Jafari expects another run at record highs.

Bitcoin has held strong support and has its sights set on a test of the $3,000 level, according…
Continue reading “GOLDMAN SACHS: Bitcoin is going to test $3,000 and could get as high as $3,700”

Bitcoin Price Forecast – Consolidation To Continue

#bitcoin Price Forecast  Consolidation To Continue #ethereum #blockchain #invest #cash

  • Bitcoin prices, for a change, had to be content with being out of the limelight over the last few days as the prices consolidated and ranged and continued to be under some pressure from the dollar which helped to maintain the prices under a tight leash.
  • The prices are still in an uptrend in the medium and long term and this is confirmed by the fact that any correction in the prices has been met with some strong bounce over the last few days.
  • This is likely to continue in the short term and with the other instruments also undergoing some large volatility, it might be the right time for the bitcoin traders to take some rest and wait for the prices to show its hand.
  • Technically, we expect the bitcoin prices to continue to range and consolidate in the short term between $2200 and $2800.
  • Traders would be well advised to wait for a break in this range to set up positions for the long term while the range traders could take trades on the fringes of the range.

Bitcoin prices, for a change, had to be content with being out of the limelight over the last few days as the prices consolidated and ranged and continued to be under some pressure from the dollar which helped to maintain the prices under a tight leash. After all the volatility that we had witnessed
Continue reading “Bitcoin Price Forecast – Consolidation To Continue”