Bitcoin correction expected at $ 4800? Do you have to sell?

For Sheba Jafari, chief strategist at Goldman Sachs, Bitcoin's price may prolong its real rise above $ 4,800 per unit, according to projections made according to a model predicted to exceed $ 3,600 and that the main cryptononeda Surpass beliefs

In a note that the US bank sent to customers over the weekend, and had not given a public opinion but was disseminated by various financial means, detailed that the price of Bitcoin could specifically reach a level of $ 4,827, Around Of $ 500 above its real level, then collapsed to $ 2,221, according to the projection managed by the entity.

Price goldman sachs btc
Goldman Sachs' predictive model sent its clients on Sunday with projections on the price of Bitcoin
At the opening of this Thursday, Bitcoin is quoted at 4,441.03 after accumulating an expansion of 7.56% in the last hours resuming the trend that has characterized it after the symbolic barrier of the four thousand dollars last week, according to records of Coinmarketcap. Its market value stands at 73.32 billion dollars, with a market dominance of more than 50% compared to a universe of cryptoactives currently valued at more than 144,000 million dollars.

Goldman Sachs has kept a constant follow-up of the evolution of Bitcoin, recommending to investors that they do not ignore the events related to the market of criptomonedas due to the volume of capital that involves its development.

For real projection, Jafari would be employing a theory of technical analysis known as the "five wave" or "Elliott wave" model that he used to anticipate peaks and price declines of various asset classes projected as "waves" By Stages, which would be susceptible to anticipate to some extent.

Other analysts believe that following the implementation of SegWit, the protocol for the best scalability of transactions in Bitcoin red, the price of the main crypto will achieve in excess of $ 5,000. At this point it should be noted that there are no scientifically accurate ways of predicting the behavior of the price of an asset, either exchangeable or electronic or fiduciary money, by the number of factors involved in price formation. Partitioning of the available information, for the making of decisions of purchase or sale until the surgery of technological events, is unpredictable an exact calculation associated with the exchange platforms, for example.

In the sustained rebound that Bitco currently, marking several unprecedented records, it is considered that the optimism of the community regarding the overcoming of the August 1 challenge of an important signal of confidence, given that at that time had been raised A fork of the network. The increasing adoption and levels of investment in this area by institutional entities are another factor that strengthens investor confidence in the market.

In the hypothetical case of testing the predictive model of Goldman Sachs describes in its report, the drop of approximately 50% in the price of Bitcoin could become an opportunity of entry for new investors. There are, however, still some pockets of resistance in different sectors, including Latin American banking, characterized by mistrust and suspicion before the emergence of cryptoactive.

Source: https://criptonoticias.com/mercados/analista-de-goldman-sachs-pronostica-que-bitcoin-va-rumbo-a-4-800/#axzz4q37YUzn9