I put a quick off the cuff report together regarding recent statements from Goldman Sachs girl Sheba Jafari claiming "Bitcoin markets could rise as high as $3,900 in the future."
Jafari goes on to say,
"This means that it could remain sideways/overlapping for a little while longer. At this point, it’s important to look for either an ABC pattern or a more triangular ABCDE. The former would target somewhere close to 1,856; providing a much cleaner setup from which to consider getting back into the uptrend. The latter would hold within a 2,076/3,000 range for an extended period of time.”
Now considering Goldman Sachs' involvement in attempting to create a centrally planned cashless society, any involvement in the crypto world should make one suspicious.
Of course Bitcoin long term will run far higher than $4000 USD, but it appears to some that Goldman Sachs is trying to aid their prediction by speaking and then watching a buy-up which will quickly fulfil their forecast.
Every market can be manipulated by massive banks and governments simply by massive buy ups. With that said, it wouldn't make sense for any bank or government to attempt to crash Bitcoin this early on. It would make far more sense when the market cap is higher. Though as it is with gold and silver, as the economy crashes, so does the banking system and the chains will be cut allowing these wealth insurances to skyrocket. So long term we don't have anything to worry about. Besides, it's a little late to actually PUMP the cryptocurrency at the rate it's at today.
The point is, people are sick of the central banking system. They're flocking to Bitcoin and other alt-coins because they're losing faith in the fiat system which is a great way to forecast a major crash in the near future. People are sick of being manipulated.
While cryptos, especially the alt-coin market have seen some bloodbaths recently, this is simply a healthy correction. It shows a great natural cycle as these cryptos take a breather. While there are a lot of phoney banker coins out there, coins like Bitcoin, STEEM, Dash and even Ethereum have a good future in front of them. Golem is looking pretty good as well. Ethereum has some problems and Litecoin doesn't appear to have a cap according to their white paper which is pretty concerning long term, but in the end, we've got a real way to escape the system and it's going to revolutionize the world of trade and true free market capitalism.
