In a recent report Goldman Sachs predicted bitcoin to hit the Wave V; however, before a rapid growth ahead this year, bitcoin could backflip to about $1850.
There seems to be a lot of criticism that Goldman got over this analysis. But I see it to be true.
The second half of June and the current situation for bitcoin seems to indicate that Goldman's prediction are becoming reality. Some critics say they are controlling the bitcoin market. Maybe, but I dont think so.
Goldman has always been right predicting the market, be it traditional or crypto. I personally feel bitcoin to dip to $1900 and then recover twice to reach $4000.
Lets look at Goldman's predictions for the traditional market when Trump Administration took over. Here's what they had to say:
- "Expected returns: Only slightly higher."
- "US fiscal policy: A pro-growth agenda."
- "US trade policy: Concerns are likely overdone."
- "EM risk: 'Trump tantrum' is temporary."
- "Trump and trade: Hedge with RMB."
- "Monetary policy: Focusing the toolkit on credit creation."
- "Corporate revenue growth recession: Signs of inflection."
- "Inflation: Moving higher across DM."
- "The next credit cycle: Kinder and gentler."
- "The 'Yellen Call' 2.0: Now with contingent knock-in."
Read source story for the above 10 points here:
http://www.cnbc.com/2016/11/17/10-goldman-sachs-market-predictions-for-2017.html
We are almost 7 months into 2017 and so far all of the Goldman's predictions seem to be turning out true. Why will bitcoin prediction not when the current trends indicate a major dip? I will take it as a buy opportunity as bitcoin falls, there is no need to panic.
Warren Buffett once said that as an investor it is wise to be “Fearful when others are greedy and greedy when others are fearful.”
I personally feel, instead of criticising what Goldman has to say, lets take this as an opportunity.
Source article on Goldman's prediction here:
http://www.cnbc.com/2017/07/03/goldman-sachs-says-bitcoin-could-rise-another-50-percent.html