• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Goldman Sachs
Nexo

Goldman Sachs Warns Of Bitcoin Going Under $6000

Wilma Woo by Wilma Woo
4 years ago
in News, Bitcoin, Bitcoin Price, News teaser
1

Goldman Sachs analysts panicked Sunday, March 12 as Bitcoin’s volatility caused them to forecast a return to recent lows below $6000.


Goldman Fears ‘Impulsive Decline’

In a note to clients, the global giant’s technical analysis team led by Sheba Jafari pointed the blame at market uncertainty thought to have begun from Mt. Gox trustee Nobuaki Kobayashi’s recent sell-offs.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Having broken below $9210 Sunday, ultimately reaching closer to $8400, Bitcoin faced a potential freefall to $5922, the team claimed, with little support in between.

“The break is significant as implies potential for a more impulsive decline,” Jafari wrote quoted by Business Insider.

The next meaningful level is down at 7,687-7,198; includes the 200-dma and a 1.618 target off the high.

Bitcoin's Recent Rollercoaster Ride and Its Price Direction for March 2018

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

As Bitcoinist previously reported, Kobayashi had staged several mass Bitcoin cash-outs since December in order to pay of Mt. Gox creditors, with each bulk liquidation causing a knock-on effect for Bitcoin prices.

BTC/USD fell dramatically February 6, also hitting the $5922 Goldman refers to, just a day after Kobayashi sold 18,000 BTC.

“At this point, need to get back through 9,322 (the Feb. 26th low) for this to stabilize,” Jafari added, something which prices have so far failed to achieve since Sunday.

No More Selling?

Meanwhile, social media commentators are speculating as to Kobayashi’s next move. While not all the Mt. Gox funds have sold for USD, confusion reigns as to whether further sell-offs will occur this year, or whether creditors will receive further payouts in BTC.

Mt. Gox Where is Our Money

Kobayashi himself has also come in for criticism from cryptocurrency sources, the pattern of sales suggesting, they say, that he and other Mt. Gox officials “panicked and sold the bottom.”

At press time, Bitcoin was trading around $9260, remaining in the crucial zone to pacify Goldman but still far from the highs seen just weeks ago when prices approached $12,000 following the $5922 dip.

What do you think about Goldman Sachs’ price forecast? Let us know in the comments below!


Images courtesy of Twitter, Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Wilma Woo

Wilma Woo

Related Posts

Sam Bankman-Fried: Bitcoin Isn’t A Viable Payment Network

Sam Bankman-Fried: Bitcoin Isn’t A Viable Payment Network

4 hours ago
US Justice

US Justice Department Executes First Criminal Crypto Charge

4 hours ago
Terra

Terra Flaw: Ethereum Creator And Binance CEO Slam Terra Via Twitter

7 hours ago
Texas, a huge boot in front of a store

Bitcoin & Energy Merge In Texas: 3 Giant Companies Announce New Mining Facility

17 hours ago
El salvador

44 Countries Set To Meet El Salvador To Discuss Bitcoin, Here’s What We Know

24 hours ago
Crypto Corner: The Sports Slice

Crypto Corner: The Sports Slice

1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.