China Bitcoin News

Goldman Sachs Buoyant As It Sets Bitcoin Price Target Of $13,971

Goldman Sachs sends a message

Goldman In a recent message to customers gave a zealous prediction for Bitcoin price. It shared the note on its Twitter page on Sunday where $13,971 was forecasted as the short-term target.

Analysts predict Bitcoin will rebound from support around $11,094, which will give it enough leeway to jump to prices in the region of $12,916 and $13,971.

Bitcoin Price according to Coindesk

Bitroin Value Graph

Goldman Sachs Bases Its Forecast On Elliott Waves

Goldman Sachs based its forecast on the Elliott Wave Theory. The theory projects market trends by locating absolute extremes in the way investors act, in combination with price movements.

In recent times, Goldman Sachs has become more interested in Bitcoin and the general cryptocurrency market. In the past couple of months, it has made concrete plans to launch its own coin, and there are even talks that it would be launched sooner rather than later.

 

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