Goldman Sachs’ technical analysis team has just made another Bitcoin prediction, saying that the major cryptocurrency risks sinking below the February low. On Sunday, the team sent a note to the clients warning that the next BTC sell-off threatens dipping below the February low of $5,922.
“The break is significant as implies [sic] potential for a more impulsive decline,” Sheba Jafari stated. Her team warned investors to keep an eye on BTC price, predicting that, “The next meaningful level is down at $7,667 to $7,198.”
Jafari, the head of technical strategy at Goldman Sachs, is well known for criticizing Bitcoin. In July 2017, Jafari suggested that Bitcoin would hit the $4,000 mark by the end of the year.
Later in November 2017, when BTC reached $7,000, Jafari made another prediction stating that Bitcoin would consolidate at $8,000 before going higher.Buy Bitcoin now