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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.

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Later in November 2017, when BTC reached $7,000, Jafari made another prediction stating that Bitcoin would consolidate at $8,000 before going higher.

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NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future

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