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Goldman Sachs: Bitcoin could fall below $ 6,000


Goldman Sachs customers received a letter in which analysts of the bank warned that the price of Bitcoin could soon fall below 6000 dollars. The team of technical analysts of the bank is headed by Sheba Jafari, who is sure that the market decline began with the large sales of Bitcoins, which previously belonged to the MtGox crypto exchange. As it became known, the head of the board of trustees of the exchange Nobuaki Kobayashi organized several rounds Bitcoin sales to pay off creditors MtGox.

The most serious drop in the rate this year was observed on February 6, when the price of Bitcoin fell to a mark of $ 5,922. The day before, Kobayashi sold another large batch (6000 BTC).

"The break is significant as implies potential for a more impulsive decline," Jafari said. 

However, while Bitcoin is not able to stay above this level for a long time.

Jafari believes that the fall of Bitcoin below $ 9210 may be a sign of a new sell-off, which will trigger a momentum of price decline to the February lows.

The next significant level is at the mark of 7687 - 7198 dollars, while now Bitcoin is already preparing to break down $ 8000.

However, it is believed that Kobayashi will not be able to sell the remaining ~ 165,000 BTC to the next MtGox meeting scheduled for September 18, 2018. If this information will be confirmed, this will have a favorable effect on the price of Bitcoin.

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