Bitcoin Analyst Recommends Now As The Time To Buy Bitcoin, How High Will Bitcoin Go?

Bitcoin News Today – Bitcoin hit the news again when it climbed to $11,500, thereby hitting an all-time weekly high for this year. Though the BTC didn’t maintain that drive and dipped slightly, it remains in the above $11,000 range. This has made the BTCan attractive asset for investors.

Bitcoin news today learned that Goldman Sachs has given a Bitcoin price prediction stating the short term target for the cryptocurrency coin was $13,971. He believed that the time was ripe to invest in the Bitcoin. Goldman suggested that investors should see the present dip in price as an opportunity to invest in the cryptocurrency coin, as the BTC was set to rise.

Bitcoin News Today – Bitcoin Price Analysis – Bitcoin Latest Update – Best Time To Buy Bitcoin

After the research done by the investment bank, Goldman Sachs stated that one of the support levels for the BTC was $11,094. The BTC would move higher and target $12,916 before reaching the short term target of $13,971. The investment bank noted that any retracement done between $12,916 and $13,971 should be seen as an opportunity to buy the Bitcoin. As long as the retracement doesn’t drop below the $9,084 low, there was an opportunity for buying.

Though the BTC price prediction stated by Goldman Sachs favors a bullish trend for the BTC, the CEO of the investment bank was once quoted as saying that he didn’t own any Bitcoin and had no intention of buying into the cryptocurrency market. Recent news gotten by Bitcoin news today indicates that Goldman Sachs may be thinking on delving into the cryptocurrency industry but have decided to wait and see how the regulatory scene finalizes in the US.

The cryptocurrency market has been volatile of recent and analysts and researchers believe that the volatile market could impact the BTC either negatively or positively. History shows that the BTC has always been volatile and so there are conflicting pattern showing bullish and bearish trends. Some cryptocurrency analysts believe that there will be a breakdown of the market price, affecting the BTC.

Bitcoin News Today – Bitcoin Latest Update – Bitcoin (BTC) Appears To Be Aiming Higher

The cryptocurrency industry and Bitcoin have been under attack by governments and financial institutions over the last couple of months. The crypto market seemed to have been affected by the negative utterances and stand made against the cryptocurrency industry. This has led to analysts predicting a fall in the whole crypto market. Such prophets of doom were almost proved correct as the crypto market faced some choppy waters. Fortunately, the market picked up with the number one cryptocurrency still leading the cryptocurrencies. The Bitcoin BTC rose to a weekly high of $12,500, showing that the cryptocurrency industry was not dependent on the whims of the government.

Bitcoin (BTC) Price Today – BTC / USD

#NamePrice24H %
1
bitcoin
Bitcoin(BTC)
$7,133.17
-1.44%

The present price value of the BTC is $11,390 with a Relative Strength Index of 50 showing the coin as oversold. The volume rose steadily during the price buildup to $12,000 and it is now on a decline. This shows a weak bearish trend but with a pickup of the volume level, the bullish trend will continue and produce a rise of the BTC to the next support level.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.