All to the bottom, Goldman Sachs said in a long fall in Bitcoin to the end of the year
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Now almost all the players of the stock market held its breath until the arrival of major institutional investors, industry to new heights. But Goldman Sachs analysts in this outcome do not believe. The group of experts of the investment Bank said it will continue to fall until the end of 2018. About it writes .
How to predict the price of Bitcoin
Recall, back in may of this year, investment Bank, announced trading in futures on Bitcoin. It seems that now the opinion of management of the organization has changed. Head of the investment Department of Goldman Sachs Charmin Mossavar-Rahmani noted that the crypt will have a bad ending.
Our point of view about the futility of cryptocurrencies remains in force. Moreover, Bitcoin began to lose its value sooner than we expected.
Mossavar-Rahman also does not recognize Bitcoin currency.
We believe that the downward trend of the price of cryptocurrencies will continue in the future. All due to the fact that it does not meet a criterion of traditional currencies. Bitcoin is not a medium of exchange, payment or savings.
The research Report also States that the problems of the stock market will not affect the global financial system. At the moment the crypt is only 0.3 percent of world GDP.
The Abrupt change of the views of the representatives of Goldman Sachs many seemed very odd. Some have even considered such «terrible» forecasts deliberate strategy by the drain of the Bitcoin prices. We will remind, earlier other experts of the investment Bank is not just about the great potential of cryptocurrencies.
This — and the different approaches being followed by other parts of Goldman — is a great reminder of the way that different parts of the company form different hypotheses about the markets they operate in. It's not a monolithic entity with one opinion.
— Nathaniel Popper (@nathanielpopper)
Journalist for the New York Times Nathaniel Popper also noted differences within the company. In his view, Goldman Sachs is a too complicated structure, and therefore thousands of its employees will not always stick to one point of view.
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