Goldman Sachs has been on-point predicting Bitcoin’s price. Yet again they got it right. Bitcoin went to $7,900 for a moment today Nov. 8, 2017 like Goldman projected. Nice! Now we want to know, can Bitcoin beat Goldman’s prediction… or is a correction coming?
UPDATE: It looks like the Segwit2x fork is called off. This is likely what caused the wild price swings today. This is actually good for Bitcoin in many ways, as the fork was very controversial.
UPDATE: This was followed by a flash crash. The problem, like in the summer, is that when the price moves up too fast it takes everyone out of the market (as their orders fill). This leaves less people setting prices and causes instability. Yep, we could be heading for $5,000… but don’t dismiss the idea that we could see another rally before the fork. Crazy times yet again!
Who knows? Not me. That is why I try to stay tuned into predictions of pros like the analysts and Goldman Sachs. If we go on their word, then we can expect $8k or so to be the high until the fork. Remember, being in for the fork has a lot of risks and rewards at any price.
At this point I don’t want to call a price or a best move. Just want everyone to be aware that:
- Goldman got it right again.
- This price is noted by many to be the expected high.
- The Segwit2x fork is coming up around Nov. 16, and there is a lot of risk and reward.
- On a less manic note, the low (if there is a post fork crash) has been called at “no less than $5k” by an other analyst recently.
So do you buy more at $7,900 before the fork, do you set some limits for $5,000, do you buy alts and pray for a post fork boom, or do you do a little of all three? That is your call. Do your own research, make your own choices, and use the basics above as a springboard.
Good luck! And… yay Bitcoin!