Goldman Sachs warns: Another sharp drop in Bitcoin may come

Bitcoin bulls are yet to come out of the jungle, according to Goldman Sachs’ technical analysis team led by Sheba Jafari.

In a note sent to customers on Sunday, Jafari and his team said that more sell-out warnings in Bitcoin are on the horizon, at $9210.’ Jafari stated that if Bitcoin price falls to the $7000-7500 range, technical analysis shows that it may fall below $6000 after a while.

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If Bitcoin experiences such a drop, as Goldman Sachs’ Jafari put it, that means it will fall by about 35 percent from the current price.

The team said that Ripple as the majority of cryptocurrencies tend to move together. He also noted that buying cryptocurrencies like Ethereum, Bitcoin Cash and Litecoin can be very risky right now.

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