The clients of Goldman Sachs received a letter in which the Bank’s analysts warned that bitcoin price could soon fall below $ 6,000.
A team of technical analysts the Bank is headed by Sheba Jafari (Jafari Sheba), who believes that the market decline began with the big sales of bitcoins previously owned by the cryptocurrency exchange MtGox.
As it became known, the head of the Board of Trustees of the exchange Nobuaki Kobayashi (Nobuaki Kobayashi) organized several rounds of sales of bitcoins to pay off the creditors of MtGox.
The most serious decline in rate this year was marked on 6 February, when bitcoin price fell to the level of 5922 dollar. The day before, Kobayashi has sold another large batch (6000 BTC).
«In order to stabilize bitcoin have to go back and consolidate above the level of 9322 dollar,» — said Jafari. However, while bitcoin is not able to stay a long time above this level.
Jafari believes that the fall of bitcoin below $9210 can be a sign of new sales, which will cause the momentum of the price decline to the February lows.
The next important level is located at 7687 — 7198 dollars, whereas now bitcoin is already preparing to break down the $8000.
However, it is believed that Kobayashi will not be able to sell its remaining ~165 000 BTC to the following session on the case of MtGox, scheduled for September 18, 2018. If this information is confirmed, it will have a positive impact on the price of bitcoin.