GOLDMAN REPORT ADVISES NOW IS THE TIME TO BUY BITCOIN, GOLD

Goldman Sachs Bullish On Bitcoin & Gold As Recession Signals Continue

GOLDMAN REPORT ADVISES NOW IS THE TIME TO BUY BITCOIN, GOLD

Recent analyst reports from Goldman Sachs suggests investors should take advantage of the current Bitcoin price dip and buy now.

In a series of slides prepared by one of Goldman’s technical analysis teams and distributed to clients, the bank included one that put the short-term target Bitcoin price at $13,971. They echo the sentiment shared by many that we are currently in a dip and that now is an idea time to buy.

Source: Goldman Sachs

According to the report, there is also the potential that this could be the first leg of a five wave count of price rises. This means that any decrease in Bitcoin price from the $12,916-$13,971 levels (where we’re currently at and have been for a few months) would be a smart buying opportunity.

This latest report from Goldman Sachs further adds to the sentiment that investors are once again eyeing the crypto industry. Last year, Fidelity Investments revealed they would be launching a digital assets division, and earlier this year JP Morgan analysts claimed that Bitcoin has “intrinsic value”.

More recently, billionaire VC investor Tim Draper reaffirmed his belief in a $250k Bitcoin price by Q1 2023 at the latest. These increasingly bullish feelings from Wall Street and institutional investors around the world will no doubt help drive up the price of Bitcoin in the coming months and years.

Gold was also mentioned favorably in the series of slides from Goldman, particularly in a scatter chart (see below) that “helps to identify where trends in the market are extending or turning on a week by week basis.” Gold is featured in the “Strong and Stronger” quadrant, which means it has strengthened for both of the past two weeks. The chart also includes a note indicating that it is yet “another week in the top right quadrant for Gold/precious metals”.

Source: Goldman Sachs

This comes in conjunction with a recent note sent to clients by Goldman Sachs saying that the bank expects the US-China trade war won’t be resolved before the 2020 presidential election. They also said they believed that the economic slowdown will continue and that a recession is likely. Investors have already seen the stock market take a tumble as a result of geopolitical instability, and the U.S. has accused China of manipulating the value of the yuan to damage the profitability of American exports.

These economic conditions have caused analysts to speculate that the recent run up in cryptocurrency and gold prices has in part been caused by Chinese investors wanting to protect their assets against a devaluing yuan. This would mean that Bitcoin and gold prices would benefit even further from the continuation of the trade war and a subsequent recession.

BITCOIN DOMINANCE CONTINUES

Bitcoin’s dominance was down slightly this week, to 66% total. BTC saw significant growth in activity on futures markets, and many feel that we are currently in a bottom. Several major analysts see a Falling Wedge pattern on the charts though, indicating that the Bitcoin price has a 70 percent chance of a bullish breakout

China’s digital currency is ready after five years of R&D. An official from the People’s Bank of China (PBOC) recently stated that the CBDC (Central Bank Digital Currency) prototype exists and that the PBOC’s Digital Money Research Group has already adopted the blockchain architecture for the currency. China’s CBDC won’t rely purely on the blockchain however, as they want a solution that has sufficient throughput required for retail use.

Mastercard recently added three job openings to their website pertaining to blockchain product management. According to the job description, they are developing a blockchain wallet solution that will likely be a rival to Facebook’s upcoming wallet Calibra.

GOLD PRICE NOW TARGETING $1,550 LEVEL

After overnight buying took gold to $1,470 an ounce, the precious metal is now targeting the $1,500 level. According to the MKS PAMP Group, an investment firm, “Early European bids underpinned the metal to a USD $1,470 high, with consolidation above USD $1,500 the key to a further extension of the recent move higher. Gold will now look to target resistance toward USD $1,480-$1,500, while USD $1,520 looms as a pivot for near-term pricing.”

Goldman Sachs also sees gold’s rally as far from over, with analysts saying that ““Gold prices have increased further as a weaker CNY sparked substantial U.S. and global growth fears. With growth worries likely to persist, gold could rise further, driven by an increased ETF allocation from portfolio managers, who continue to under-own gold.”

With no trade deal expected before the 2020 presidential election, investors will see higher gold prices due to increased global growth fears, added Goldman. Gold’s ETF demand is also on a strong upwards trend, with the bank upping its 2019 forecast from 300 to 600 tonnes.

Now is the time to take advantage of the rising price of gold and protect yourself from stock market volatility. Indicators are showing that these bullish trends will continue in the gold markets, giving you an excellent opportunity for immediate growth and providing protection for your assets against future economic downturns. Don’t miss out on this opportunity. Act now and reap the benefits.

The post Goldman Sachs Bullish On Bitcoin & Gold As Recession Signals Continue appeared first on Regal Assets.

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Report: #1101644

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Submitted: Sat, November 23, 2013
Updated: Wed, September 21, 2016
Reported By: William S — Alabama

Regal Assetsburbank blvdburbank, CaliforniaUSA

Phone: 8779621133
Web: www.regalassets.com
Category: Financial Services

Regal Assets Christian Howard,Adam McGuire Sounded great at first great reviews online, but WHAT A BUNCH OF SCAMMERS burbank California

*Consumer Comment: Legal Notice to the Author *REBUTTAL Owner of company: This is a competitor and a subpoena has been filed with the courts *Consumer Comment: I read this below about Regal assets having so many domain names, Why would they need so many *UPDATE Employee: This post is from a competitor and this is NOT a real client

I found an ad from online for a free fold IRA rollover through The Gold Group. When I got there info after contacting them I learned that the IRA is not free so The Gold Group lied to me so i decided to do some research online.

I came across a website called “Top Gold IRA Companies” and some other consumer review sites that all lead to one company that I started looking into Regal Assets.

at first all the information on line was ver warming to me. The company seemed to have great reviews on the web. so I called in to request there INC5000 and Fortune 500 investor kit that was featured in and promoted on their website.

I was then introduced to a Christian Howard who was very polite in getting me my info. After sometime on the phone with Christian I was then forwarded to his partner Adam McGuire to help me decide on what type of silver to go in my IRA. adam was very savy and Sly. I thought I was going to get pure silver bullion in my IRA but what I ended up with is the biggest nightmare.

About a few months after I roled my account over to Regal Assets i got my 1/4ly statements from my new IRA and was devastated. Against my wishes Regal put premium coins in my account at a high spread. Even though they agreed to switch the silver in my account back to bullion the prices I have to pay on the bullion is much more over priced then other companies I looked into after the SCAMMERS at Regal Assets ruined my IRA.

I know when to cut my loses so at this time I am no longer in communication with Regal Assets as i was advised by attorney to no longer have any communiction with Regal while we go to court.

I hope anyone looking to add precious metals to their IRA or retirements strongly do their due dilligence and NOT WORK with scammers like Regal Assets and guys like Christian Howard and Adam McGuire.

I believe I was victim of Deceptive Advertising and Bait and Switch selling practices.

This report was posted on Ripoff Report on 11/23/2013 06:20 AM and is a permanent record located here: https://www.ripoffreport.com/reports/regal-assets/burbank-california/regal-assets-christian-howardadam-mcguire-sounded-great-at-first-great-reviews-online-b-1101644. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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Conclusion

Hope this post was helpful to you and that you have a very successful trip fishing with your friends and family! Check out the other sections of my blog for more tips on ThebookOnGoneFishing.