Bitcoin Price Smashes $50k, Will Goldman Sachs Arrival spoil the plot?


Goldman Sachs May trigger Bitcoin Bear league!

As Coinpedia had reported earlier that Bitcoin bearish divergence may initiate very soon, it appears that the BTC price has flipped the bull run. Moreover, with the entry of Goldman Sachs in the crypto space, the Bitcoin price rally may smash the lower level as it occurred previously.

Wall street giant Goldman Sachs restarted its Crypto trading desk by resuming BTC futures and non-deliverable forwards for its clients from next week. If the reports are accurate, the possibility of a bitcoin price smashing much lower levels cannot be ruled out as it happened before.

Goldman Sachs initiated the crypto trading desk previously in 2017 when the BTC price was in its peak, trading around its ATH. Soon after, the price crashed within no time from more than $19k to less than $4k. Therefore, the current phase may be the time to guard your money as advised by a popular trader and analysts, Peter Brandt.

Also Read:  Top 5 Bitcoin Price Predictions for 2021 and Beyond

Will Micheal Salyor pump Bitcoin price yet again?

Micheal Saylor, the CEO of Microstrategy announced another round of BTC purchase of nearly 328 BTC worth approximately $15 million. The CEO bought additional bitcoin very cleverly before the longs accelerated. 

The very first Bitcoin price push was with the very first Bitcoin purchase by Microstrategy when the price was attempting very hard to smash $10k levels. Later, the price went long whenever Micheal Saylor announced his bitcoin purchase as analyzed by a popular analyst, Luke Martin.

The purchases of Microstrategy are pretty interesting as shown in the above chart that whenever the company announced BTC buy, the price shot up notably. Therefore it appeared that the company always bought at the dip, yet it always bet on the longs.

Collectively, the crypto space is always a tough fight between the bulls and the bears. Bitcoin price rally however may be impacted with the upcoming major events in the crypto space whether it may be Goldman Sachs or Microstrategy.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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