Share this article
Goldman Sachs Eyes Bitcoin Price Near $4,000 in Latest Analysis
Bitcoin markets could rise as high as $3,900, according to a recent client note from investment bank Goldman Sachs.
By Chuan Tian
Updated Sep 11, 2021, 1:30 p.m. Published Jul 5, 2017, 4:30 p.m.
Bitcoin markets could rise as high as $3,900 in the future, according to a recent client note from investment bank Goldman Sachs.
The note from the bank's chief technician, Sheba Jafari, published by financial news site Zero Hedge, argues that bitcoin "could consolidate sideways for a while longer", highlighting a possible low of $1,857 and "eventually targeting" a figure of $3,212.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The analysis from Goldman comes weeks after Jafari published a more bearish analysis of the digital currency's prospects. It was around that time when bitcoin markets briefly surpassed the $3,000 mark. According to the CoinDeskBitcoin Price Index, prices reached an all-time high of $3,018.55 on 11th June. At press time, markets are currently trading around $2,595.
In the note, Jafari posits that bitcoin markets are in the fourth "wave" of a sequence that dates back to late 2010. As for what comes next, Jafari acknowledges that fourth waves "tend to be messy/complex".
Jafari goes on to write:
"This means that it could remain sideways/overlapping for a little while longer. At this point, it’s important to look for either an ABC pattern or a more triangular ABCDE. The former would target somewhere close to 1,856; providing a much cleaner setup from which to consider getting back into the uptrend. The latter would hold within a 2,076/3,000 range for an extended period of time.”
“Either way, eventually expecting one more leg higher; a 5th wave. From current levels, [bitcoin] has a minimum target that goes out to 3,212 (if equal to the length of wave I)," Jafari wrote. "There’s potential to extend as far as 3,915 (if 1.618 times the length of wave I). It just might take time to get there."
Images via Goldman Sachs, Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Sizin için daha fazlası
Bitcoin Faces Japan Rate Hike: Debunking The Yen Carry Trade Unwind Alarms, Real Risk Elsewhere
Speculators maintain net bullish positions in the yen, limiting scope for sudden JPY strength and mass carry unwind.
Bilinmesi gerekenler:
- Impending BOJ rate hike largely priced in; Japanese bond yields near multi-decade highs.
- Speculators maintain net bullish positions in the yen, limiting scope for sudden yen strength.
- BOJ tightening may contribute to sustained upward pressure on global yields, impacting risk sentiment.
Top Stories
