I checked the graphs at Bitcoinwisdom. The prices went down to around $3,600, before stabilizing at $3,900-4,000 levels. The decline was much less severe than the one predicted by Goldman Sachs.
Goldman Sachs always get storys wrong about bitcoin. They always seem to find opportunities to make bitcoin look bad.
I think these variations in price are normal and the price will continue to grow reaching 5k until the end of the year if not more. The only thing that can slow down bitcoins are the altcoins that seem to have a raise in popularity among traders lately.
Goldman and Sachs always like to speculate about the price of bitcoin and they usually get it wrong. No one can predict the price of bitcoin because its really really hard. But this is back by a bank so I don't know if they have their own agenda in predicting the fall of bitcoin price.
But price is already recovering from the dump, I think this one is usual correction after a long bull run. Price might settle between $4000 and $4500 for next few weeks before pumping over $5000.
I think investors should by now be familiar with the trend on how bitcoins value rises and falls, This is the same thing that happened when it finally broke the $3000 barrier, it hovered around for some and then dip for almost a month or so and then it finally begun to rise. Newbie investors at this stage panic and start to sell.
Correct, that $3000 wall was really hard to penetrate initially, but once the wall has been breached, bitcoin surge ahead -and goes to $4000. Same thing is happening now, The $4000 - $4500 is the new mental barrier, but once again when its time to break it, we will just go as if there is no barrier and the price could go higher. No need to panic here, this is how the crypto world works.
