Goldman Sachs is bullish on Bitcoin

There was a solid social volume spike detected on Goldman Sachs topic related to BTC:

A few even higher social volume spikes can be seen on a two-year time frame.

Starting with the latest.

News titles were bullish yesterday:

• Goldman Sachs Analysts’ Slide Suggests Now’s a Good Time to Buy Bitcoin
• A Goldman Sachs Analyst Is Bullish on Bitcoin. But Is Goldman?
• Goldman Sachs Gets Bullish on Bitcoin With a Price Target of $13,971
• Goldman Sachs Talks Bitcoin: Where Does Wall Street Think BTC is Going Next?
• Goldman Sachs Analysts Say that It’s Time to Buy Bitcoin
• Bitcoin Is ‘Ludicrously Underpriced’: Ex-Goldman Sachs Exec

This is the source, a slide by GS:

Key points:

• "Any such retracement from $12,916-$13,971 should be viewed as an opportunity to buy on weakness as long as it doesn’t retrace further than the $9,084 low"
• The prices used for the analysis don’t include weekend prices and are likely from futures market data
• The views “are not an ‘official view’ of Goldman Sachs,” cautions a note introducing the 28-page packet of slides titled “The Charts That Matter Next Week.” The bank sends such packets to clients weekly to highlight market trends to watch out for.
• Goldman Sachs’ former CEO and chairman has previously said bitcoin just isn’t his thing. Lloyd Blankfein said in an interview last June that bitcoin is “not for me … I don’t do it. I don’t own bitcoin.”

BTC price action since Goldman Sachs publication: -6.5%

Social buzz these days:

Hmm, couldn't find a single positive line in chats. All bearish.

Now let me shortly cover the previous spikes.

- Goldman Sachs took all time high in social volume on September 6th 2018.

It was three times higher then latest.

Reason was Goldman abandoning the idea of setting up a crypto trading desk due to regulatory concerns.

This was the closest one to BTC bottom.

- Before that GS had a social volume spike on May 3th 2018, when GS announced launching thet crypto trading desk. On local BTC top.

- And the first spike was observed on February 28th 2018, when Goldman Sachs went out with it's first outlook for Bitcoin and Ethereum.