Bitcoin prices have tumbled in recent days, prompting some technical analysts to speculate that the largest digital currency must hold the $7,400 area or risk more declines. Count Goldman Sachs among those in bitcoin’s bearish camp.
“Goldman Sachs is not optimistic for the near-term fate of cryptocurrency. In its mid-year economic report, the bank’s investment management group highlighted “cryptocurrency mania” as one of six factors creating an unsteady undertow affecting markets for the remainder of 2018,” reports CNBC.
A poll conducted by Gallup-Wells Fargo revealed that 72% of U.S. investors have no interest in ever buying Bitcoin, while 2% currently own the cryptocurrency and 26% are on the fence.
The results were based on a second-quarter Wells Fargo-Gallup Investor and Retirement Optimism Index survey conducted online from May 7 to May 14 via the Gallup Panel. The poll consisted of U.S. adults with $10,000 or more allocated to stocks, bonds or mutual funds within or outside a retirement savings account.