After Bitcoin Futures Launched, Goldman Says Price Headed Higher, New Hedge Fund Launches

It wasn’t that long ago that Goldman Sachs was watching the $4,827 level on Bitcoin USD, predicting a bull market. This was before exchange heavyweight CMEGroup and Terry Duffy piled into what was declared an asset that could be “tamed.” In announcing the launch of Bitcoin futures, a move juxtaposed to that of JPMorgan’s Jamie Dimon, who called investments in the cryptocurrency a “fraud,” CMEGroup isn’t taking directional price exposure but rather transactional exposure. Such market gyrations are playing themselves out as Goldman Sachs, after accurately predicting the recent price rise in bitcoin usd, now looks to $7,941 as a new cryptocurrency hedge fund launches in the wake the CMEGroup’s Bitcoin announcement.