BTC, ETH, BNB, ADA, DOT, XRP, UNI, THETA, LTC, LINK

Following in the footsteps of Morgan Stanley, Goldman Sachs has announced plans to allow its wealth management clients to trade in cryptocurrencies and other digital assets. In an interview with CNBC, Mary Rich, the global head of digital assets for Goldman Sachs private wealth management division, said that the rollout may happen sometime in the second quarter of 2021.

Bitcoin adoption by two of the world’s preeminent investment banks is likely to force other banks to walk down the crypto path sooner than later. The arrival of fresh money from the clients of these legacy institutions may further increase demand and boost prices higher.

In response to a question about Bitcoin’s (BTC) future value, Kraken CEO Jesse Powell told Bloomberg that one Bitcoin, which currently buys a Tesla Model 3, will buy a Lamborghini by the end of the year and a Bugatti by 2023.

Daily cryptocurrency market performance. Source: Coin360

Another bullish voice was that of Galaxy Digital CEO Mike Novogratz who said in an interview with CNBC that Bitcoin “is on an inevitable path to having the same market cap and then a higher market cap as gold.”

However, not everyone is bullish on Bitcoin. Boris Schlossberg, the managing director of FX strategy at BK Asset Management, told CNBC said that Bitcoin was “very, very close to perhaps an intermediate-term top here.”

Let’s analyze the charts of the top-10 cryptocurrencies to determine the trend and the path of least resistance.