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bitcoin can be $ 4,800
An analyst for investment bank Goldman Sachs said yesterday that the price of bitcoin could shoot as high as $4,800, comments that came amid new highs for the cryptocurrency.
Business Insider reports that, in a client note distributed on Sunday, chief technician Sheba Jafari suggested that the price of bitcoin could shoot well past 3,600 she set late last month. That same day, the price of bitcoin shot above $4,000 for the first time.
With that milestone hit, Jafari predicted, the price could climb to as much as 3,000.
Jafari’s comments come as the price of bitcoin continues to trade above the 4,328, an increase of more than 5 percent compared to yesterday.
Beyond predictions themselves, Goldman has been advising its client base that money, from their view, is moving into the market.
"Whether or not you believe in the merit of investing in cryptocurrencies (you know who you are), real dollars are at work here and warrant watching,” a group of analysts for the firm wrote last week.
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