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 $4,000 given that it had neared a target of around $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 $4,827. But she went on to caution that the market could correct, sending the price tumbling below $3,000.
Jafari’s comments come as the price of bitcoin continues to trade above the $4,300 mark. At press time, the price of bitcoin is roughly $4,328, an increase of more than 5 percent compared to yesterday.
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Source: CoinDesk
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