The last year has brought bitcoin an interesting evolution, considering the fact that the price has tripled in a couple of months, and has reached the sum of $3,000 not long ago. This massive growth has brought about massive amounts of speculation on the market, with economic analysts from all around the world thinking that the increasing price is simply a bubble that will break soon enough.
It seems like the chief technician behind Goldman Sachs’ shares the same idea in this case, yet with a little twist. With this factor in mind, Sheba Jafari, in a recent report stated that in the near future, the price will likely break and decrease for a while, only to then proceed to climb even higher, possibly hitting the sum of $4,000 per unit of currency.
The chief technician also stated that at this moment in time, bitcoin is in its very own 4th corrective wave, with prices still getting set to the value of the market. Judging by this aspect, it has been stated that the fourth wave will likely not go any lower than around $1,857.
Further analysis by the head analyst showcase that the upcoming 5th wave of bitcoin value, will likely have a bullish turn once again, with the total value of the digital currency peaking even higher, which is absolutely great news. In a recent press statement, it was written that: ‘From currency levels, this has been a minimum target that goes out to $3,212. There is potential for this to extend as far as $3,915. It just might take time for the currency to get there’.
This only represents the second bitcoin price analysis being carried out by Jafari, who reportedly began covering bitcoin around a month ago, after insistences from the clients. When compared, it is important to point out the fact that the first analysis report had a slightly different approach, given the prices of the currency at that moment in time.
Regardless of these aspects, one thing is clear: bitcoin is growing. Leaving aside its recent loss in value, it is 5.28% up at this time, and has a global average of around $2,570, which is good enough for the moment. Analysts believe that the value will continue to grow, given the multitude of events that are happening on the market, thus making the current moment, a great chance to stock up on some more coins.
Based on everything that has been outlined so far, what do you personally think about the potential growth in value for Bitcoin? Will this affect other digital currencies? Let us know your thoughts in the comment section below.