GOLDMAN SACHS: Bitcoin could see a big drop then surge to almost $4,000
Even though Bitcoin has been called a bubble, investors who have hungrily watched Bitcoin's price soar 290% over the past year from the sidelines still have a chance to win big. Or at least that's according to Goldman Sachs analyst Sheba Jafari.
On Sunday, the banking giant sent a note seen by CNBC that said Bitcoin, now priced at $2,568 a piece, could fall as low as $1,857 before bouncing to a much higher valuation between $3,212 to $3,915. That means if an investor watches the cryptocurrency carefully and times it perfectly, they could gain as much as 110% on their initial investment. Granted, that would take quite a bit of patience, with Goldman acknowledging that "it take time to hit $3,915.
If Bitcoin were to hit $3,915, then that would add another $22 billion in market capitalization to cryptocurrency, which is up 53% from Bitcoin's current market capitalization of $42 billion.That comes as the cryptocurrency has fallen from a high of just over $3,000 in mid-June, with investors, including Mark Cuban, warning that Bitcoin's price has already peaked.
Source: http://fortune.com/2017/07/03/goldman-sachs-bitcoin-price/
I respect Mark Cuban as a businessman...but he does not understand cryptocurrency that well. When it comes to Bitcoin I prefer to take my information from the kids wearing hoodies not the suits. :-)
You should take infos from both and make your own opinion i think :)
Waiting and watching to see this glorious move upward.
Standing by... :)
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