Goldman Calls Near $4K for Bitcoin

Investing, News | July 3, 2017 By:

Chart analyst Sheba Jafari of Goldman Sachs has advised clients that bitcoin may rise near the $4,000 per single coin mark in the weeks ahead, based on its three-month performance.

Jafari said in a Sunday report that she expects bitcoin could rise as high as $3,915.  “The market is in wave [four] of a sequence that started in the late-’10/early-’11 lows,” Jafari wrote.  She added that she is “eventually expecting one more leg higher; a 5th wave.”

 

 

Bitcoin has been between $2,100 and $2,700 for the last month, as traders wait and see what effect, if any, the network updates planned in the next month will have.

Jafari recently called bitcoin’s plunge from its $3,100 level high in early June. The prices fell to the $2,100 level by mid-month before recovering.