In Brief Bitcoin's stunning year continues as Goldman Sachs head of technical strategy Sheba Jafari predicts a fifth wave for the cryptocurrency. After a temporary drop, Bitcoin could hit a record-high value of almost $4,000 per coin, according to Jarari. <\/p>\n
Were barely past the halfway mark, and already Bitcoin is having a big year. The value of the cryptocurrency soared past $1,000 in January and then again in February. By March, its value surpassed that of gold, and on May 10, it hit what was then a record-high value of more than $1,700 per coin. In June, Bitcoin set a new record, closing above$3,000 beforefinishing the month at close to $2,500. <\/p>\n
In all, Bitcoins first-half gain was approximately 168 percent this year, which has led various commentators,including Mark Cuban and Charles Schwab chief global investment strategist Jeffrey Kleintop, to suggest that the cryptocurrencyis in a bubble. <\/p>\n
The latest expert to weigh in on the future of Bitcoin is Goldman Sachs head of technical strategy Sheba Jafari, who sent a note to clientson Sunday, July 2, advising that while the value of Bitcoin may drop, it is ultimately likely to go even higher. <\/p>\n
According to Jafaris note, which waspublished by Zero Hedge, Bitcoin is still in the midst of a corrective 4th wave during which the value may fallas low as $1,857 a drop of around 25 percent.According to Jafari, Bitcoin investors shouldnt worry about this drop very much, though, because the currency couldhit a record value during its fifth wave, perhaps as high as $3,915. <\/p>\n
Whether the value of Bitcoin does soar toward the $4,000 mark or not, 2017 will still go down as a historic year for digital currency. <\/p>\n
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Finance Expert Predicts Bitcoin's Value Could Soar as High as $4000 - Futurism<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" In Brief Bitcoin's stunning year continues as Goldman Sachs head of technical strategy Sheba Jafari predicts a fifth wave for the cryptocurrency. After a temporary drop, Bitcoin could hit a record-high value of almost $4,000 per coin, according to Jarari. Were barely past the halfway mark, and already Bitcoin is having a big year Continue reading