The cryptocurrency’s popularity continues to soar this year, particularly, phenomenal Bitcoin which according to a financial expert could soar as $4,000 value.
The financial expert has predicted that today’s most popular cryptocurrency, Bitcoin, value could reach as high as $4,000.
2017 is truly the Bitcoin’s stunning year and continues as Goldman Sachs head of technical strategy Sheba Jafari predicts a fifth wave for the cryptocurrency.
Following a temporary drop, Bitcoin could hit a record-high value of almost $4,000 per coin, according to Jarari.
In January, the value of the cryptocurrency soared past $1,000 and then again in February.
Tracking its performance 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 before finishing the month at close to $2,500.
Meanwhile, just last month, Burger King Russia plan to accept Bitcoin as payment on their transactions, a move that reflects to the Russians great patronage to the new and growing cryptocurrency in the market.
Bitcoin’s 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 cryptocurrency is in a bubble.
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 clients on Sunday, July 2, advising that while the value of Bitcoin may drop, it is ultimately likely to go even higher.
According to Jafari’s note, which was published by Zero Hedge, Bitcoin is still in the midst of a “corrective 4th wave” during which the value may fall as low as $1,857 — a drop of around 25 percent.
According to Jafari, Bitcoin investors should not put any worries about this drop very much, though, because the currency could hit a record value during its fifth wave, perhaps as high as $3,915.
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.
Meanwhile, Bitcoin has not the only top performing cryptocurrency, one of the fast-growing is Ethereum, which suffers loss following a fake news spread in social media that it’s founder has died over car accident.
Ethereum, even kicks Bitcoin on a market performance and even hailed as king of cryptocurrency- for now. No matter what future the cryptocurrency would shape our market it really lies on the value it brings for the people in the market.