Goldman Sachs Predicts Bitcoin Would Stabilize At The Price Of $8,000 Before It Continues To Go Higher
Many of the investors today are wondering for a price point where Bitcoin will stabilize.
Since Bitcoin price rallied through $5k, $6k and now at $7k in just weeks, technical analysts believe that it could go up more.
Sheba Jafari, VP of Goldman Sachs noted that evidently Bitcoin has broke the $6,000 mark and believes that it will eventually hit near $8,000 mark.
He believes that the long term trend for Bitcoin is up. Referencing to Elliot's Basic 5 Wave Theory, he considers this time as the third of the the five waves up and the implications are that BTC has a great potentiality to go further in price.
Ronnie Moas of Standpoint Research Raised His Bitcoin Price Prediction to $11,000 in 2018
A well respected market expert at Standpoint Research, Ronnie Moas has raised his Bitcoin price prediction again to $11,000 in 2018.
Early this year he set a price target at $5,000 which he later raised to $7,500 during the surge in September this year.
Based on the current events and announcements such as CME Group's adding Bitcoin futures, he believes that it will speed up the rate of Bitcoin adoption ahead of his bullish targets.
Also, he stated that Bitcoin is not a bubble and not a fraud as opposed to UBS speculations and Jamie Dimon statements against Bitcoin.
He said that these people are just heavily invested in the publicly traded US banks and that they are threatened by cryptocurrency.
It is more likely to find scams and bubbles in the US stock market, he added.
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