$ 8,000 for Bitcoin before the end of the year? Analysts at Goldman Sachs think it’s possible

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Bitcoin Goldman Sachs

Last October Bitcoin reached its historic peak reaching up to $ 7600 per unit in the market. The entire community was stunned by such an increase considering that the currency had started the year below $ 2,000. That price will fall to nothing according to analysts of the bank Goldman Sachs, Sheba Jafari and Jack Abramowitz, who think that a new upward trend is approaching in the market that could cause that the most famous cryptocurrency of the world equals or surpasses the 8000 $ before closing year.

In spite of the criticisms that it has received in the last months and of the declarations of war of some countries towards the bitcoin, this continues being the most valuable currency of the world. The analyst Sheba Jafari thinks that despite everything that is said, people continue to buy cryptocurrencies and as long as there is a market, the value of bitcoin can continue to rise at any time.

Jafari analyzes, taking into account that the minimum price of the past month was never less than $ 6000 despite the regulations and criticisms of the blockchain system, which last month marks a break that could generate a third wave of increases that will not be the last. However, both Jafari and Abramowitz believe that the next increase could begin to delineate signs of consolidation of the currency worldwide, which could make the future continue its upward trend.

In addition, the investment bank Goldman Sachs has announced the creation of a new fund that revolves around cryptocurrencies. A sign that more and more institutions trust in the consolidation of this economic system. In relation to this, its CEO Lloyd Blankfein has made it clear that bitcoin is one of the few things that work well and are not to his liking.

Is the price determined by the market or by speculation?

In Venezuela something curious happens with its local currency as it is devalued daily on the black market. Many argue that these increases of the dollar in relation to the bolivar (Venezuelan currency) are not a consequence of the market but of pure speculation. Could you think the same of the increase in bitcoin? Possibly there are those who will think so. It was very difficult to imagine such increases considering the price of the currency in January.

When China stopped investing in bitcoin, there was a decline in prices. However, this was only seen as an opportunity for millions of investors in the world who took care to buy as much as they could by making the price of the digital currency rise again.

That is why the growth expectations of bitcoin do not stop for now because more and more countries are beginning to accept it in their territories. It is based on this that Goldman Sachs analysts think that it will easily reach $ 8,000 before the end of the year. Is it possible to see a Bitcoin above $ 10,000? For now it does not seem impossible, but in a year everything can happen.

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