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Bitcoin Could Reach $4,800, According To Goldman-Sachs Analyst

Bitcoin.allanlau2000/Pixabay

With the rally that cryptocurrency Bitcoin (BTC) saw last this week, it was only a matter of time before it crashes, according to several financial experts and publications. However, before this happens, one Goldman-Sachs analyst says that it could reach $4,800. At this point, it’s difficult to say if this is indeed going to be the case as the currency just saw a bit of a crash.

As of writing, BTC stands at $4,039 at CoinDesk after reaching a peak of $4,483 on Wednesday morning. When it crashed, the currency lost $500 of its value, proving just how volatile the market it. On the other hand, it is quickly rallying now and there is still a chance that Goldman-Sachs analyst Sheba Jafari would be proven right regarding the fifth wave heights that BTC is going to reach.

According to Jafari’s notes to clients that were sent out last Sunday, the currency is primed to reach values as high as $4,827 if the current trajectory holds, Business Insider reports. Once it does, the market will correct the imbalance, bringing it down to a measly $2,221. That’s less than half of the previous valuation for the coin.

Jafari is not alone in this assessment either, as numerous publications are already warning readers not to own Bitcoin as it is right now. A Forbes article is already telling potential investors that unless they are professionals in the field of cryptocurrency trading, they should probably stay away from BTC.

From a spectator’s standpoint, it is likely easy to see that the currency is currently on unsteady grounds, looking like an increasingly wobbly Jenga tower. If these predictions turn out to be true, the only question that investors need to ask themselves is whether they stick around as long as possible to maximize their earnings or play it safe and cash in before they lose over 50 percent of their accrued profits.

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