Caution among investors in the crypto-currency market after the bitcoin has exceeded the $4,800 mark, thus reaching its umpteenth historical record. For Goldman Sachs, the price of the digital asset above this barrier sets off all the alarms and points to a possible correction of up to $3,000.
Aside from this prediction, the currency, which has increased by more than 70% in August, has continued to rise this Friday, although it is moderating its earnings to just over 1%, about $4,820, according to the Bitcoin Price Index of' Coindesk'. The increase in capital flows in bitcoin raises the total accumulated stock of the more than 800 existing digital currencies to $170 billion, as shown in the Coinmarketcap aggregate.
The latest shipment of the so-called 'gold 2.0', has catapulted it to the immediate vicinity of the $5,000 mark, the target price of most analysts by the end of the year. However, Goldman Sachs technical analyst Sheba Jafari warns in a recent note for clients that "if the price exceeds $4,827, there will be a sharp correction to prices below $3,000.
Wouldn't be at all surprised by a correction. $5000 is a lofty plateau and going toward it way too quickly. Whether it goes all the way back to $3000 ... quite a swing. But it creates a buying opportunity.
That's right! :)
Very good article. $5000 is going to be an interesting area. It is a huge psychological area of resistance. I would not be surprised to see it hit that and pull back after that.
Slamming $5000 and then a 10% pullback is my guess.
Will not be surprised either... However, the same thing could happen with the stock market at any moment.
Congratulations @baig-khan! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPHola @baig-khan, upv0t3
Este es un servicio gratuito para nuevos usuarios de steemit, para apoyarlos y motivarlos a seguir generando contenido de valor para la comunidad.
<3 Este es un corazón, o un helado, tu eliges .
: )
N0. R4ND0M:
7014 7647 1077 9604
1028 1403 4031 7400
2264 5919 6862 8832
3588 5131 7499 2452
Congratulations @baig-khan! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!