If Bitcoin is part of your crypto portfolio, then you’re going to be thrilled by the prediction recently made by Goldman Sachs analysts. That the Bitcoin price will increase – up to $8K. Right now Bitcoin is trading for just under $7K, when you check the CoinDesk Bitcoin Price Index.
We’ve seen Bitcoin reach $5K and then go to $6K in October. There is a potential caution with the recent prediction about the upcoming price surge. Goldman Sachs analysts are thinking the Bitcoin price may come to a pause for a period of time. However, they are upbeat about it moving even beyond the predicted $8K price range for the future.
The levels that the Bitcoin has reached, with continually increasing value is quite exciting. Technical analysts call this type of pricing level the Elliot Wave theory. With Bitcoin, these experts consider us to be in the 3rd of 5 waves that will continue to move upward.
Bitcoin was the very first cryptos to truly see great financial success and makes up the majority of most portfolios. Right now there is a lot of excitement surrounding Bitcoin as we watch the price continue to grow. To think that only a month ago it was $1K lower!
If you’ve had your eye on Bitcoin lately, then you know its value has risen by more than 600% during 2017. Now crypto investors who hold Bitcoin are awaiting upcoming news regarding a fork in the Bitcoin network.
It’s certainly an exciting time to own Bitcoin, as people are watching both the Goldman Sach’s prediction and the potential fork with great anticipation, to see how their crypto investments will be affected. Every time Bitcoin has a hard fork, you receive a second amount of the new currency, matching whatever amount of Bitcoin you held in a supporting wallet.
Experts agree that one top reason the price of Bitcoin is rising is actually due to the news investors are waiting for regarding the fork. Investors are buying in, hoping to get in before it happens so they can double their money. And after all, why wouldn’t you do this as well? It’s free money in your pocket!
Quite likely, your Bitcoins will reach that $8K price as the sales of Bitcoin continue at a fevered pitch. We highly recommend that you keep an eye out for updated news regarding the fork, as this will probably have an effect on the price – at least temporarily. One benefit to this is that you may have the opportunity to pick it up for a slightly lower price while people question what the fork is going to do. But do keep in mind the Goldman Sachs experts and their estimation of Bitcoin being at the 3rd of 5th levels, we’ve got growth ahead of us.
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