Some weeks after crossing the $7000 milestone, bitcoin surged to a new all-time high on November 16, peaking at $8020 at the one of the most popular bitcoin and cryptocurrency exchange, Bitfinex. This marked the first time the digital currency’s value surpassed the $8000 level, although it dropped back down to $7896.
During this month, Sheba Jafari, the vice president of the Goldman Sachs FICC marketplace strategies team, anticipated bitcoin’s value could consolidate somewhere nearly $8000.
Sheba Jafari wrote:
“The marketplace has shown proof of an impulsive rally since breaking above $6044. Subsequent in focus $7941. Might consolidate there earlier than continuing higher.”
Whether she’s right and bitcoin lingers nearly $8000 or without delay maintains upward is up for debate. Veteran trader masterful stated in August that he expects it to hit nearly double that $15000 earlier than the end of the year, and FundStrat worldwide advisor co-founder Tom Lee believes it may surge to $25000 over the subsequent 5 years. With bitcoin gaining acceptance within the mainstream, neither of those predications are outdoor the world of opportunity.