Goldman Sachs hopes bitcoin to reach a next level.
In the past few months, we have seen Bitcoins stepping up trend by breaking the hurdle of 7000 dollar to be an ever time high. Goldman Sachs has forecasted the Bitcoins to reach up to a value of 8000 dollars.
The vice president, Sheba Jafari, of Goldman Sachs along with a team of FICC market strategists had formulated the forecast during the past few days. She mentioned that after exceeding the value of Bitcoins by 6,044 dollars, it was evident that its market increased to a considerable extend – as reported by Coin telegraph. The value is expected to reach up to 7,941 dollars with a chance of it growing even higher.
With the above said, the comment made by Ms. Jafari was completely different from what was told before a few months. She made a prediction that the cryptocurrencies might go up to 4,800 dollars with a considerable decline in it value to around 2,200 dollars.
Jafari had made a statement that Bitcoins will no longer face a major decline. After a continuous analysis, Bitcoins are supposed to show an inclination in its value in coming future which is backed by the incline that was seen in this year. It is not surprising that she remains quiet about setting the goals high.
Money goes a long way
Bitcoins have been faced with different opinions by different investors. James Dimon, CEO at JP Morgan Chase, mentioned the virtual currencies to be fraudulent and he believed that it was idiotic to even trade by using Bitcoins although they are exploring the technologies related to Blockchain.
In the previous months, Bitcoins were at its top in the market and according to Kenneth Rogoff mentioned that the cost has reached a point where it could no longer increase. He added, the cryptocurrencies are facing major restrictions from the government and the potential to grow is blocked.
There are many investors who hope there would be a positive impact on Bitcoins. A respected investor on Bitcoins formulated that the value will exceed 15,000 dollars before December 2017, which now considered rather ambitious. Many other investors have also forecasted that the value might hit a 20,000 dollars mark in the coming 3 years.
The Bitcoins may not only used as an investment option but also used for other purposes. Steve Wozniak, CEO of Apple, considers Bitcoins as a valuable asset which will someday be more valuable than gold because of its stability to resist the variations in its supply.
The Bitcoins are faced with a number of questions that has no answers in the future. Moreover, Jafari commented that the tune of many investors about the cryptocurrencies worth is beginning to fluctuate according to the market variations.