Bitcoin price is still oscillating around $2,500, albeit the constant swings. The past few days have been a period when the price could rise by $20, or even $30 in a matter of minutes, and then drop again after few hours. In the past 5 days, the difference between the highest and lowest price has been over $200, which doesn’t happen to often in periods when the tendency isn’t either growing or decreasing.
Those with stable nerves may very well benefit from the situation it has been suggested. A report by Goldman Sachs appears to suggest that the prize might grow up to $3,900 and above, or more than 50% of its current price. It is expected that this analysis will give a positive input to all those who intended on investing in Bitcoin in the upcoming period.
However, in the analysis has also been suggested that the price might fall significantly before it grows, in fact, it might even drop below $2,000 or even $1,900 before soaring to an amount higher than $3,900 and in that case the growth would be even more astonishing.
The Price is Volatile, yet Steady around $2,500
Even though the price has fallen by more than $100 compared to two weeks ago, that’s still not a reason to panic. The $2,500 price tag is more a psychological border for investors now. There have been some suggestions that the North Korean missile crisis that is ongoing might have an impact on the market movements, but that we are yet to see if there will be an actual impact. Bitcoin in the last month or year has shown to be less volatile than many have expected.
The market cap remains stable above $40 billion and it is not expected that it might fall below this line. The traded volume in the past 24 hours exceeded $910 million. The moving averages are still close, which might suggest that the price can grow in the upcoming few days, but it is not likely that this time it will be a rapid growth.
Realistically, we can expect quite a few swings in the near future, but it is not likely that there will be any drastic changes, so it is wise to be cautious. Those who are looking to make a short term gain, should be ready to take the risk and buy if the price drops below $2,400 and sell if it goes above $2,600.
The Price Might Reach $3,900 according to Goldman Sachs
Sheba Jafari of Goldman Sachs, who analysed the recent price movements of Bitcoin, said that the price might grow by 50% in the future, adding that Wall Street and other financial markets are now paying close attention to the Bitcoin price and that larger players might be willing to enter the market.
Jafari also warned potential investors that the price might drop significantly before it grows over $3,900, saying that it might even go as low as $1,900. If the price falls by that much, that will probably be a sign for big investors who will then flock the market in a bid to maximize their profits.
Jafari analysed the history of the Bitcoin price in the last years and the patterns of growth, but also took all new moments into consideration. One clear testament of the reputation of Bitcoin is the fact that popular and renowned papers like Fortune and Barron’s now publish serious piece on Bitcoin and the Bitcoin price, especially after the Goldman Sachs analysis.