Bitcoin plunges below Goldman Sachs’ target before rebounding sharply
|07/17/2017||Posted by BusinessMediaguide.Com under General World News||
Bitcoin‘s bubble has officially burst.
The cryptocurrency plunged nearly 20% over the weekend, putting in a low of $1,758 a coin before recouping some of those losses. It’s currently trading at $2,048.
At that point, bitcoin was down more than 40% from its record high of about $3,000, set on June 12.
The weekend plunge pushed the cryptocurrency below the target of Sheba Jafari, the head of technical strategy at Goldman Sachs. In early July, Jafari put out a note saying bitcoin was “still in a corrective 4th wave” that “shouldn’t go much further than 1,857.”
Jafari wasn’t the read more >>>