Popular Demand Spurs Goldman Sachs to Start Covering Bitcoin
Bitcoin.com recently reported on hedge funds quietly investing in bitcoin. An article by Zero Hedge on Monday confirms that hedge funds are actively trading the digital currency. In addition, fund managers that are clients of Goldman Sachs have also petitioned the firm's chief technician Sheba Jafari to start covering it.
Bitcoin Price Will Hit $250,000 by 2020 If Seven-Year Trend Continues.
BitGo Software Engineer Jameson Lopp revealed that if the seven-year trend of Bitcoin price continues, Bitcoin will be valued at around $250,000 by 2020.
Lopp calculated the seven-year trend of Bitcoin price based on daily value change. With the exception of 2014, which was affected by the downfall of now-defunct Mt. Gox, Bitcoin has continuously recorded positive daily value change since 2010
Bitcoin bulls runs wild as cryptocurrency surges above $3,000
Bitcoin traded above $3,000 for the first time, helped by increased demand from Asia-based investors.
The cryptocurrency climbed to an all-time high Sunday of $3,012.05, according to CoinDesk.
Bitcoin has now more than tripled in value since trading at $968 on Dec. 31, and has gained nearly 30 percent in June alone.
Bitcointraded above $3,000 for the first time on Sunday, continuing this year's massive surge and helped by increased demand from Asia-based investors.
After trading in a range for the last week, bitcoin climbed to an all-time high Sunday of $3,012.05, according to CoinDesk.
