Goldman Sachs analysts, Sheba Jafari, says the previous leap of Bitcoin made it close to the “fifth wave”.
Sheba said on a Sunday report that the digital currency is currently on a “fifth wave” of an impulsive rally that could possibly run more than $4,827, but the market must enter a corrective stage once it arrives in a full-wave sequence..
According to the currency news website CoinDesk, Bitcoin quadrupled its value for 2017 as it touched a record high of $4,348.23 on the previous day. Bitcoin gained as much as 11 percent before being in-line with Jafari’s estimations.
Gold futures were once again dragged to the negative territory by a much stronger dollar on Tuesday’s opening session. The easing of the tension between U.S. and North Korea (According to North Korea’s official news agency, Kim Jong-un said that he would monitor the actions of the United States for a while longer before considering its plans to attack the U.S. Pacific territory of Guam) negatively affected the bullion.
U.S. gold futures fell more than 0.4 percent to trade at $1,285.00 an ounce for their December delivery. Spot gold edged down about 0.2 percent and finished at $1,279.01 an ounce.