Bitcoin growth doesn’t seem to stop: the currency hits $4,800

As shown by the data from the Bitcoin Price Index (by Coindesk), the growth wave of this currency is so strong that it didn’t stop even after overpassing multiple records set lately. At the press time, the price is 4,757.73 – bitcoin dropped a little after hitting its new record. See the screenshot below for details.

Source: Сoindesk.com

The price growth is usually connected with external factors and wave patterns. Possible external factors often voiced by experts are that the market has recognized the potential of cryptocurrencies, that is why not only Bitcoin is growing, and that the events in North Korea made people search for secure investment like they previously did with gold (this reason is very debatable). Those who explain the fluctuations of asset prices using the wave pattern theory, say that this growth will undoubtedly end somewhere in the near future.

Among these latter analysts is Sheba Jafari from Goldman Sachs. When the price of bitcoin was at $4,300, she told it can overpass high values like $4,800, but then it will drop as low as $3,800 or even lower. The prediction has already partly come – today we see Bitcoin has indeed managed to overpass $4,800. Will the next half of her market assessment prove to be correct? Time will show.