Bitcoin, Ethereum move higher

05.07.2017 / 00:22

Rating:

Bitcoin was sharply higher on Tuesday as investors piled into the digital currency after an analyst at Goldman Sachs said it could rise to another record high.

On the U.S.-based GDAX exchange, BTC/USD rose to $2,602.1 up $108.7 or 4.36%.

In a note to clients sent out Sunday, Sheba Jafari, the head of technical strategy at Goldman Sachs, suggested that while bitcoin's correction hadn't run its course, the cryptocurrency was ultimately heading higher.

Jafari wrote that although bitcoin was in period of correction that "shouldn't go much further than $1,857", on the upside “there’s potential to extend as far as $3,915”.

Bitcoin touched an all-time high of $3,000 on June 11 only to fall 27% in the following days. It ended the first half of the year at $2,436.7, after more than doubling its price in the previous three months.

Ethereum was up 2.24% to $282.2, still well below its June peak of $419.3.

Source: Bloomberg Pro Terminal

Trader - S. Fuchedzhiev

Varchev Traders

Read more:

RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.

WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.

Varchev Finance

Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.

Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006

The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Disclaimer:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Bitcoin, Ethereum move higher

London

Universal numbers