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Bitcoin plunges below Goldman Sachs’ target before rebounding sharply

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 >>>

Source:: BusinessInsider.Com

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