Check out all the on-demand sessions from the Intelligent Security Summit here.
Even though Bitcoin has been called a bubble, investors who have hungrily watched Bitcoin’s price soar 290% over the past year from the sidelines still have a chance to win big. Or at least that’s according to Goldman Sachs analyst Sheba Jafari.
On Sunday, the banking giant sent a note seen by CNBC that said Bitcoin, now priced at $2,568 a piece, could fall as low as $1,857 before bouncing to a much higher valuation between $3,212 to $3,915. That means if an investor watches the cryptocurrency carefully and times it perfectly, they could gain as much as 110% on their initial investment. Granted, that would take quite a bit of patience, with Goldman acknowledging that “it might take time” to hit $3,915.
If Bitcoin were to hit $3,915, then that would add another $22 billion in market capitalization to cryptocurrency, which is up 53% from Bitcoin’s current market capitalization of $42 billion.
This story originally appeared on Fortune.com. Copyright 2017
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.