Goldman Sachs analysts predicted that the price of bitcoin could surge as high as $8,000 in a note distributed to clients earlier this week.
- Following last week's news that the world's largest futures exchange, CME, will launch bitcoin futures by the end of the year, bitcoin climbed to a record high of $7,601.53 over the weekend before dipping below $7,000.
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Goldman Sachs expects bitcoin will hit new records, despite a roughly $600 drop in the digital currency from all-time highs.
Bitcoin has surged more than sevenfold this year. The digital currency hit a record high of $7,601.53 over the weekend before briefly dropping below $7,000 Sunday, according to CoinDesk. Bitcoin was trading around $7,092 Monday afternoon, leaving room for about 12 percent in gains to Jafari's $7,941 level.