Bitcoin price could experience a 47 percent price correction at $2,800 one bitcoin analyst predicted after witnessing a record $2,791.70 high Thursday, according to an analyst. The correction will only be temporary, said analyst Nicola Duke of Forex Analytix speaking to CNBC, who predicted the price will continue its upward movement through 2018.
Bitcoin’s price is at $2,473 at press time, giving it a market cap of $40.4 billion, according to data from CoinMarketCap.
Possible price corrections notwithstanding, the number of investors betting on bitcoin to climb higher has jumped 18.2%. Those taking short positions have fallen 10% since early this week. Investors are getting more bullish, according to the Bitfinex exchange.