When Donald Trump’s former adviser, Steve Bannon, praised Bitcoin last year as “disruptive populism” and revealed he was working on his own cryptocurrency, it was evidence of something many people had long suspected.
In a packet of slides sent to clients yesterday, Goldman Sachs Group technical analyst Sheba Jafari said that Bitcoin could go up by 23% in the short term, and that later the coin could go even higher. That doesn’t mean the bank is bullish on Bitcoin, though.
Bitcoin breached $10 000 for the first time in about 15 months, recouping more than half of the parabolic increase that introduced mainstream investors to the digital asset before the bursting of the cryptocurrency bubble.
Bitcoin climbed past $9,000, to its highest since May 2018, as reports that Facebook is due to unveil a digital currency added to optimism that cryptocurrencies are becoming more widely adopted by mainstream finance
The idea that a company as powerful and autocratic as Facebook would ever dive into crypto-currencies has always seemed a bit like the Death Star deciding to throw a staff Christmas party, says Lionel Laurent.