GOLDMAN SACHS: Bitcoin $4,000
Bitcoin had a blistering first half of 2017. It rallied from about $1,000 a coin to a record high near $3,000 before finishing June near $2,500. It booked a first-half gain of about 168%.
The historic run for the cryptocurrency has prompted observers both in the tech world and on Wall Street to talk about the cryptocurrency being in a “bubble.”
Last week, Jeffrey Kleintop, the chief global investment strategist at Charles Schwab, suggested bitcoin was in a bubble unlike any we had ever seen before. Kleintop’s warning came just a few weeks after tech billionaire Mark Cuban tweeted: “I think it’s in a bubble. I just don’t know when or how much it corrects.