Goldman Sachs’ chart analyst, Sheba Jafari, published a report on Bitcoin on Sunday. The report stated that Bitcoin could reach $4,827 (INR 3,10,000 aprox) , i.e. about $500 more than the record high of $4,300. (Read our report on this). Bitcoin price has been on the run since a week which has been triggered by various factors. Our detailed report on the factors contributing to the rally is available here.

As per the report, once Bitcoin hits that level, Jafari estimates it could drop as far as $2,221. That will be a correction of around 60% from the high price.

Bitcoin has been surging since several days now and a correction, if any, could lead to a massive sell off. Investors are advised extreme caution while trading in Bitcoins.

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