Goldman Sachs (NYSE: GS) technical head Sheba Jafari believes Bitcoin (Bitcoin), which is currently trading near $7,200 a coin, could threaten the $8,000 mark, Business Insider reported.
"Bitcoin exceeded an equality target from the July low at 6,044," Jafari said in a a message sent to the company’s clients.
"This break indicated potential for an impulsive advance, one that could reach at least 7,941. This is the minimum target for a 3rd of 5-waves up and should therefore be a level from which to watch for signs of a consolidation," he wrote.
The cryptocurrency put in an all-time high of $7,592 a coin early Monday after CME Group, one of the largest trading exchanges, announced plans to launch Bitcoin futures trading by year’s end. Bitcoin has gained more than $1,000 since the November 1 announcement.
The gains also come as traders await the implementation of a looming fork in Bitcoin's network.