Bitcoin’s price could be in for a big drop

There are strong indications that the price of the Bitcoin could significantly drop. Fortune, quoting  Goldman Sachs analyst Sheba Jafari, reported that Bitcoin, now priced at $2,568 a piece, could fall as low as $1,857.

It however added that it would bounce to a much higher valuation between $3,212 to $3,915 suggesting that if an investor watches the cryptocurrency carefully and times it perfectly, they could gain as much as 110% on their initial investment. Granted, that would take quite a bit of patience, with Goldman acknowledging that “it might take time” to hit $3,915.

VentureBeat reported that if Bitcoin were to hit $3,915, then that would add another $22 billion in market capitalization to cryptocurrency, which is up 53% from Bitcoin’s current market capitalization of $42 billion.

That comes as the cryptocurrency has fallen from a high of just over $3,000 in mid-June, with investors, including Mark Cuban, warning that Bitcoin’s price has already peaked.