April has marked an important month for major cryptocurrencies, many of which have consistently incurred spikes and price boosts during this time. Bitcoin is currently trading for $9,600.
This is a $100 jump from yesterday and nearly $500 beyond where it was trading at the beginning of the week. Analyst Ken Chigbo says that the currency has incurred spikes – both large and small – over the past five weeks, ultimately rising from about $6,400 to its present state.
That’s a 50 percent price boost in just over a month. A mega challenge lies ahead, however, in the form of $11,700, which Chigbo says will be the next big goal for Bitcoin if and when it spikes beyond the $10,000 mark.
Perhaps the biggest boost to both Bitcoin and its price this week comes from Goldman Sachs. The financial investment firm made headlines after announcing it would develop a Bitcoin futures trading operation, thereby bringing further legitimacy and recognition to the crypto arena.
Goldman is now the first Wall Street trading firm to take such action. Blockchain Capital partner Spencer Bogart says that other Wall Street banks will undoubtedly follow in the institution’s steps. Read more from cryptoslate.com…
thumbnail courtesy of cryptoslate.com