⭐ Binance is the world's leading crypto exchange! Binance is the world's leading crypto exchange!

After a successful week filled with positive news and record high prices, bitcoin shortly dropped today under $7,000. Bitcoin bounced back and is currently sitting comfortably at $7,230.

Sheba Jafari, vice president of Goldman Sachs’ FICC Market Strats team, reveals in the Sunday note that bitcoin could hit $7,941 and consolidate before continuing higher.

The recent rally was fueled by an increase in Korean and Japanese demand. Different news portals reported that Japanese yen represents 60% of all bitcoin trades, followed by US dollar (25%), South Korean Won (9%), and Euro (3.3%).

It seems impossible, but Bitcoin started the year with a price tag of under $1,000.