That the price of bitcoin would surge above this height was in the cards last week, as was suggested by analysis at the time. Conversely, last week saw some dramatic movements on the price front, with markets dropping below $6,000 only to recover days later. Market commentary throughout the week was led, in part, by speculation around pending futures product launches and interest among institutional investors overall.
Indeed, the move confirms a possibility floated by analysts from investment bank Goldman Sachs earlier this month. The firm's analysts have published several forecasts since earlier this year, notably predicting some of the developments seen over the summer.
It's been bobbing up and down the $8k line for some time now. We have yet to see if a pull back will happen to gain a better momentum upward.
Source: CoinDesk
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