GOLDMAN SACHS: Bitcoin could get close to $8,000

• Jonathan Garber
 

• 23h
• 5,547

A trader looks up at charts on his screen just before the end of trading for the day on the floor of the New York Stock Exchange, November 18, 2013. Lucas Jackson/Reuters

• Bitcoin touched a record high of $7,592 a coin on Monday.
• Goldman Sachs' head of technical analysis says the chart points to a possible run at the $8,000 level.

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Goldman Sachs thinks bitcoin still has more room to run.

The red-hot cryptocurrency, which has gained more than 600% this year and is currently trading near $7,200 a coin, could threaten the $8,000 mark, according to a note sent out to clients on Sunday from Goldman Sachs technical head Sheba Jafari.

"It exceeded an equality target from the July low at 6,044," Jafari wrote. "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."

Goldman Sachs

The cryptocurrency put in an all-time high of $7,592 a coin early Monday as traders continue to pile in following the announcement that CME Group, one of the world's largest exchange groups, was launching bitcoin futures trading by the end of the year. 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. 

Disagreements in the cryptocurrency community over an upgrade known as SegWit2x could split bitcoin into two more cryptocurrencies. Bitcoin has already forked into bitcoin cash and bitcoin gold.

Another fork would double the amount of coins for people who hold them on an exchange or in a wallet backing the fork.  Trevor Koverko, the CEO of Polymath, a cryptocurrency technology company, told Business Insider that folks could be buying in before the fork to get that free cash. 

"Speculation on this free money is driving up the price," he said. "Smart traders are riding the wave and will pull out before the fork."

Get the latest Bitcoin price here.>>

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The best Black Friday deals Amazon shoppers can get starting today

• Connie Chen, Insider Picks
 

• Nov. 4, 2017, 10:26 AM
• 21,244
 

The Insider Picks team writes about stuff we think you'll like. Business Insider has affiliate partnerships so we may get a share of the revenue from your purchase.

Avoid these crowds by shopping Amazon's early Black Friday deals.Gunnar Rathbun/AP

With Halloween behind us and the recent opening of Amazon's Black Friday Deals store, it looks like the holiday shopping season has officially begun.

I'm the type of person who needs to think about and shop for birthday and holiday gifts months in advance or else, sorry about it, you're getting a late gift.

If you're the same way, then you'll appreciate the three-week-early release of thousands of deals across all categories on Amazon.

This will let you take care of all your gift shopping early so you can beat the upcoming rush and actually relax in the days leading up to the holidays. 

Some noteworthy deals include:

• Up to 30% off favorite toys like Tickle Me Elmo, LEGO Creator, and Pokemon plushes
• Up to 22% off Amazon devices and bundles like the Fire TV + Echo Dot and the Echo Plus + Phillips Hue bulb
• Up to 70% off home products like a Utopia Bedding Duvet Cover Set and URPOWER Essential Oil Diffuser
• $70 off the Garmin vívosmart HR Activity Tracker
• $54 off a Lamicall Tablet Stand

Aside from shopping on your desktop or phone browser, you can also voice shop with Alexa or use the Amazon app. A new offering on the Amazon app is AR view, which lets you visualize how an item will look in your space. 

If you're a Prime member, you get to shop the limited-time Lightning Deals 30 minutes early and continue enjoying other benefits like free two-day shipping and access to exclusive private label brands.

If you're not a Prime member, now's the perfect time to start your free 30-day trial — all of its perks will serve you well into Black Friday and the rest of November and December. Remember to check back on the Insider Picks page on Black Friday to see even more great deals across Amazon and beyond. 

Sign up here to start your free 30-day Amazon Prime trial.

Shop all of Amazon's early Black Friday deals here.

If you want to see more from Insider Picks, we're collecting emails for an upcoming newsletter. You'll be the first to hear about the stuff we cover. Click here to sign up .

Disclosure: This post is brought to you by Business Insider's Insider Picks team. We aim to highlight products and services you might find interesting, and if you buy them, we get a small share of the revenue from the sale from our commerce partners. We frequently receive products free of charge from manufacturers to test. This does not drive our decision as to whether or not a product is featured or recommended. We operate independently from our advertising sales team. We welcome your feedback. Have something you think we should know about? Email us at insiderpicks@businessinsider.com.

Read the original article on Insider Picks. Copyright 2017. Follow Insider Picks on Twitter.

MORE FROM INSIDER PICKS:

• The best hotel deals you can get from Hilton’s flash sale
• Grab this Alexa-enabled speaker for only $25 — and more of today's best deals from around the web
• The best sheets you can buy for your bed

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New York Fed President William Dudley to retire early as the Fed overhaul gains steam

• Reuters and Akin Oyedele

• 6h
• 1,403

New York Federal Reserve Bank President William Dudley speaks at a Thomson Reuters newsmaker event in New York. Thomson Reuters

• New York Fed President William Dudley is set to retire in mid-2018, earlier than the end of his term in January 2019.
• The news comes after President Donald Trump named Jerome Powell to succeed Janet Yellen as Fed chair last week.
• Dudley, a former partner at Goldman Sachs, ran the New York Fed's markets group during the depths of the 2008 financial crisis, and was a close Yellen ally.

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One of the Federal Reserve's most influential policymakers, New York Fed President William Dudley, is preparing to retire earlier than planned, further setting the stage for a fresh slate of US central bankers next year.

"For someone who has always had an interest in public policy and service, leading the New York Fed and being a member of the FOMC has been a dream job," Dudley said in a statementMonday.

The news had been reported by several outlets on Sunday.

A search committee led by Sara Horowitz, chair of the New York Fed's Board of Directors, has started the process of finding Dudley's successor. It expects to complete the search by mid-2018. 

Dudley, a former partner at Goldman Sachs Group Inc, ran the New York Fed's markets group during the depths of the financial crisis in late 2008 before taking the helm there in January 2009 for a 10-year term.

He has since steered a cautious and dovish path as vice chair of the Fed's policy-setting committee, and as a close ally of Fed Chair Janet Yellen and her predecessor Ben Bernanke.

Dudley's departure next year would likely come after U.S. President Donald Trump's nominee for chair, Fed Governor Jerome Powell, succeeds Yellen in February. Trump has three other seats to fill on the Fed's powerful Board of Governors, and a fourth if Yellen departs when her term as chair ends, giving the White House an unusually wide window to reshape the central bank.

Unlike governors, presidents of the Fed's 12 district banks are chosen by local boards, though they are approved by the Fed Board in Washington.

Dudley, as head of the New York headquarters, oversaw the Fed's accumulation of some $3.5 trillion in bonds in response to the crisis, as well as its decision to start shedding assets last month. His policy recommendations have proven cognizant of how financial markets were likely to react.

Trump's decision on Thursday not to reappoint Yellen to a second term broke with a decades-long Fed precedent.

SEE ALSO: There's a mystery facing the new Fed chair — and a false step could hurt the economy

DON'T MISS: Jerome Powell's Fed tenure is unlikely to be a smooth sail

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