Bitcoin gains more than 2%, is the rally over yet?

The BTC/USD pair advanced to 2,560 on Monday, recording a daily gain of 2.5%, after Goldman Sachs suggested that the pair could go as high as 3,915 in a recent report.

"The market is in wave four of a sequence that started in the late-'10/early-'11 lows," Sheba Jafari, a chart analyst at Goldman Sachs, wrote on Sunday. 

"From current levels, this has a minimum target that goes out to 3,212 and there's potential to extend as far as 3,915 (if 1.618 times the length of wave I). It just might take time to get there," added Jafari.

On other news, commenting on a recent report titled “Japan: Inbound Tax Alert, 2017 Tax Reform Proposals,”  Deloitte Touche, a leading financial advisory service provider said: "The sale of virtual currency as defined under the new Fund Settlement Law will be exempt from JCT (Japanese Consumption Tax). This change will apply to sales/purchase transactions performed in Japan on or after 1 July 2017." This recent development is expected to further increase the demand for the digital currency.