Bitcoin Falls After Goldman Reportedly Drops Crypto Trading Plans

Posted September 09, 2018

However, company's top officials also remained sceptical about digital assets.

The news of an all-time shorting high follows an unfavorable week for Ethereum and the entire cryptocurrency market at large.

"In response to client interest in various digital products, we are exploring how best to serve them in the space".

"We have not reached a conclusion on the scope of our digital asset offering", Goldman Sachs.

Etoro market analyst Mati Greenspan observed, "The expectation of adoption by Wall Street has been a major theme for the cryptocurrency market for the past year, so any kind of updates on that may certainly move the prices".

Interestingly enough, men seem to be more aware of digital coins - only 13 percent of men said they have not heard of any kind of cryptocurrency compared to the 27 percent of women providing the same answer. Ether took a ten percent hit, while Bitcoin Cash was down more than 11 percent. IBGX prides itself to be a world-class cryptocurrency exchange, created to bridge the gap between traditional online trading and Crypto investments.

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Reporting from Business Insider claims Goldman has backed out of those plans.

While the decision may dispel users that prioritize anonymity, it may also help ShapeShift attract users that trade larger amounts of funds that tend to prefer regulated venues, said Vijay Ayyar, the Singapore-based head of business development at Luno, a cryptocurrency exchange. The EOS price is down 21% since this time last week. However, a lot can happen in a year, and a lot has. The SEC had already decided against the Winklevoss Bitcoin ETF proposal and things are not looking good for the next ETF waiting approval. Several small U.S. firms reshaped their business models to capitalize on the craze for blockchain technology, which supports cryptocurrency.

However, this time Bitcoin manages to hold its place among the most volatile time of the market and manages to keep the dominance by increasing significantly in short time. In 2017, altcoins like Ethereum, Litecoin and Ripple rode the coattails of Bitcoin and joined the conversation around cryptocurrency.

Bitcoin prices continued to get slammed early Thursday in Asia, following a report that Goldman Sachs was dropping its plans for opening a trading desk for cryptocurrencies.

Since then, Bitcoin prices have struggled, with little success, to go above the United States dollars 11,000 area, and the selling pressure seems to be growing stronger by the day.