Goldman Sachs Has Dropped Plans for Crypto Trading Desk

Goldman Sachs Has Dropped Plans for Crypto Trading Desk

Goldman Sachs Has Dropped Plans for Crypto Trading Desk

Back in October of 2017, reports suggested it was studying cryptocurrencies through with a group of employees, and in December it was claimed a bitcoin trading desk would be ready in June. From Goldman Sachs delaying its trading desk, delay of Bitcoin ETF, China FUD, and India's ban - Nothing has full control on the crypto industry, and has nothing to do with the sharp decline of BTC, ETH or any of your crypto. In May, the NYTimes reported Goldman Sachs was waiting for regulatory approval while figuring out how to deal with holding cryptocurrencies in a safe way. The losses were tied to a reports that Goldman Sachs is abandoning its plan to open a cryptocurrency trading desk. The currency's market capitalization at the starting of the day was $127 Billion - but it dropped to a low of $120 Billion post that. "At this point, we have not reached a conclusion on the scope of our digital asset offering", a spokesperson for Goldman reportedly told Business Insider. Clearly, though, the regulatory landscape is far from ideal.

Bytecoin can be traded on these cryptocurrency exchanges: cfinex, Coindeal, TradeOgre, Poloniex, Crex24, Binance, Stocks.Exchange, HitBTC and OKEx.

So as the old saying goes, "slow and steady wins the race", as it has become clear that many analysts expect crypto assets to not only survive but thrive in the roughest of waves. Arthur revealed the ICO investments originate from VCs that will discard their Ether in response to the market.

On Sept. 6, the crypto market lost nearly $40 billion from its valuation in under 24 hours, exhibiting one of the steepest decreases in the previous three years.

Trump Ready to Tax an Additional $267B in Chinese Imports
Jobless claims, a proxy for layoffs, also hit a 49-year low. "(Our) asks have not been satisfied", he said. The U.S. imported US$505 billion of Chinese products in 2017, Census Bureau figures show.

Bitcoin and cryptocurrency prices have long resembled a roller-coaster ride, but the current downturn has wiped out all price gains obtained over the last month and may indicate the onset of a new bear run. This downfall may continue until BTC prices hit support levels; some of which are as low as $6000. This chart shows another drop forthcoming, even after a correction upward of the drop from the Goldman news.

Prior to the negative development triggered by the news on Wednesday, Bitcoin was on the way to breaching the $7,500 barrier after swinging between $6,000 and $7,000 for weeks.

A recent market study among 1,202 adults, conducted by the research firm YouGov, revealed that nearly half of the American millennials are ready to ditch the USA dollar and use cryptocurrency instead. Traders can then make use of this Bitcoin or Ethereum to pay for Gas using one of the exchanges stated previously.

The design has taken a much cleaner, flatlay and minimalist approach, as we see Litecoin.com being more of a canvas for content, therefore structure was very important when considering future growth and listings to the site.

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