Bitcoin Falls After Goldman Reportedly Drops Crypto Trading Plans

6 Countries With the Most Bitcoin Hodlers
     
     
       By JP Buntinx

The situation changed dramatically following a report from the Business Insider, suggesting that United States banking giant Goldman Sachs has put on hold plans to open a trading desk for cryptocurrencies.

Last year when Bitcoin dominance was over 50%, conditions of the market were different compare to what is obtained this year.

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He does, however, say that mandatory minimum sentences were at the heart of his decision and regrets Young's sentence. She is trying to convince Trump to feel the same way, to reform legislation so the punishment fits the crime.

Still, Edward Morra, a widely recognized technical analyst in the crypto community, has said that Bitcoin and the rest of the market are still on a clear downtrend. The bank has been considering options to provide crypto trading services since at least late previous year.

The sharp sell-off that gripped cryptocurrency markets on Wednesday has extended into a second day, with major digital assets across the spectrum continuing to fall during trading on Thursday. A spokesperson told in a statement that "at this point, we have not reached a conclusion on the scope of our digital asset offering".

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The study also showed that men are more aware of Bitcoin (BTC) and cryptocurrencies in comparison to women. Having an investment bank with its pull and power was seen by observers as previously handing over its seal of approval, a very valuable imprimatur on cryptocurrency.

A Goldman Sachs spokesman did not directly comment on the report. However, per the sources, the banking giant hasn't abandoned the idea completely, but is rather pushing the possibility lower down on its priorities list and could still move to open the desk at a later date. Additionally, ETH lost most of the gains it had during last years' bull run. Bitcoin found a balance around $6,300 but further declines are imminent unless a support above $6,400 is established in the near-term. From skyrocketing valuations and market caps, cryptocurrencies have come way back down to earth.

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Goldman Sachs had been working on the cryptocurrency trading desk for a number of months, but because it still perceives an ambiguous regulatory atmosphere in the U.S. and its developers say there are many steps yet to be taken to crystalise the project, the firm has chose to put its plans on hold. Ethereum dropped from $283 to $224.72, Bitcoin Cash from $628 to $508.15, and Litecoin from $68 to $56.26. This includes custody service for cryptocurrencies, in which the bank will hold cryptocurrencies and track price changes on behalf of its large fund clients.

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