Bitcoin: down at $40,000; more losses ahead?
The main digital coin erased all the gains done after Elon Musk's February announcement. What are we heading into?
Bitcoin declines on Goldman Sachs’ remark
On Friday, Bitcoin managed to gain ground, although it was still in the red because Goldman Sachs debunked reports that it had left its crypto trading desk intact.
On the Bitfinex exchange, Bitcoin headed south to $6,441.10.
Crypto assets in general ascended, with the crypto market cap of the overall market capitalization hitting $202 billion in contrast with Wednesday’s outcome of $239 billion.
The number two crypto alternative by market cap, Ethereum headed south by 4.16% coming up with an outcome of $220.59. In addition to this, the number three digital coin by market cap, XRP managed to gain 0.76% demonstrating $0.29166. Litecoin came up with a reading of $56.22, jumping by 0.14%.
On Friday, Marty Chavez, Goldman Sachs Chief Financial Officer told that the financial giant had gave up an idea to have a bitcoin trading desk launched.
Delivering a speech at a TechCrunch Disrupt conference, Marty Chavez told that the company is currently concerned with finding new ways to offer the most popular crypto coin, including even non-deliverable forwards.
Marty told that these happen to be derivatives over the counter derivatives, and they’re going to be settled exactly in American dollars, while the reference price will be set by several crypto exchanges. It will be the same as what’s actually referenced in the futures contracts. The representative added that the company is currently working on what many folks want to be real – physical Bitcoin.
According to some sources, Goldman Sachs postponed its plans to have a trading desk started because of the regulatory fears. Instead, the company would concentrate on other projects, including holding crypto assets on behalf of large fund customers. However, the company added that it might get back to the idea of a trading desk later.
As a matter of fact, Bitcoin sank to $6,375.10 after the news.
Similar
Ethereum: faster than Bitcoin
Ethereum crossed $3000 recently and is aiming at $3500 already. Is it taking over Bitcoin's place?
Grandfather of crypto falls below the $8,000 level after consolidation
Bears finally took over the cryptomarket and pulled the price for BTC down.
Latest news
What will move the markets on September 20-24
Quadruple witching is gone and now there are no reasons for the market to hinder. From banks statements and economic data to gas storage reading and Fed’s Powell speech – get ready for active trading.
Strong US Retail Sales Pressed Gold
The US showed strong retail sales for August despite the spread of the Delta virus strain. As a result, the US dollar rocketed and gold dropped by 2286 points in half an hour after the release.
What to expect from Monthly Retail Sales data?
The United States will release MoM Retail Sales data on September 16, 15:30 GMT+3.
Deposit with your local payment systems
