Is Goldman Sachs out of the cryptocurrency trading desk idea?

Bitcoin Value Drops Sharply, Concerning Investors and Experts

The Bitcoin cost for ETC now, is 0.00181654 BTC.

Bitcoin's drop in price can not be exclusively blamed on investor paranoia. The price is as unstable as always and it can go up or down by 10%-20% in a single day.Bitcoin is an SHA-256 POW coin with 21,000,000 total minable coins. The price started 2018 in the higher $200 range, hitting $283.29 on September 10 previous year.

The Bitcoin price crash was followed by even more significant price drops in other cryptocurrency markets. Ethereum is now trading at its lowest level since August 2017.

Ethereum (ETH)'s price dropped by 12% over the course of the day. No one is quite sure what happened yesterday, and some suspect an ethereum-based ICO might have cashed out.

Of course, one of the most popular theories is that the decline rested with the decision by Goldman Sachs to hold off on a cryptocurrency trading desk.

The Bitcoin price has seriously harmed on Thursday, seen nursing losses of %, this comes after the initial selling being triggered during Wednesday's session. Bitcoin presently has a cap of $112,001,086,461 and its 24 hr volume is about $4,143,049,109. The overall market has lost around 18% of its capitalization in just the half-day after the announcement. The top exchanges swapping the most BCH include Lbank, Okex, Coinex, Binance, and Bitforex.

The highest price seen was $7,591.98 on the OOOBTC exchange at 6:07 am today. The Bitcoin cost for ETH now sits at 0.03388033 BTC.




The announcement had yet another painful effect on the crypto markets, with Bitcoin showing a five percent decline in the last 24 hours, and Ethereum showing nearly 15 percent down. It has caused a drastic sell-off in other cryptocurrencies.

Bitcoin was riding on the wave and news that institutional investors are intending to bring a fresh influx of money into the market.

Despite the lack of rebound, there are many that believe that it is still imminent.

Ether may fall further to a support target of $155 as it faces increasing competition, market volatility and a maturing industry, according to a September 7 forecast from Bloomberg Intelligence commodity strategist Mike McGlone. But over the last 24 hours, the Dollars strength has grown softer and spot gold and cryptocurrency markets could rebound in the short term.

What's Your Thought On This?, Let Us Know In the Comment section Below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice.

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