RBC Capital: the Decision of Goldman Sachs is no reason to talk about the loss of wall street interest in bitcoin

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RBC Capital: the Decision of Goldman Sachs is no reason to talk about the loss of wall street interest in bitcoin

Goldman Sachs — of course, a major player, but his decision to postpone the start of trading cryptocurrency is not the solution to the market as a whole.

That opinion has been shared at RBC Capital Mitch Steves. “I do not think that the decision of Goldman Sachs — a really alarming signal for investors. Those institutional investors that I talk to, the last five years, still very interested in bitcoin and cryptocurrencies” — he said.

In his opinion, the decision of Goldman Sachs because the company has not decided to offer this category of investors, has not found the investment instruments that they would have considered simple and straightforward. “They invested in a Circle, Coinbase competitor, thus obtaining access to retail investors, trading… but institutionally not so simple. I think they have now decided to wait for the launch of a bitcoin ETF,” said Steves.

The expert also stated that it did not waive its previous forecast of growth of an ecosystem of bitcoin to reach $1 trillion, but said that it is not about short-term prognosis. “Since we’re talking about major investors, wall street, the planning horizon of 10-15 years”, — he added.

Thus, if we talk about the short term, the key milestones in the next 6-9 months, according to analysts, there will be two events.

“There are two things that we expect: first, it is launching a bitcoin ETF, said Steves. — And secondly, cryptoforge, raised money at the peak of bitcoins will begin to close. Event negative, but it just has to happen.”

Meanwhile, in the second half of day on Thursday the exchange rate of bitcoin has decreased over the day by 8.46%, according to Coinmarketcap, the cryptocurrency No. 1 trading at levels around $6430.

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