Goldman Sachs abandons its plans on bitcoin

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On Wednesday there appeared information about the fact that Goldman Sachs Group Inc. abandoned plans to create a cryptocurrency trading platform.

The plan, first announced in may, Goldman Sachs assumed with the creation of a Bank of cryptocurrency trading division.

Despite the fact that the list of supported scriptaction was unclear, it was assumed that the company will offer institutional support cryptocurrency hedge funds, and futures contracts for bitcoin CME Group Inc. and Cboe Global Markets Inc.

“Business Insider” has rejected this news,because according to his sources, the Bank has abandoned its plans due to concerns related to regulatory uncertainty. Reportedly, the executives came to the conclusion, before the Bank will be able to trade cryptocurrencies, they have to go through many steps, most of which are beyond the control of the Bank.

Goldman Sachs has officially neither confirmed nor denied the information. The press Secretary told Reuters:

“At the moment we have not concluded on the extent of implementation of digital assets.”

A significant number of cryptocurrency enthusiasts were convinced that the launch of the Goldman Sachs trading platform will trigger a higher demand for bitcoin and other cryptocurrencies with institutional investors, thereby raising prices.

Now some of these speculators say that this news has had a significant impact on the cryptocurrency market. At the time of this writing, Bitcoin is trading at a price of $ 6454, 75, compared with $7 378,78 to the news release. Ethereum has fallen from $ 283 to $ 224,72, Bitcoin Cash from $ 628 to $ 508,15 and Litecoin from $ 68 to $ 56,26.

Bitcoin has long been reminiscent of a roller-coaster ride, but the current recession has destroyed all price gains achieved over the past month and may indicate the beginning of a new downside rally.

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