Bitcoin underwent a mini flash crash on Wednesday as its price fell from $59,400 to nearly $57,000 in just five minutes of trading. Analysts blamed overleveraged long positions for the downside move, with the plunge liquidating about $600 million worth of extended bullish contracts across major futures exchanges. The wipeout followed up with a short…
The crypto market is one of the best-performing markets in 2020. Year to date, the market capitalization of all digital assets is up by approximately 80%. Bitcoin alone is up 65%. According to Goldman Sachs’ new head of digital assets, Mathew McDermott, the rally is materializing in a resurgence in institutional interest in crypto. He…
Like other markets, Bitcoin has been hard over the past few weeks. From the $10,500 high established in February, BTC has fallen by 41%, now trading at $6,200 as of the time of this article’s writing.Despite this downturn, a prominent macro analyst expects the cryptocurrency to soon rally above its previous all-time high.BTC Price to…
Over the past few months, analysts across the board — from Bitcoin (BTC) lovers to Wall Street’s bulls — have been charting an impending recession. This has left many investors with one pressing question: what should they buy to hedge their risk? According to one prominent economist and former Wall Streeter, Bitcoin is one of…
The viability of Bitcoin (BTC) and crypto assets in today’s ever-changing economy continues to swell, according to a former Goldman Sachs executive. Related Reading: Is the Declining Global Economy Growth Fueling the Stunning Rally of Bitcoin? Bitcoin and Crypto Just Make Sense Legendary Bitcoin-centric podcaster Stephan Livera recently brought on Raoul Pal, a crypto-curious former…
Goldman Sachs Group is interested in exploring the possibilities of launching a crypto asset like bitcoin, according to the bank’s chief executive officer David Solomon. The prominent investment banker told France’s Les Echos newspaper that Goldman is conducting thorough research on tokenization, the method of digitizing currencies or assets to enable their smooth transfer over…
Although many are enamored with bashing the colloquial term “BUIDL,” for many Bitcoin diehards, 2018’s crypto market lull has been a time to unironically bolster this industry’s underlying infrastructure. This isn’t just hearsay, as 2018 has arguably been crypto’s strongest year yet, in terms of promising products, platforms, and startups, rather than day-to-day price action. Some…
Holding onto and storing digital assets for clients has become one of the key criteria in offering crypto services, at least according to Goldman Sachs. The Wall Street banking giant said that it is not any closer to offering cryptocurrency products amid this year’s bear market according to Bloomberg. The bank’s head of digital asset…
Although relative non-action in crypto markets has continued, with prices stagnating en-masse, prominent institutions, such as Goldman Sachs and Tiger Global, still seem ready to pounce on what this nascent industry has to offer. Goldman Sachs Onboards Exclusive Investors For Bitcoin Products Per an insider scoop from The Block, Wall Street’s golden child, Goldman Sachs,…
To say that these past seven days were bullish for crypto would likely be an understatement. Fidelity and Goldman Sachs, two prominent Wall Street giants, doubled-down on their cryptocurrency efforts, while already-established companies in this industry continued their unbridled expansion efforts. But, if the crypto industry had a bullish week, why didn’t prices react positively? Well,…