Goldman Sachs's Pull Out Of Crypto Desk FAKE NEWS! More News..
Many are blaming Goldmanachs's pull out from Crypto Desk Project and this pay be why we dipped but, according to Goldman's CFO this pull out is FAKE NEWS!
Goldman Sachs Chief Financial Officer (CFO) Martin Chavez said that recent reports about the company abandoning its plans to open a cryptocurrency trading desk are “fake news,” CNBC reported September 6, 2018. Chavez had to laugh as he never thought he would have to use the term "Fake News", check out the article below:
https://cointelegraph.com/news/goldman-sachs-cfo-recent-reports-about-crypto-trading-desk-are-fake-news
The price drop was real, but the news that supposedly caused it was not, we do not know if this caused it or not but it does not really matter anyway, this is short term and I called for this 9 days ago:
https://steemit.com/bitcoin/@embomb701/market-in-the-green-but-don-t-get-too-excited-just-yet-my-prediciton
In my opinion we are going to trade sideways between 6 and 7 thousand until the next SEC ETC decision 9/30/2018, or when BAKKT goes live this November, at which time we will see some life return to the market.
Now there is another interesting story about the Bitcoin ETF potential approval by the SEC. A Pro Bitcoin Republican SEC commissioner was just appointed this past week, more info below:
https://www.trustnodes.com/2018/09/06/bitcoin-etf-chances-increase-republican-sec-commissioner-appointed
Recap With a new SEC Commissioner appointed, Bakkt going live in and Goldman still going ahead with their Crypto desk there was no good reason for the price to drop. Bitcoin and Crypto in general continues to gain adoption and exposure, the fundamentals continue to improve and the uses are limitless! I am still Bullish Long term on Bitcoin but I think the Bulls will be taking over in this 4th quarter of 2018.
I am not a financial advisor and this is not financial advise, invest at your own risk.
Good day Embomb, I really appreciate your efforts to get this information to us.
Thank you.
Please, if it's possible I would like you to explain more about Bitcoin and cryptocurrency.
Thank you I humbly wait in anticipation of your reply.
Good day @stephenugoesq Thanks for reading my friend, start with this article it is really basic and I have a bunch of articles explaining more on Crypto. https://steemit.com/bitcoin/@embomb701/explaining-blockchain-to-your-grandmother
Thanks again. But I have a few questions.
@stephenugoesq, by all means ask away.
Have you heard of WEKUit?
If u have, can u tell me which is much better Steemit or the former.
Thanks
I have heard of WEKUit and we can not compare them yet because they are still a work in progress. But I will say this, being first matters and Steemit is already well established so they are winning adoption. But as I said, we will know more about WEKUit when and if they gain some traction.
Alright I wish I can know more shaa
Thanks so much
They may as well blame the technical analysis at the #cryptopub which saw the correction coming in the charts. There were so many factors that piled onto a natural correction as there have been every time. Like this....https://www.reddit.com/r/Bitcoin/comments/9ceb5v/1b_bitcoins_on_the_move_owner_transfers_100m_to/ and the insight here https://cointelegraph.com/news/why-bitcoin-dropped-by-over-10-percent-deleting-40-billion-from-crypto-market-experts-explain
People are so quick to pinoint this HUGE shift on just one factor and it is so much bigger than one dinosaur or a bunch of ETF bureaucrats.
The hodlers left over from last year are hurting and the folks who wanna get rich quick aren't but I am bullish long term and one of 1000 developments and steps will bring us there slowly.......ups and downs in between.
Many good things to be excited about coming soon. While a agree that over time we will see steady growth, I believe that the ETF will give us another spike like the last one if not bigger.
@embomb701 maybe something will change
I hope so, if not I am in trouble with my wife LMAO.