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When Goldman Talks, Cryptocurrency Investors Listen
by Howard Haykin
On Thursday morning, Goldman Sachs announced that it was dropping near-term plans to open a trading desk for cryptocurrencies. The reason - the ambiguous regulatory environment. Within 10 minutes, the crytopcurrency markets were in turmoil. Bitcoin fell more than 3%, while Ethereum dropped by as much as 12%.
Over the past year, Goldman Sachs has been considering the launch of a new trading operation focused on digital currencies. Yet, executives concluded that many steps still need to be taken (mostly outside of the bank's control) before a regulated bank would be allowed to trade cryptocurrencies – that, according to BusinessInsider.
As of late Thursday afternoon, the cryptocurrency markets remained unsettled. Here's how the markets performed over the past 24 hours:
Prices as of 4:20 a.m. (ET), Thursday - 9/5/18 - keep in mind that prices are in constant fluctuation.
|
Name |
Price |
24-Hour % Change |
Market Cap |
|
Bitcoin (BTC)
|
$6,948 |
- 5.6% |
$120 Bn |
|
Ethereum (ETH)
|
$ 246 |
- 13.9% |
$ 25 Bn |
|
Ripple (XRP)
|
$ 0.29 |
- 11.3% |
$ 12 Bn |
|
Bitcoin Cash (BCH)
|
$ 542 |
- 13.7% |
$ 9 Bn |
|
Stellar (XLM)
|
$ 0.21 |
- 8.3% |
$ 4.0 Bn |
|
EOS (EOS)
|
$ 5.43 |
- 16.4% |
$ 4.9 Bn |
|
Litecoin (LTC)
|
$ 60 |
- 11.2% |
$ 3.5 Bn |
For current prices of all Cryptocurrencies, click on CoinMarketCap.com.
