Crypto Prices Rebound After Global Sell-Off By

Bitcoin and other major cryptocurrency prices rebounded on Frida – Bitcoin and other major cryptocurrency prices rebounded on Friday following a global sell-off amid a report that Goldman Sachs (NYSE:) is reconsidering it plans to set up a crypto trading desk, as it still sees the regulatory environment as ambiguous.

 inched up 0.4% to $6,482.6 at 12:35AM ET (04:35 GMT) on the Bitifinex exchange, while  gained 0.1% to $229.1.  

Meanwhile,  traded at $0.29881, up 4.4% in the last 24 hours on the Poloniex exchange, while  also gained 2.9% to $57.526. 

Major crypto prices were down about 15-25% on Thursday as traders were concerned that the adoption of cryptocurrencies by large institutions may still be some way off.

Citing people familiar with the matter, Business Insider reported that the plan for a crypto trading desk is no longer on its priority list. Instead, the banking giant is now considering other digital-coin services, such as a custody product.

“In response to client interest in various digital products we are exploring how best to serve them in this space,” a spokesman for Goldman Sachs said. “At this point we have not reached a conclusion on the scope of our digital asset offering.”

As alternative currencies have risen in popularity, many Wall Street companies are looking for ways to get into the burgeoning field. But with Bitcoin down almost 70% since its peak of nearly $20,000 in December, that interest is dying down.

In other news, the price of Bitcoin in Iran hit a record high of $24,000 on the Iranian exchange EXIR following news that the Iranian government has agreed to recognize the mining of digital coins as an industry. The Central Bank of Iran is expected to draft a policy framework for cryptocurrencies in the next two weeks. The government hopes the potential use of alternative coins will help smooth trade between Tehran and its partners in the wake of renewed U.S. sanctions.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Be the first to comment

Leave a Reply

Your email address will not be published.