MARKET REPORT (FRI, SEPT 7TH, 2018): SLIGHT RECOVERY THANKS TO THE FACT THAT GOLDMAN SACHS DENIED THE LATEST RUMORS

Anh Nguyen
Sep 7, 2018 · 2 min read

Bullish movement on price, 90 out of 100 top cryptocurrencies go up.

Two days after the rumor that Goldman Sachs abandoned its plan to launch a crypto trading desk, Martin Chavez — the bank’s Chief Financial Officer (CFO) — reportedly said that recent reports about the company’s intentions toward a cryptocurrency trading desk are “fake news”.

At the 2018 TechCrunch Disrupt Conference which is held in San Francisco from Sep 5th to 7th, Chavez stated that even though Goldman Sachs has been working on Bitcoin’s over-the-counter derivatives, a reliable custody solution is needed for further activities in this challenging market.

Below we quote what he said to CNBC:

“ Physical bitcoin is something tremendously interesting, and tremendously challenging. From the perspective of custody, we don’t yet see an institutional-grade custodial solution for Bitcoin, we’re interested in having that exist and it’s a long road.”

Following the commentary from Goldman’s official, market sees some bullish movements. Most of the top 100 cryptocurrencies trimmed their losses yesterday with the value-settled-in-USD which increased by as much as 17%.

Infographics on cryptocurrency market by Coin360.io

At the present time, Bitcoin (BTC) and Ethereum (ETH) has gone up 1.37% and 1.53% in the last 24 hours respectively. Elsewhere, IOTA (IOTUSD) gained upto 9.45%, Ripple (XRP) climbed 4.38% and Litecoin (LTC) inched up 3.17%.

According to Coinmarketcap, the total market capitalization has reached $207,330,411,843 — only 25% compared to its record high which was obtained on Jan 8th this year. It’s a quarter of an apple so far!

Written by nami.today

nami.today

blockchain and cryptocurrencies in a nutshell

Anh Nguyen

Written by

nami.today

blockchain and cryptocurrencies in a nutshell

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