Goldman drops bitcoin trading plans for now

Goldman drops bitcoin trading plans for now

But it seems that the opportunity to create a trading market has turned the other way for Goldman Sachs.

"I never thought I would hear myself use this term but I really have to describe that news as fake news".

"In response to client interest in various digital products we are exploring how best to serve them in this space".

For all the recent talk about long-term bullish behavior and bitcoin reaching $10,000 by November, it's becoming clearer and clearer that analysts have no idea what they're talking about, and it's almost impossible to predict where cryptocurrencies will go considering they are all still too vulnerable to outside news and influence.

Buffett said: 'In terms of cryptocurrencies, generally, I can say with nearly certainty that they will come to a bad ending. In June, it was largely speculated that the "other activities" mentioned would mean the firm's entrance into direct cryptocurrency trading for institutional clients.

In December of previous year, Goldman Sachs announced its plans to set up a cryptocurrency trading desk by 2018 and become the first Wall Street giant to get involved with the cryptocurrency-related trading activity.

Mac Miller, rapper and former partner of Ariana Grande, dies aged 26
In a separate tweet, he told his 8.4 million followers, "I just wanna go on tour". " You never told me being rich was so lonely". Rest easy insane kid, ' she wrote on her Instagram story , where the image was posted.

As first reported by Business Insider, the bank is dropping its plan due to an ambiguous regulatory environment with too many steps required to be taken, many of which are outside of the banks control, before a regulated bank could trade cryptocurrencies.

"Maybe someone who was thinking about our activities here got very excited that we would be making markets as principals in physical bitcoin, and as they got into it, they realized that is part of the evolution but it's not here yet".

But as for getting into the trading of actual crypto assets itself, Goldman Sachs may still have a way to go, as its recent backpedaling demonstrates.

Goldman had recruited Justin Schmidt from hedge fund Seven Eight Capital to prepare the bank for transactions involving bitcoin in case of a regulatory green light.

Disclaimer: Our writers' opinions are exclusively their own and do not reflect the opinion of CryptoSlate. This article is strictly for informational purposes only. Buying and trading cryptocurrencies should be considered a high-risk activity.

The crypto-currency has lost two-thirds of its value in the past nine months.

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