Significant fall in value of cryptographic currency due to failure of the Goldman Sachs crypto trading platform

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Goldman Sachs worked on a trading platform for cryptographic currency. But now it has been decided not to do so. The result is a dive for the value of the most important virtual coins. The decline in value is very variable: the bitcoin lost 12 percent, while ethereum lost almost 20 percent.

Goldman Sachs originally planned to set up a trading desk. That would have been a nice event for cryptic currency, because traditional investors are still staying away from it because of persistent scepticism. If Goldman Sachs had released his platform, it would have been a good sign for the market.

No crypto fair

It was not entirely clear which cryptographic currency Goldman Sachs intended to support, but at least it would look at bitcoin. A spokesman for Sachs stated to Reuters that no conclusion has yet been drawn about the extent of our digital offering.

But the story of Business Insider, which reports from internal sources that Goldman Sachs has decided not to board the thunderous crypto train for the time being, at least indicates that they are not ready for it yet. At a later stage, the choice could still be made to launch the platform, but too many factors are still beyond the bank’s reach.

The result of the decision is a significant fall in the value of most cryptic currencies. Bitcoin has delivered 12.27 percent in the past twenty-four hours. Ethereum stands at 18.59 percent in the minus, XRP at 12.03 percent in the minus and bitcoin cash at a 19.82 percent decrease in value.

This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.