Bitcoin Forum

Goldman Sachs CFO confirms they are NOT dropping Bitcoin plans: https://cryptocoin.news/news/bitcoin/goldman-sachs-cfo-says-that-they-are-not-dropping-bitcoin-plans-20152/

Thank god they don’t. It’s good they stick up for it!!

That FUD about them backing off did some damage though. It's a great example of how people react to bearish news in a bear market and at the same time how little or no effect have bullish news. You can put some unimportant bearish FUD and people start ripping their hair out, but when this gets busted nothing happens. People who sold are afraid to go back in because what if there's some new FUD and another panic. The strangest part is that people never learn and it will happen again in the next cycle.

Guys, remember that we are on a very manipulated market. There are no regulation laws,and whales are manipulating the price.

For every buy there is a sell.

Hard times, it's not easy to make money. And it's also not easy to invest in a risky market like that.

Gold man Sachs and other institutional investors are probably coming. Bitcoin is a very interesting and uncorrelated asset. That's what they want.

Then they should hurry up for the development as many people have already believed that they will not support Bitcoin anymore in which its created FUD to some possible investors making for the Bitcoin market to slow moving.This is a good news as their stand for Bitcoin is now very clear.

It's not clear to me that the dump happened because of these "Goldman Sachs rejecting bitcoin" news. These were released about the same time that the news of 800,000 BTC moving, which of course started more FUD rumors about being satoshi and whatnot. From what i've seen it's pretty much MtGox wallets related goodness all over again, the same cyclical bullshit to scare newbies which creates a nice straight red candle to pick up some more cheap coins.

Goldman Sach's and co will not fully endorse bitcoin until the price is lower and most people are demoralized (after selling their cheap coins to them). The elite will never fully endorse BTC until you all have sold yours to them at low prices.

Good, I find their transition interesting.

The fact that the more adventurous and possibly smart companies inside the financial system are deciding to transfer some of their operations to Bitcoin is a very good sign for the future of the currency.

They already noticed that we all can win and that it doesn't have to be me vs you anymore if done right.

Same old days, FUD coming in and goes away later. I don't know what to believe anymore but the fact that I am still holding my coins is a reason to believe that there still good things coming in the crypto world. The Goldman Sachs is a big factor in the market, a bad statement from them is like a storm hitting a small boat that is ready to sink anytime.

i disagree with two things.
starting with calling this "bear market". this is no longer a bear market in my opinion, as you can see price is not going lower. it is going "up and down". and this is not what a bear market is. and second is that as it is not a bear market and price is not technically going down, it raises the question that why is it going to $7k then back to $6k and then $7k and $6k again and so on? the answer in my opinion is that there are only certain people (day traders and whales) that are making profit in this small window and the rest are not even in the market anymore.

Goldmans CEO said they are definetly continuing their bitcoin plans. they said it in a interview with tech crunch
at the bottom of this pag is a video of them saying it
https://techcrunch.com/2018/09/06/goldman-cto-the-story-about-us-dropping-bitcoin-trading-was-fake-news/

funny thing is that they said this on the 5/6th of september to correct the fake news previously released that they were dropping it. yet its taken a few days for 'media' to cycle through and publicise the correct information

but in short
goldman is stil involved in bitcoin stuff and will do stuff with it. the misunderstanding between the fake news and the reality is simply that they never set a date for when they will release something related to bitcoin ecosystem that people can use

Financial companies are willing to transfer some of their operations to Bitcoin is a good sign for the currency's future.

Yes i read it too this morning, Sachs is not dropping bitcoin plans nor abandoning their stand on bitcoin services. In fact, Goldman Sachs is planning to launch a new bitcoin derivative (something like bitcoin futures). And this is really a good thing to read.

A lot had already panicked upon hearing such FUD about Goldman and that is really understandable given their positive stand on cryptocurrency. Plans to offer services for bitcoin safekeeping will help the crypto community gain more reliance and trust and ease of mind for investors too. Many knows that Goldman has been closely keeping an eye at cryptocurrency since last year and it can really make a substantial difference to elevate the current market situation.

Let's all hope that they do get regulatory approval as they ready their cryptocurrency team and find apt ways and strategies to minimize the concern on risk and volatility.

they played you

they owned you

The price is going lower, you're not seeing it because the timeframe that you're considering is too short. Our previous low was 6000, then we had nice bull run all the way to 10k and ended up at 5750, which is a lower low. Lower lows and lower highs are a typical indicator of a bear market. Guess what happened after that lower low. Yes, we formed a lower high of 8500. Again, a normal thing for the bear market. The fact that we haven't reached another lower low yet doesn't mean that we won't. We are still trading below the 200 day MA, which is somewhere around 7500 right now. A run to 8k will negate that and that's when I'll stop calling it a bear market.

Knowing that Goldman Sachs is still down for any future bitcoin plans is already a huge help in gaining confidence from the investors and traders. Someone as big as them expressing genuine interest over bitcoin is enough to calm the anxious investors, though the FUD about them abandoning bitcoin kinda hurts the market for a while. Or perhaps this is another ploy for them to generate profits, we'll never know.

At this point, anyone with a serious influence on the global financial scene has the control over the market sentiment, and Goldman Sachs clearly has the spotlight for now.

That actually worries me. If the general public is constantly looking towards these parties for the sole purpose of seeing their capital enter, it more and more looks like we are out to "forget" the main utility of Bitcoin.

I personally don't think the fake news was the reason the market, but even if it was, it would point out that we're heading in the wrong direction. We opened the door for these entities to troll us and we're paying the price for it.

If we have to believe the mainstream media, then we pretty much reached the last stage of retail adoption and institutions for that reason are the only players able to initiate further growth. People really believe that nonsense.

The FUD really caused lots of havoc in the cryptospace. Thank goodness its been refuted and most definitely things should begin to take a new shape henceforth.