<BREAKING NEWS> “Due To Popular Demand” Goldman Starts Covering Bitcoin

[Minecache]

This story is just coming in fresh off the wires.

Updates to follow...

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[ktabb]

Like analysts are following it? Have they released any reports? That is pretty interesting...

[HongKong]

This story is just coming in fresh off the wires.

Updates to follow...

Any source?
I am not surprised by them trying to post fud about Bitcoin since they know that the price of Bitcoin is going up. Once there is a bunch of money involved and something is getting more expensive then the large players are really going to being flocking into the thing that they feel is going to make money.

[hendra1988]

Bitcoin prices are now increasingly skyrocketing because the use of Bitcoin growing rapidly. When checking Bitcoin prices, you need to keep in mind that there are no certain global Bitcoin price standards. Bitcoin is not tied to any currency, state, or exchange."Google" exchange rate. The exchange rate displayed by Google and other Bitcoin price providers is an estimate of the average Bitcoin price of a trade that occurs on the international Bitcoin exchange. Google uses the API of Coinbase, which shows the estimated Bitcoin price in US Dollars, regardless of cost. Even if you have US Dollar in your Coinbase account, the price you will pay for a Bitcoin amount may vary from "Google price", depending on cost and other factors. Customers from the countries where we operate usually check Bitcoin prices in their country currency, such as Indonesian rupiah (IDR), South African rand (ZAR), Nigerian naira (NGN) or Malaysian ringgit (MYR).

[LilibethSantos]

This article is probably what OP is talking about: http://www.zerohedge.com/news/2017-06-12/due-popular-demand-goldman-starts-covering-bitcoin

[Wind_FURY]

This article is probably what OP is talking about: http://www.zerohedge.com/news/2017-06-12/due-popular-demand-goldman-starts-covering-bitcoin

If Wall Street starts getting their fingers in Bitcoin then expect everything to go crazier than before. Not only that, they have enough cash to bring every top cryptocurrency so high that we have to make up a new phrase to describe it. "Too the moon" will be an understatement.

[Hydrogen]

Goldman Sachs and the SEC are the same thing.

Expect Goldman Sachs to echo the SEC's push for crypto centralization and regulation with generous amounts of political spin applied to convince the public they're safer staying in fiat because bitcoin is a "bubble".   

[Wind_FURY]

Goldman Sachs and the SEC are the same thing.

Expect Goldman Sachs to echo the SEC's push for crypto centralization and regulation with generous amounts of political spin applied to convince the public they're safer staying in fiat because bitcoin is a "bubble".   

That would be a good time for Bitcoin to show its resiliency. If the SEC and all the bankers dare to try to stop it, we all know they will not be successful. The network was designed to be above any regulations and there is nothing they can do about it.

Sorry SEC, but Satoshi - 1, SEC/Banks - 0.

Do I think BTC will replace fiat? No. But its existence is still a win.

[HabBear]

I don't think this is as exciting news as it sounds.

Goldman has been talking about Bitcoin since at least 2014. They've declared it isn't a currency (because they want the market to view it as an investment only). They've invested in Bitcoin directly (and have had no problem releasing press about such transactions). Now they want to formalize something - watching the bitcoin market - that they've been doing for at least 3 years.

The next step is to have their analyst covering bitcoin release research reports. Hopefully they can inject some formal technical analysis into our world, we'd all benefit from that. Global fundamental coverage would be solid and valuable.

2014: GS declares Bitcoin "not a currency"

2015: GS invests $50m in Circle

Date Unknown: GS announces research on the Blockchain

[Kakmakr]

I don't think this is as exciting news as it sounds.

Goldman has been talking about Bitcoin since at least 2014. They've declared it isn't a currency (because they want the market to view it as an investment only). They've invested in Bitcoin directly (and have had no problem releasing press about such transactions). Now they want to formalize something - watching the bitcoin market - that they've been doing for at least 3 years.

The next step is to have their analyst covering bitcoin release research reports. Hopefully they can inject some formal technical analysis into our world, we'd all benefit from that. Global fundamental coverage would be solid and valuable.

2014: GS declares Bitcoin "not a currency"

2015: GS invests $50m in Circle

Date Unknown: GS announces research on the Blockchain

The investment in Circle was just a Bait&switch move to attract more customers. Circle was the vehicle they used to fool Bitcoiners into signing up for their services. Once they built up a good client base, they changed their whole financial model and went back to a fiat based model and dumping support for Bitcoin. These bankers are very cunning and I will not support anything where they are involved. So, if they decide to support Bitcoin in any way or form, the red flags should go up. ^grrrrrrrrr^

[mkc]

We should keep an eye if GS will create any sort of Bitcoin future. A popular gold bug theory is that Gold future trades 1000 times of real gold. That suppress the demand because it create virtual gold. Bitcoin has 21m supply, that is it. Creepy GS may create 210 million bitcoin futures, that will be one thing to look out for.

[Boseda]

Goldman Sachs and the SEC are the same thing.

Expect Goldman Sachs to echo the SEC's push for crypto centralization and regulation with generous amounts of political spin applied to convince the public they're safer staying in fiat because bitcoin is a "bubble".   

That would be a good time for Bitcoin to show its resiliency. If the SEC and all the bankers dare to try to stop it, we all know they will not be successful. The network was designed to be above any regulations and there is nothing they can do about it.

Sorry SEC, but Satoshi - 1, SEC/Banks - 0.

Do I think BTC will replace fiat? No. But its existence is still a win.

No, man. They don't even try to stop Bitcoin anymore. Because most people, even here on bitcointalk, consider Bitcoin just an asset and not a currency. So banks, SEC, governments, etc. they all have no reason to be afraid...

[mmhaimhai]

I Wont be surprise if one day almost all big organizations would be into bitcoins world specially now that btc price is got much higher and keeps progressing as time passes.

[NorrisK]

Please stop all the breaking news clickbaits you are posting.

A simple article showing some TA by Goldman is hardly breaking news.

I just hope traders are not turning bearish simply because of news like this.

[aoluain]

Goldman Sachs and the SEC are the same thing.

Expect Goldman Sachs to echo the SEC's push for crypto centralization and regulation with generous amounts of political spin applied to convince the public they're safer staying in fiat because bitcoin is a "bubble".   

That would be a good time for Bitcoin to show its resiliency. If the SEC and all the bankers dare to try to stop it, we all know they will not be successful. The network was designed to be above any regulations and there is nothing they can do about it.

Sorry SEC, but Satoshi - 1, SEC/Banks - 0.

Do I think BTC will replace fiat? No. But its existence is still a win.

No, man. They don't even try to stop Bitcoin anymore. Because most people, even here on bitcointalk, consider Bitcoin just an asset and not a currency. So banks, SEC, governments, etc. they all have no reason to be afraid...

yea I agree most people consider bitcoin as an asset
purely to trade and make money, lets face it its human nature
but yes I think this news will see more profit hunters entering the market.

what will the negative effects be?

[xskl0]

I tought this bank was going to fought Bitcoin. Isn't Bitcoin the bank killer? I know Banks can still lending money but c'mon
If they want to make Bitcoin look like just and investment, they will fail because this august Kim Dotcom will bring microtransactions of bitcoins to millions.

[Wind_FURY]

Goldman Sachs and the SEC are the same thing.

Expect Goldman Sachs to echo the SEC's push for crypto centralization and regulation with generous amounts of political spin applied to convince the public they're safer staying in fiat because bitcoin is a "bubble".  

That would be a good time for Bitcoin to show its resiliency. If the SEC and all the bankers dare to try to stop it, we all know they will not be successful. The network was designed to be above any regulations and there is nothing they can do about it.

Sorry SEC, but Satoshi - 1, SEC/Banks - 0.

Do I think BTC will replace fiat? No. But its existence is still a win.

No, man. They don't even try to stop Bitcoin anymore. Because most people, even here on bitcointalk, consider Bitcoin just an asset and not a currency. So banks, SEC, governments, etc. they all have no reason to be afraid...

Try telling that to the merchants and the users in the dark markets. That is where all the real activity of Bitcoin is, not here in the forum.

And I did not say the SEC should be afraid of Bitcoin, what I said was they could not stop it.