[2018-1-4] Goldman Sachs to enter the cryptocurrency market

[DowBit]

After 2017’s immense growth in the cryptocurrency market, there’s more to come this year. While it’s impossible to predict industry growth, greater adoption, technological advancements, and discourse are likely.

While some remain skeptical about the industry, others embrace the revolution or, at least approach it cautiously. With the advent of Bitcoin futures and their appearance on the market – introduced by CBOE and CME and plans to appear on NASDAQ itself, other companies are looking into possibilities of tapping into the almost $650 billion market.

Last year we reported that two other companies were considering getting into the futures market. One was JPMorgan and the other was Goldman Sachs. Goldman announced plans to allow some select clients to invest in Bitcoin Futures.

More: https://dowbit.com/goldman-sachs-crypto-market/

[AK47-]

As good as that is for crypto community and BTC. Goldman Sachs is not what we are likened to think it is. It's returns are down by 36% compared to the top 4 banks. Competitors view it with mediocrity not awe. So, the image we have that Goldman alumni run the world is not that true. But on the bright side Goldman has a business problem not an image problem. It still will be immensely beneficial to get everyone's trust in crypto currency. Although, JP Morgan is whole different animal.

[veleten]

positive news are to drive the price up
Goldman Sachs is one of the largest investment companies
if they even declare their intentions to suggest their clients to invest into bitcoins,they are doing a favor
to themselves and the market,I also noticed a good deal of positive news as soon as the market slumped
IMHO-it is not random at all,but higher price is better for adoption as it gets bitcoins on the news

[1Referee]

Domino effect. It definitely will result in more wall street entities to follow, especially if they find out how much money there is to be made in a booming new market. We don't have to forget that most of these wall street entities were major skeptics before the major recent growth, and this isn't all that long ago. It's a positive shift, that will even get JPMorgan to take a drive into the Bitcoin sea. I can't even imagine how much demand there is from wealthy individuals to invest in Bitcoin, but these banks don't allow them to benefit from the major crypto growth. It must sting that you see a bank playing around with your money on the financial market will only yield you a mere 3-5% annually, while Bitcoin has been up nearly 2000% last year.