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Ethereum Price At 2018 Rock Bottom; What Now?

09 September, 2018, 12:43 | Author: Lawrence Cooper
  • Image courtesy of Ethereum World News archives

The slump was then exacerbated by a Business Insider report that Goldman Sachs has put plans to launch a bitcoin trading desk on hold for the foreseeable future.

Last year when Bitcoin dominance was over 50%, conditions of the market were different compare to what is obtained this year.

Will the crypto market recover any time soon? A spokesperson told in a statement that "at this point, we have not reached a conclusion on the scope of our digital asset offering". As such, in this period, it is more urgent for major cryptocurrencies to remain stable in their low price range for weeks if not months to ensure the market truly bottoms out in the $190 billion to $200 billion range.

The U.S. Securities and Exchange Commission had warned previous year that some of the coins issued in ICOs could be considered securities, meaning trading them would have to comply with federal securities laws.

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

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Interestingly enough, men seem to be more aware of digital coins - only 13 percent of men said they have not heard of any kind of cryptocurrency compared to the 27 percent of women providing the same answer. However, the retreat of Goldman Sachs makes one wonder if the funds will make it to market.

Speculation about Goldman and crypto goes all the way to previous year, when many considered its entrance to be a matter of time. The last time ETH was at a price level below $215 was in August 2017. From skyrocketing valuations and market caps, cryptocurrencies have come way back down to earth.

The CNBC report cited an article in Business Insider, which relied on unnamed "people familiar with the matter".

Surprisingly, the Bitcoin (BTC) is more popular than many of us expected, according to a new study that revealed that 80% of Americans are aware of Bitcoin. Ethereum dropped from $283 to $224.72, Bitcoin Cash from $628 to $508.15, and Litecoin from $68 to $56.26.

This bit of sour news is a bit of an about-face for Goldman as the incoming Chief Executive David Solomon talked about modernizing the Wall Street giant by advancing its bitcoin and cryptocurrency services, but obviously this is up in the air.

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