Cryptocurrencies widely plunge after report Goldman is rolling back plans


The hourly dip has lowered the top 100 crypto coins to result in red areas. Of those, 71% recognized Bitcoin, which of course, is the largest cryptocurrency by market capitalization.

Ethereum's price has been on a roller coaster since it began climbing above the $20 range in March of 2017. Bitcoin BTC=BTSP fell almost 5 per cent to touch five-day low at $6,985 on the Luxembourg-based Bitstamp exchange. Up until now, the digital currency was already facing problems with holding the gains on a monthly basis, but now it seems to be dropping by 1 percent on the weekly losses too.

For the time being, Goldman will direct its efforts toward custody services, where it securely holds crypto assets on behalf of its large institutional clients to ensure those assets are kept safe and secure. At the time of press, the ETH is looming at $258, which showcases the 11% dip in the last 24 hours till the press time. Is a Bitcoin ETF really the answer that the crypto market is looking for? The position of bitcoin performs in equivalent to the effects in the market.

Bitcoin price on Thursday is torn apart, an absolute bloodshed, after further selling came through the $7000 mark. The last couple of hours increased BTC by 1 percent which now brings it forward by nearly 54.3% in total. Bitcoin price declined to $45 from $259.34, down 83% in April 2013. Ethereum dropped from $283 to $224.72, Bitcoin Cash from $628 to $508.15, and Litecoin from $68 to $56.26.

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A new study among 1,202 adults revealed that around half of the American millennials are interested in converting to cryptocurrency primarily, as opposed to the USA dollar.

ReddCoin (RDD) is now at $0.00 against the dollar, a 4.00 percent change in the last day.

Since then, Bitcoin prices have struggled, with little success, to go above the United States dollars 11,000 area, and the selling pressure seems to be growing stronger by the day. It was another base-jump of a fall for the most-traded crypto - continuing a pattern that has seen stretches of low-volatility punctuated at seemingly random points by big spikes and dips.

Of the people who believe that cryptocurrencies will become widely accepted, over one-third (36%) say they would be interested in converting to primarily using a cryptocurrency rather than the U.S. dollar. Even though the general view of the current market is a slump, it is showing a dominant side in favor of Bitcoin and not so much for other currencies.