Bitcoin (BTC) Saw 3 Losing Sessions Running as of Friday

Bitcoin (BTC) Saw 3 Losing Sessions Running as of Friday

Bitcoin (BTC) Saw 3 Losing Sessions Running as of Friday

$BTCUSD

  • Bitcoin cannot regain losses even after ‘Goldie’ denies calls it’s halting plans to open a crypto trading desk Fake News
  • Digital currency markets saw another losing session, with most major coins in the Red late Friday.

Currently, Bitcoin is trading at 6,447.89, +36.11, or +0.5632%, as of 2:26a BST, the market is open

Bitcoin (BTCO) the world’s largest cryptocurrency, has lost more than 15% since Wednesday, tumbling to a 2-week low of 6,279.08.

The general consensus was a 2 day selloff resulted from a report that Goldman Sachs had put its crypto venture on hold citing regulatory uncertainty. However, late Thursday a senior executive at Goldman Sachs Group debunked the report, calling it Fake News.

“It wasn’t like we announced anything or that anything had changed for us,” said the CFO of Goldman Sachs, at the TechCrunch Disrupt Conference. “I never thought I’d hear myself actually use this term, but I’d really have to describe that as fake news.”

He went on to say that the Wall Street bank was still working on a Bitcoin non-deliverable forward contract.

With Bitcoin unable to rally after Goldman Sachs denied Wednesday’s report, the co-Founder of crypto exchange CoinCorner has floated an alternative theory that the selloff was the result of a single seller, or Bitcoin whale.

The Altcoins

It was a bad day for the Altcoins with most on track to end Friday in the Red too.

Ether ETHUSD, +0.01% is down 3.6% at 216.52

Bitcoin Cash BCHUSD, +0.99% was down 2.2% to 497.20

LitecoinLTCUSD, -0.60% was unchanged at 56.38, and

Ripple’s XRP coinXRPUSD, -0.89% is trading at 29c, down 2%.

Futures couldn’t buck the trend, closing Friday in the Red as well

The Cboe Global Markets Group Inc.’s September contract XBTU8, +0.43% finished down 0.1% at 6,402.50, and

CME Group Inc. September contract BTCU8, +0.08% closed the session down 0.6% at 6,390.

Have a terrific weekend

The following two tabs change content below.

Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

You must be logged in to post comments :  
CONNECT WITH