Portfolio company Tradeblock reviews the false rumors that Goldman would abandon its digital currency initiatives, and the impact it may have had on the price of Bitcoin.
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The Goldman Sachs’ Effect: Analyzing the Bitcoin Crash on September 5th
Goldman has been a frequently discussed name in digital currency markets. The Wall Street investment bank was the first of its kind to publicly explore building out an operation linked to the nascent sector. First published by the Wall Street Journal, reports surfaced on October 2, 2017 that the bank was laying the groundwork for the first bitcoin trading desk on Wall Street. After this report, bitcoin prices advanced moderately on October 2nd before paring gains later that week (as shown in figure 1 below).
