Over the past 24 hours, the Bitcoin Dominance Index reached its highest point since December last year. Because altcoin losses were much more significant than Bitcoin's losses over the past few days, the index rose from 51% to 55%.
The total capitalization of the cryptocurrency market is still above $200 billion, but Bitcoin and altcoins are still falling in price. At the moment, the price of Bitcoin is $6,425 with weak support.
According to CCN, Goldman Sachs, one of the largest investment banks in the United States, postponed the creation of a bitcoin trading platform indefinitely. "It is clear that Goldman Sachs' announcement had no impact on the short-term price of BTC. However, such an announcement may seem like a negative development for the cryptocurrency sector," the report stated.
An hour after the report was released, Martin Chavez, Chief Financial Officer of Goldman Sachs officially denied informationthat the bank abandoned the idea of a crypto trading platform, calling these reports fake news.
"I think it's great that there's a lot of coverage about us. At the same time, I never thought I'd use that term, but I would describe these reports as 'fake news,'" Chavez said at the TechCrunch conference.
If the Goldman Sachs story had caused the price of Bitcoin to fall from $7,400 to $6,400, refuting it should have led to the price rebounding. But nothing like this is happening yet.
The other thing is interesting: who and why started the canard about canceling the launch of the site?
What awaits Bitcoin?
If Bitcoin fails to break through the resistance level of $7,000 in the next two days, it is likely that it will soon test the $6,000 levels again, as already happened in April, June and August. The fall in the price of Bitcoin will not necessarily become a negative phenomenon, since this will not happen. will help prepare for medium-term growth in the coming months.
Due to low trading volumes and increasing activity in Tether (USDT), tokens and cryptocurrencies with low market caps will fall lower against Bitcoin and the US dollar. There will be a natural selection where the strongest will survive.
According to ccn.com
You May Also Like
Head of Monobank: Bitcoin will reach $100,000
The co-founder of monobank invests in Bitcoin and expects a new historical record by the end of the year.
The US government pension fund invested in Bitcoin
The Houston Firefighters' Retirement Fund (HFRRF) has moved part of its portfolio into Bitcoin and Ethereum. Institutions are confident that the rise in the price of crypto assets is not over, so such an investment will bring good interest.
