RATE Group | Bitcoin Should Trend Higher For The Rest Of The Year, But Don’t Expect It To Exceed $8,5…
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Bitcoin Should Trend Higher For The Rest Of The Year, But Don’t Expect It To Exceed $8,5…

13 Sep Bitcoin Should Trend Higher For The Rest Of The Year, But Don’t Expect It To Exceed $8,5…

Posted at 16:56h in Bitcoin News by

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Bitfarms signage sits on display next to racks of cryptocurrency mining rig components at the company’s technology lab in Saint-Jean-sur-Richelieu, Quebec, Canada. Photographer: James MacDonald/Bloomberg

The first week of September turned out to be a bad week for cryptocurrencies in general, with reports of Goldman delaying plans for its proposed cryptocurrency trading desk hurting investor sentiments. The news sent Bitcoin prices plummeting – erasing the strong gains the cryptocurrency witnessed over the first few days of the month. Bitcoin is currently priced below $6,300, which is around the levels at which it traded for most of August.

While Bitcoin is no stranger to extreme volatility, the latest sell-off seems to have been overdone. We believe that Goldman’s decision is just a hiccup in cryptocurrencies’ path to mainstream adoption; ongoing efforts by a wide range of big and small companies across industries to incorporate blockchain…

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