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As we all know, this year has not been a very good year for crypto-coins: about $ 700 billion has been removed from the market, leaving a trail of destruction among start-ups.
Bitcoin, the most famous crypto, was worth $ 3,000, well below the peak reached in 2017 with $ 20,000 and well below its $ 6,000 floor. And now, the big Wall Street companies, which were preparing to enter the crypto-coin market – especially the future bitcoin market – seem to be holding back the initiative after the sharp fall in prices suffered during the year. Year • November would be bad for bitcoins and other cryptomedas
• Facebook would work on a cryptomoeda for transfers in WhatsApp second report this Sunday (23) from Bloomberg .
A group of large corporations, including Goldman Sachs, Morgan Stanley, Citigroup and Barclays (London), delayed the project to launch bitcoin-related financial services, according to Bloomberg . Goldman, who "was among the first to create a bitcoin futures market," was preparing a trading desk and "bitcoin derivatives called NDF (undeliverable futures)". The NDF product has, however, generated little interest for the company:
The bank should still offer crypto-trading and had little success with its NDF product, having only registered 20 customers, according to people familiar with the subject. Justin Schmidt, who was hired to lead the digital badet industry, said last month at an industry conference that regulators were limiting what could be done. In addition, Goldman plans to add digital badet experts to its main brokerage division, the source said.
Sources told Bloomberg that Morgan Stanley "was technically ready to offer trade monitoring."
Citigroup also did not trade any of its cryptographic derivative products "within existing regulatory frameworks, according to a person with branch knowledge" instead of performing proxy operations. Barclays lost two leaders who had been hired to exploit the industry and the bank always told Bloomberg that she had no plans to launch a criptomoeda bargaining table .
All this prudence is linked to the great devaluation of currencies. However, according to the report of Bloomberg
as stated by the American publication, which really believes in cryptomedas, the lack of regulation and a series of investigations and crimes of the sector are also in the news. origin of this situation. is based on the fact that large financial institutions are creating the necessary infrastructure to penetrate this market (which could help save the price of large crypto-currencies such as bitcoin). Some industry websites said that the sharp drop in prices was an opportunity that should reduce the scam market, in addition to reducing price volatility. :
Even after the astonishing sale of digital badets in 2018 – a year after bitcoin reached $ 20,000 and is now trading at $ 4,000 – industry professionals see signs
"The most important story is that any infrastructure under construction will now allow transactions between institutions," said Ben Sebley, a trainer at Credit Suisse Group. AG and now chief of the brokerage firm of the NKB group.
Even after the $ 700 billion crash of Crypto-Coins' badets, anyone who believes in the case continues to believe in the scenario … "It looks like progress is coming to an end, but nothing is further from the truth, "said Eugene Ng, a former trader at Deutsche Bank AG in Singapore, who prepared Circuit Capital's cryptomoedas fund.
In addition, the Nasdaq and the New York Stock Exchange were to examine future bitcoin markets in 2019, as they had announced in November, although they already exist – operated by the Chicago Board Options Exchange and the Chicago Mercantile Exchange – and "hit their lowest level since their introduction in December".
"According to the GTI Vera Band indicator, the bitcoin is below the lowest expected level, indicating a higher potential for losses and without predicting speech," writes the site. .
[Bloomberg]
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