Goldman Sachs denies dropping crypto trading desk plans

Bitcoin falls off another cliff as cryptocurrency slump deepens

Bitcoin sank further Thursday, extending the previous day's slump sparked by reports U.S. investment banking giant Goldman Sachs has pulled back from immediate plans to open a trading desk for the virtual currency.

In addition to speculators, whose chorus has abated recently, the voices of the recognized experts in the crypto industry has become louder. It might take many steps before a regulated bank could trade digital assets, a lot of them outside Goldman Sachs' control, sources had reportedly revealed.

In 2018, "fake news" has many meanings, but direct quotes in the New York Times from a senior company executive talking about their massive merchant bank establishing a bitcoin desk isn't fake news no matter where you sit on the political spectrum.

Following the news, the whole of the crypto market went down. "From the perspective of custody, we don't yet see an institutional grade custody cases custodian solution for Bitcoin".

For now, it still appears as if there is still too much uncertainty in the cryptocurrency arena and even the hint of regulatory news seems to send many individuals and organizations into another round questioning the legitimacy and value of cryptocurrency once potentially constrained by regulatory organizations.

Describing physical Bitcoin as "something tremendously interesting, and tremendously challenging", Goldman's CFO emphasised on the need of a safe custody solution for the cryptocurrency.

Initially, when Goldman Sachs stated that they wanted to review their plans about being involved in the cryptomarket.

Burt Reynolds, star of 'Deliverance,' 'Smokey and the Bandit,' dies at 82
The star described the love of his life as ex-girlfriend Sally Field , whom he dated on-off for five years in the '70s and '80s. The magnetic actor was known for his roles in " The Longest Yard ", " Deliverance ", and the " Smokey and the Bandit " movies.

This is despite warnings of a bubble and many not truly understanding how the digital currencies work or how they fluctuate.

In July, Coinbase announced a custody service which is meant to "make digital currency investment accessible to every eligible financial institution and hedge fund in the world".

In July, the US Securities and Exchange Commission rejected a second attempt by Cameron and Tyler Winklevoss, founders of crypto-exchange Gemini, to list shares of what would have been the first-ever bitcoin exchange-traded fund.

The cryptocurrency total market cap suffered through the greatest low recorded in recent years in just a few hours.

The sooner it was reported that the news from Goldman was fake it is suspected that it is the bear game to create a panic in order to trigger a major sell-off.

Korea Post, the national postal service of South Korea, will develop connection with Goldman Sachs to derive "know-how" on cryptocurrencies.

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