Goldman's entry and exit comments sink the market. The Winklevoss brothers provide a patent for storing math-based resources. Coinbase learns the art of the financial ETF from Blackrock, could soon ask a question. Satis Group brings a bullish view on Bitcoin, even if it is not really satisfied with XRP. IBM runs Stellar to launch cross-border payment systems. Garlinghouse and Arrington eliminate the FUD around the XRP, defining a government intervention by a roadblock. Internationally Uzbekistan legitimizes cryptocurrency and Iran accepts mining cryptocurrency as an industry.
A week that created chaos in the cryptic way due to the confusion around Goldman's encryption operations. In fact, it did not matter much beyond this since prices went from positive to negative and vice versa. After months of speculation and suggestions, Goldman Sachs seemed to hush up the idea of launching a cryptocurrency trading desk in the foreseeable future at the start of this week. However, a senior-level Goldman executive, Martin Chavez, later indicated that the report on the bank's plans to move from a cryptographic desk was "false news". If the original piece of Goldman's news was the one that sent the spiral cryptocurrencies for the rest of the week, the "fake news" statement does not seem to have caused a recovery in value. As the clarity of Goldman's operations finally arrived, Winklevoss's brother continued to collect intellectual property rights with patents on new blockchain applications.
Toward the end of the week, the news revealed that the US Patent and Trademark Office had granted the brothers a patent under the heading "Systems and methods for storing digital mathematical resources using a secure portal. " The patent describes a way to ensure a computer network that can then generate digital resource accounts to store cryptocurrencies securely.
No week can go without the Bitcoin ETF news, it is not this week. Business Insider reported this week that Coinbase spoke with Blackrock for advice on their alleged crypto-ETF. If you hope for a partnership announcement, you should not be too excited. The talks seem to be the case of the elder brother Blackrock who helps little brother Coinbase overcome the complicated process of the ETF. With nine pseudo-waste of the ETF until now, it is clear that Coinbase wants to do it well with their first swing to the pot. From a research perspective, Bloomberg Research has recently published a Satis Group report, and the findings should make you smile. Well, it depends on which coins you support. The report lists positive forecasts for Bitcoin, Monero and Fiat, which are expected to reach $ 96k, $ 18k and $ 535, respectively, within five years.
If you are a Bitcoin Cash or XRP supporter, you may want to stop reading here. Satis Group has a price of $ 268 for BCH and only $ 0.01 for XRP in the same period. Stellar expands its use case while IBM continues its dive into the blockchain with Stellar. This time with a complete cross-border payment system, dubbed World-Wire. World Wire aims to reduce transfer settlement time around the world from days to minutes. As? Hitching on the back of the Stellar protocol (R & # 39; uh R & # 39; oh Ripple).
World Wire is now part of the long list of blockchain products that IBM offers or plans to offer over the next two years. Garlinghouse and Arrington appeared at the Techcrunch conference to clarify the FUD around the decentralization and security of XRP. They even shared their views on the role of America in the great cryptic race. According to them, unclear government regulation is the main obstacle to innovation and US investment. Other fixed points include tax burdens and the difficulty of obtaining a visa in the United States. Thanks, SEC.
In a significant development all over the world, the President of Uzbekistan, Shavkat Mirziyoyev, has now signed a decree allowing the existence of cryptocurrency exchanges and other activities in the sector. According to a news portal, Unhashed, the decree provides an account of the details of the cryptocurrency policy. It has also established a series of requirements that exchanges must follow in order to operate in the country.
According to the decree, the encryption activity will not be regulated by the legislation in force surrounding the securities and will instead be regulated by specific acts implemented for digital goods. The exchange license will be granted to foreign subjects only if they meet certain criteria mentioned in the decree. From the mining front, the Iranian government accepts the cryptocurrency mining industry. According to the Iranian newspaper IBENA, the secretary of the Supreme Council of the Iranian Cyberspace has declared that the cryptocurrencies like the bitcoins have been accepted as an industry in the government and all the organizations related to the mining sector as the ministry of communications and 39; IT, the central bank, the ministry of industry, mines and commerce, the ministry of energy, the ministry of economic affairs and finance have agreed, but the final policy for to legislate has not yet been declared.
Goldman The confusion of Sachs was clearly visible from the other side of the street and was a bloodbath in the true sense in which the market capitalization of the major cryptocurrencies was liquidated in a few hours, including that of Bitcoin . Prices hit the highest point of USD 7,388.43 and the lowest point of USD 6,197.52 during the week. Apart from the anomalous values of BitMEX and BitForex which had respectively volumes of 26.68% and 17.67%, the exchanges that were more active, in volumes, with BTC on various pairs this week were, Binance (3.05%), Bithumb (2.80%) and OKEx (2.00%)
As bears return to the street, bear predictions on bears. Dan Roberts of Yahoo Finance said that Bitcoin prices could increase in the future, but they would never return to $ 20,000. He said:
"It is not fair that people expect it to reach $ 20,000, there is strong evidence that the market has been manipulated by many investors who have had huge holdings, resulting in a dramatic increase in prices. "
Also, read: The Bitcoin bear market is making a bullish case, is it the right time to invest?
Ethereum was not pierced when the crypto-market cookie collapsed. Furthermore, Buterin became bearish on his own creation. It took a fall of 35% to enter oversold territory. The price of Ethereum at the top, this week was USD 295.59 and stood at lows of 193.26 USD, expanding its range of action on the downside. The most active markets, in terms of volumes, with ETH on various pairs this week were OKEx (2.94%), Huobi (2.73%) and Binance (2.29%) again BitForex equal to 41, 76%
In an interview with Bloomberg at a conference on Ethereum and blockchain in Hong Kong, Buterin said that
"The blockchain space is coming to the point where there is a ceiling in sight If you talk to the average educated person at this point, they probably have heard of blockchain at least once. "This means that" there is more an opportunity for another 1,000-fold increase in anything in space ".
This took short positions on Ethereum Reach All-Time High on Bitfinex.
XRP also saw Brad Galinghouse and Arrington emptied FUD around the coin but that was not enough because the coin has crumbled under the feeling of the problem. bear bears down 20% this week. At the top, this week XRP prices were USD 0.343684 and down they quoted USD 0.273789. The most active exchanges, in volumes, with XRP on various pairs this week were Bitbank (14.23%), HitBTC (11.13%) and Binance (6.31%)
Chris Larsen, executive chairman and co-founder of Ripple, recently revealed that the company now has over one hundred manufacturing contracts signed, sealed and ready to be implemented. The news was revealed at the Crypto Finance Conference, which was held recently in Half Moon Bay, California. Larson spoke of a background that represented many of the more than 100 companies that signed contracts with Ripple.
Other promoters and agitators
Other currencies that have reached the top and the bottom this week according to the Coin Market Cap (access on September 9th at 22.30 IST).
- Webcoin – Showing a 352.52% increase
- BitcoinDark – Showing a 236.05% increase
- Coin Karatgold – Showing an increase of 161.32%
Agitators  ETERNAL TOKER – Reduction of 67.28%
In your opinion what would be the feeling of the crypto markets next week? Let us know your opinions about the same