In the news recently: Goldman Sachs purchased Poloniex Exchange. This is an interesting turn of events as Goldman Sachs has been spreading FUD about Cryptocurrencies during the month of February. It is interesting that during the time that Goldman Sachs was spreading FUD, they were in secret negotiations to buy Poloniex.
Here is what Goldman Sachs have been saying about Cryptocurriencies:
"Most cryptocurrencies will crash to zero, Goldman Sachs says"
Steve Strongin, head of Goldman Sachs global investment research said in a note, that cryptocurrencies don't have "intrinsic value"
Steve Strongin said that most of today’s cryptocurrencies are “unlikely” to make it over the long term
19 days ago, I reported that FUD was being spread about Cryptocurrencies. Just check out my report.
https://steemit.com/bitcoin/@socky/fud-monster-bloomberg-and-cnbc
The cryptocurrency market is being manipulated by large investors.
The market was intentionally driven to a dismal level by large investors to buy up assets cheaply. This type of influence would normally be illegal in the stock market and financial sectors, but with cryptocurrencies, governments don't like cryptocurrency and will not intervene when manipulation takes place.
Image from: https://www.dailykos.com
It's actually pretty scary. Circle + Poloniex makes them collectively one of the top 5 crypto exchanges now. They have a huge position in the institutional finance crypto trading world and are also adding Circle Invest - their personal investing app for the likes of you and me. This might be one area that we'd benefit a bit from regulation especially since most exchanges don't yet allow shorting. Once some exchanges allow that, I think some of these issues become reduced
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I think that other exchanges and decentralized exchanges should be fostered. This is not in the right direction for cryptocurrency.
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What a contradictory turn of events, ehhh? hahaha nooooo just a market insider trying to scare the beewiddles out of lil minnows like myself and all those new crypto accounts being made on the daily like it's going out of style... what a way to BTFD that 'little' swindler lol
I think this will honestly push the market cap back to near ATH's around 800 billion in the near short-term, but not too sure about long-term. I guess we shall let this run its course and see where it leads us... for now
Steem on!
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It could very well boost cryptocurrency. I just think that Goldman Sachs should be held responsible... Somehow.
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yeah, i don't know what could be done about this, but I hear ya loud n clear captain.
~Respect
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Very interesting thank you for sharing this information with us
Upvoted and resteemed
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Thank you for the resteem!
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This will not be the last time for a criminal bank to pick up another crypto exchange, why? Those who runs a crypto exchange is in it for the money and nothing else.
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I am with you. I'm staying away from Poloniex.
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That's just wrong. I'm not surprised, but it's wrong. All you have to do to stick it to Goldman is not use Poloniex. They're probably going to be working hard to get competitive advantage by listing popular coins that aren't listed elsewhere, or by lowering rates, or doing promos to get people to sign up, but if everyone just walks away from Poloniex, Goldman Sachs will lose their money from the purchase. If there are no trades going through, they don't get paid.
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I don't agree with what Goldman Sachs did. I have considered setting up a Poloniex account in the past, but now, I don't expect to ever get a Poloniex account.
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I agree. It's like the people who I used to hear about who would buy a penny stock, pump it on chats, and then dump it when it went up. It's just shady. People can do better than that.
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Definitely not surprised. These guys don't like the fact that people are taking their money back from them, and if they can't have your money then no one can.
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I wanted to make Polloniex account but it seems not good idea. Thank You for this usefull information
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Good choice. They don't deserve my business.
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Thanks for sharing this wonderful and iiteresting piece of information
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Upvoted ☝ Have a great day!
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