Goldman Sachs Shows Crypto Interest is Strong

Bitcoin and other digital assets have added value this morning as buyers have shown their speculative teeth again. 

Bear Market Trend Weakens as Moving Averages Improve

As cryptocurrencies enjoy a moment of speculative buying, it may also prove worthwhile to acknowledge how far their sphere of influence has grown over the past year. While talking about regulation regarding the trading of digital assets has gained fervor in places like the U.S, Japan, the U.K and a host of other countries – this has not deterred the steady growth of new business ventures. And this weekend, Iran which has been rumored to be considering a state-run cryptocurrency, announced it is banning independent cryptocurrency trading as it tries to fight a disintegrating economy while its citizens search for stable assets. Meaning the influence of cryptocurrencies continues to build a foundation, even as virtual assets deal with controversial issues and governments respond reactively.

More Buyers Climb into Bitcoin Early this Morning

Bitcoin has powered higher this morning. The cryptocurrency was quiet yesterday as it hovered near the 8,900.00 U.S Dollar level, but Bitcoin has found additional buyers and is currently close to 9200.00 Dollars. The digital asset is now within a value range not experienced since early March. The question is where momentum will take Bitcoin next? The last ten days have provided a solid kick start for buyers. If the cryptocurrency can punch through resistance at its current values, traders will target the 10,000 U.S Dollar mark. For traders who believe the bear trend will flare again, the 8400.00 level should be watched carefully.

Bitcoin Daily Chart
Bitcoin Daily Chart

Goldman Sachs Indicates it is Growing Serious about Cryptocurrencies

Goldman Sachs, the large investment firm, has announced it has hired Justin Schmidt to head its new digital asset division. In late 2017, Goldman Sachs admitted they were considering the possibility of allowing cryptocurrencies to be traded by its company. The hiring of a known cryptocurrency trader as the leader for its digital asset division signals the investment bank is strongly considering the possibility of allowing the institutional trading of cryptocurrencies – which would be a large milestone for digital assets.

ICO Roadshow in Toronto Today

Toronto, Canada will host a Blockchain conference today. The event is part of a coordinated ICO roadshow which met in Silicon Valley and New York City the past week.

  • April 24th, Canada, Blockchain Conference in Toronto

Yaron Mazor is a senior analyst at SuperTraderTV.

SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.

Published by

Yaron Mazor

Yaron has been involved with the capital markets since 1998. During the past 16 years, Yaron has been a day and swing stocks trader in the American market. Yaron has founded and made successful investments into businesses spanning exciting industries – from apparel to restaurants and bars, to high tech, medical technology and education. Ten years ago, Yaron sold all of his businesses and became a trader. Yaron started an education provider that taught thousands of people worldwide how to trade. Since then, he has traded every single day across every imaginable financial instrument Organic Trading System (OTS) is an unprecedented, new paradigm of trading technique, developed by Yaron Mazor. The trading system utilizes a combination of essential resources of market data (Fundamental, market participant sentiment and the basic concepts of trends), which are harmonically coordinated, in order to enable a relatively fast, simple and easy way to decide which side of the market to be trading from – the Buy side or the Sell side.