The price of Bitcoin has fallen dramatically in recent hours by more than 10%, being very close to six thousand dollars. Those amounts are much lower than the asset reached in the last few days and a news report on deals involving Bitcoin may be behind it.
Bitcoin (BTC) has suffered an instability in its price that seemed to be over. After five days of valuation followed, the price of the crypto-currency showed some stability. But that stability was broken last Wednesday (5), when Bitcoin (BTC) devalued more than 5% in just two hours.
Goldman Sachs may be largely responsible for the drop in price.
Goldman Sachs was about to open negotiating rounds involving Bitcoin (BTC). In this way, the company hoped to negotiate the cryptocurrency through corporate transactions, involving large companies. But this negotiation will not happen again. Thus, the news about the cancellation of negotiations involving Bitcoin (BTC) given by Goldman Sachs may be the “big villain” responsible for the devaluation of Bitcoin (BTC).
Goldman Sachs is one of the largest banking institutions in the world. Bitcoin (BTC) could be traded by a large company in the traditional financial sector. But with the withdrawal of Goldman Sachs, the price of Bitcoin (BTC) sank completely.
Companies and negotiations can influence the price of a cryptocurrency
Networks survive thanks to their partnerships in search of increasing the reach of a digital asset. In this way, currencies like Bitcoin (BTC) see chances of growth when being incorporated in negotiations, as was supposed to happen with Goldman Sachs.