Did Insider Trading Drop The Market?

Bitcoin Value Drops Sharply, Concerning Investors and Experts

With that, a new platform for all cryptocurrency investors to trade their investments in.

Goldman, however, is considering other projects to drive institutional investment in cryptocurrencies. Though it is an unexplained market behavior, there are experts thinking that it's panic selling that has triggered the situation.

Right in line with the post-Labor Day Weekend tech sell-off occurring in the stock market, Bitcoin's price has also dropped the last 24 hours as the digital currency has lost over 12% of its value. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.

This latest development as reported by the Business Insider comes as a surprise to many, as there have been rumors making rounds for quite some time suggesting significant progress made by the firm towards the establishment of a direct crypto trading desk.

We must point out that Bitcoin took a hit in value even with the recent good news that Bitcoin is adopting the Lightning network. At the time of press, the ETH is looming at $258, which showcases the 11% dip in the last 24 hours till the press time. This price can be the highest point in bitcoin dominance for two weeks.

Although the prices of Bitcoin is still higher than it was at this point of the year last year, it is still way below the highs of Dollars 20,000 reached towards the end of last year, and there is still no adequate evidence to signal a resurgence.

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But is there a chance that Bitcoin makes a comeback?

The Wednesday Bitcoin price crash following the pessimism expressed by Goldman Sachs is an excellent example of how vulnerable the Bitcoin market is, and why it is necessary for investors to proceed with extra caution. The authority is going to approve or disapprove a Bitcoin ETF proposal on September 30.

Bitcoin's market cap was also impacted due to this drop. The agency mentioned the same reason for the rejections-price manipulation. On January 13 this year, according to Coinmarketcap.com, the Ethereum price marked $1,377.72 pushing the crypto market boom at the moment.

Within minutes of the announcement, the pioneer crypto saw a 6% drop down to $6,900 range, and things haven't looked up since. It will show investors a lot about Bitcoin price action.

Vitalik Buterin, co-founder of Ethereum, was at an Ethereum and blockchain conference in Hong Kong when he told Bloomberg that opportunities for 1,000-times growth in the cryptocurrency market are no longer out there.

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