cryptocurrency bank goldman sachs

The value of a single bitcoin recently surpassed the unprecedented number of $11,000. This is a new high point that represents more than just a substantial increase in the price of the currency. This new price increase shows that there are new expectations for the market as a whole. Bitcoin among other digital currencies are becoming more and more mainstream in the financial world as they are seeing a large amount of adoption.

Don’t Forget to Join our FREE Text list! From Your Cell Phone Text the Phrase CRYPTO to 474747

Bitcoin was only trading at around $960 during the beginning of the year, and the currency has risen quite steadily since then. The coin has since gone up by around 1,000%, something that is unprecedented in the investing world. CME Group, the largest derivatives marketplace has also announced that they will be offering futures trading for the currency, which ultimately helped to legitimize the currency among other things.

Some in the industry such as the CEO of JPMorgan Chase, Jamie Dimon, have called the industry fraudulent and nothing more than a bubble, but that is quickly being disproven. People are not too sure that bitcoin is ready to enter the futures trading market. One proponent of this idea is Themis Trading Principal, Joe Saluzzi. He recently warned that since the currency is so dangerously unregulated “it reminds me of the financial crisis all over again.”

Don’t Forget to Join our FREE Text list! From Your Cell Phone Text the Phrase CRYPTO to 474747

He also stated that the high level of volatility ensures that the coin cannot be used in any mainstream financial system. This is also being disproven quite quickly as the coin is becoming more and more widespread. As cryptocurrency becomes adopted by more throughout the financial system, it is only a matter of time before its mainstream adoption is spread out throughout the financial system and across the world. Until then, critics and supporters will continue to disagree.


Please enter your comment!
Please enter your name here