Alex Morris

CNBC Contributors: Crypto Industry Doesn’t Need Banks, Goldman-Fueled Sell-Off Is Not Critical

Two traders weighed on Goldman Sachs’ decision not to open a Bitcoin trading desk during CNBC's Futures Now. Crypto industry doesn’t need Goldman’s endorsement
CNBC Contributors: Crypto Industry Doesn’t Need Banks, Goldman-Fueled Sell-Off Is Not Critical

Traders Brian Stutland and Jim Iuorio have recently weighed on Goldman Sachs’ decision not to open a Bitcoin trading desk during CNBC's Futures Now. They claim that the cryptocurrency industry doesn’t need Goldman’s endorsement since digital assets are supposed to get people out of the banking system. While there is a Bitcoin sell-off underway, they are certain that BTC will not plunge lower than $6,000.

Earlier, Brian Stutland claimed there is a clear correlation between the CBOE Volatility Index (VIX) and Bitcoin. As the VIX index is headed lower 30 days from now, he believes it’s worth buying crypto “on a dip.”

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