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

  • Alex Dovbnya
    📰 News

    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.”

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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