Many are blaming Goldmanachs's pull out from Crypto Desk Project and this pay be why we dipped but, according to Goldman's CFO this pull out is FAKE NEWS!
Goldman Sachs Chief Financial Officer (CFO) Martin Chavez said that recent reports about the company abandoning its plans to open a cryptocurrency trading desk are “fake news,” CNBC reported September 6, 2018. Chavez had to laugh as he never thought he would have to use the term "Fake News", check out the article below:
https://cointelegraph.com/news/goldman-sachs-cfo-recent-reports-about-crypto-trading-desk-are-fake-news
The price drop was real, but the news that supposedly caused it was not, we do not know if this caused it or not but it does not really matter anyway, this is short term and I called for this 9 days ago:
https://steemit.com/bitcoin/@embomb701/market-in-the-green-but-don-t-get-too-excited-just-yet-my-prediciton
In my opinion we are going to trade sideways between 6 and 7 thousand until the next SEC ETC decision 9/30/2018, or when BAKKT goes live this November, at which time we will see some life return to the market.
Now there is another interesting story about the Bitcoin ETF potential approval by the SEC. A Pro Bitcoin Republican SEC commissioner was just appointed this past week, more info below:
https://www.trustnodes.com/2018/09/06/bitcoin-etf-chances-increase-republican-sec-commissioner-appointed
Recap With a new SEC Commissioner appointed, Bakkt going live in and Goldman still going ahead with their Crypto desk there was no good reason for the price to drop. Bitcoin and Crypto in general continues to gain adoption and exposure, the fundamentals continue to improve and the uses are limitless! I am still Bullish Long term on Bitcoin but I think the Bulls will be taking over in this 4th quarter of 2018.
I am not a financial advisor and this is not financial advise, invest at your own risk.