It’s Wednesday, October 4th, I’m Kiana Danial, CEO of Invest Diva with NewsBTC and here is your crypotocurrency update. BTC/USD was unable to break above the daily Ichimoku cloud on Tuesday and formed a morning star candlestick pattern after Monday’s spinning top candlestick on the daily time frame. While the Kijun line has crossed above the Tenkan line, the future cloud has turned thin and flat, giving us mixed medium-term signals. This is despite the fact that the markets saw more investment bankers backing Bitcoin. While many on Wall Street are rallying behind JPMorgan CEO Jamie Dimon and his criticism against Bitcoin, there are others who are far less skeptical. For one, Goldman Sachs Group Inc. (GS) is weighing a new trading operation dedicated to bitcoin and other digital currencies, the first blue-chip Wall Street firm preparing to deal directly in this burgeoning yet controversial market
Another major financial institution on Wall Street, Morgan Stanley, have had their CEO James Gorman come out and say that Bitcoin is not a fraud, nor even a ‘fad.’ With the growth we have already seen in the cryptocurrency market, especially in Bitcoin, there is a good chance we could see it reaching and even surpassing its all-time high level of $4,975 and potentially even reach the $6,000 area by the end of the year. Thanks for watching, invest responsibly, and I’ll see you with more
