The cryptocurrencies collapsed

The last two days were extremely heavy for the cryptocurrencies. More than 20% of their market value lost cryptocurrencies like ethereum and ripple. Earlier this morning, the ethereum is traded at levels of $365 per coin, while the ripple - at $0.34 per coin.
Serious decline has the bitcoin cash - down to $597, as well as the bitcoin, traded at $6,350 early this morning.
The depreciation of the cryptocurrencies occurred after the decision of the US Financial Supervision Commission to postpone its decision on VanEck's and SolidX's demands for an index based on the cost of the bitcoin. This was VanEck's third attempt to start this kind of fund.
More than $9 billion of the cost of the bitcoin was "wiped out" after the decision of the US regulator.
We can also recall that the Winklevos brothers' request for the creation of such a fund last month was also rejected. It was then that the strong decrease in cryptocurrencies levels was also started.
Market participants were hoping for a US regulator's permission for such a kind of index fund, which would be the first of its kind.
The proposal of the two investment companies, VanEck and Solid X, was to create an index fund backed by real bitcoins rather than futures on it.
Index funds are seen as a way of exposition of institutional investors to cryptocurrencies. The lack of such funds seriously limits the access of large investors to the relatively limited and not particularly liquid market of cryptocurrencies.
So far, there have been many attempts to obtain permission from the US regulator for an index fund, but none of them has been successful. The question is - how long can the regulators' rejection continue?

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The bitcoin tested $10,000

In the last two days, the bitcoin and the other cryptocurrencies have risen. The largest in terms of market capitalization cryptocurrency went back over the psychological limit of $9,000 and was on the brink of testing the key level of $10,000.
From the outcome of this test will depend the future direction and movement of the bitcoin, according to market observers. On the one hand, an unsuccessful breakthrough and retention above $10,000 can restore the drop in full force.
On the other hand, if we see the psychological limit of $10,000, the increase in cryptocurrency may continue and even we could see $12,000 in the mid-term, according to technical analysts.
Otherwise, the bitcoin reached yesterday a 11-day peak, at a level of $9,725. After reaching the lowest value of just over $6,000 at the beginning of February, the cryptocurrency is in a sustained phase of increase.
Investors' concerns about potential interference and regulation of cryptocurrencies have lowered, which in practice has contributed to the rise of the bitcoin.
On Tuesday, Peter Boockvar of the Bleakley Financial Group was another investor who described the bitcoin as an "absolute bubble" in an interview with CNBC's financial magazine.
For other cryptocurrencies, the ethereum increased by 4.7% to 891 dollars, and the bitcoin cash was up 3.8% to $1,296. Lighthcoin was the biggest winner among the cryptocurrencies, after rising from 23 percent to 196.95 dollars, while the ripple added 3 percent to its value to 1.07 dollars.
Statistics, however, suggest that investors may have missed the rise of the bitcoin by nearly 50 percent of its bottom, given the record low trading volumes that are the lowest since July 2017.

Carl Icahn: The bitcoin and the other cryptocurrencies are ridiculous

The last expert to comment on the bitcoin and the other cryptocurrencies is investor activist Carl Icahn. He said, that the bitcoin and the other cryptocurrencies are ridiculous and he would not approach them.
"Maybe I'm too old for them," Icahn said. "But I would not have touched these things."
The negative comments of the billionaire investor became a reality in front of the CNBC financial magazine.
"I'm not playing the cryptocurrencies, maybe just because I do not understand them," added Icahn in the special TV interview. "How are these currencies regulated?"
"Maybe I'm too old for them," Icahn explained, "but I just would not touch those things."
The bitcoin recovered from its three-month minimum on Tuesday, reaching levels of about $7,000. Earlier in the day, cryptocurrency dropped momentarily below the psychological limit of $6,000.
Despite the great popularity of the bitcoin, more and more well-known investors and analysts are critics of the bitcoin and other cryptocurrencies.
During the Davos Economic Forum in Switzerland last month, the bitcoin was severely criticized by many business leaders.
Jamie Dimon said the bitcoin would never be a major competitor to the dollar. According to him, however, blockchain technology can serve for greater efficiency in financial transactions.
Last month, billionaire investor Warren Buffett said he believed that the recent madness of the bitcoin and the other cryptocurrencies would not end well.
At the end of last year, Icahn said that the bitcoin "looks like a balloon."

GS: Cryptocurrencies and loans will overshadow US growth (1)

Financial imbalances, including those in cryptocurrencies and credit markets, are expected to overshadow the growth of the world's leading economy, Goldman Sachs Group Inc. analysts said.
The bank is also expecting four Fed interest rises in the next year and an acceleration in the US economy to 2.6%. The unemployment rate in the world's largest economy is expected to drop to 3.5%.
However, the financial institution does not expect everything to go smoothly. According to them, estimates of some assets, especially loans, have reached a high level, historically. And as long as we do not see credit rises to levels that would disturb the Fed, there are signs of speculative behavior in credit instruments as well as the cryptocurrencies boom.

Volatile crypto

The US investment bank, Goldman Sachs Group Inc., is preparing a trading desk to become a market maker for cryptocurrencies trading, according to sources.
Such an action would not be a big surprise, given the comments coming from the bank and related to cryptocurrencies, over the past few months.
According to the same sources, GS aims to enter the business with a bitcoin by the end of June next year.
Meanwhile, cryptocurrencies prices continue with their incredible volatility. The bitcoin lost nearly 15 percent of its value last week, the bitcoin cache also hit serious losses after it added 40 percent to its value and reached levels over $3,700 for a coin.
To a new historic record rose and the ripple, which overtook the psychological limit of $1, reaching levels of about $ 1.10.
With about 10%, the price of the lightcoin has fallen. It traded before Christmas at levels of about 280 dollars per coin. Pressure on the cryptocurrency appeared after the news that the lightcoin founder had sold all his coins.

Jamie Dimon: I'm open to cryptocurrencies... But regulated!

The bitcoin is everywhere in the news and in the media. Apparently this puts a serious strain on Jamie Dimon, who, apart from being terribly wrong in his forecast for the bitcoin (at least for now, claiming it is a balloon that will end up much worse than tulip mania) when it was 6000 dollars, said he would have fired each of his company, which traded with cryptocurrencies.
Goldman Sachs, which are expected to be one of the major market makers of the bitcoin and other cryptocurrencies, have benefited from this.
Dimon, said he was still skeptical about his bitcoin and its future, but he had definitely softened his tone.
Dimon's last comments are definitely far more different than before. About a month ago, he said that if you're stupid enough to buy it, you'll pay the price for it one day, when the price of the cryptocurrenciy was about $5,800.
Since then, the bitcoin has risen to more than $19,000, last trading at just over $15,000.
Although Dimon said in September that the bitcoin was a scam, he did not even deny that the cryptocurrency could safely rise to $100,000 before it reached its peak.

Draghi: Cryptocurrencies are not mature enough to be regulated

Apparently, the head of the ECB, Mario Draghi, has become bored, or he just wants to divert the market attention after commenting on the cryptocurrencies. All eyes are on Draghi, looking for potential signs of what the ECB's future monetary stimulus policy will be. Draghi, however, surprised everybody, by saying that cryptocurrencies, are not mature enough to be regulated. According to him, digital currencies need to be approached with particular attention in relation to the potential risks associated with them.
Until now, the different regulators have adopted a different approach to cryptocurrencies. It varies widely from their recognition from Japan, to the ICO ban in China, and the closure of the Crypto-Exchanges.
Last month, in a formal statement to the European Parliament on Economic and Monetary Affairs, Draghi said the ECB had no competence to regulate cryptocurrencies.

Larry Fink: I believe in cryptocurrencies

The polarization in the world of the bitcoin and the other cryptocurrencies continues with full force. After seeing the bankers who opposed the bitcoin and announcing it as a balloon, the cryptocurrencies received some support from other representatives of the financial world.
After it became clear that Goldman Sachs apparently planned to enter the digital money world more seriously, the latest support for the bitcoin and other cryptocurrencies came not from any else, but from one of the most influential financiers.
It's about Larry Fink, the head of the largest asset management fund - BlackRock.
According to Fink, the bitcoin and other cryptocurrencies can have a significant impact on the identification and disclosure of "money laundering" globally.
The continued growth of cryptocurrencies points to and reveals how money laundering is currently taking place in the world, Fink told Bloomberg.
He also said, that he is the one of the great believers in the potential of cryptocurrencies and what they can do. He added that he sees "tremendous opportunities" in the bitcoin, but at the moment, moods about cryptocurrencies are relatively speculative.