Since the beginning of this year, the price of Bitcoin has fallen sharply. However, in several market shocks, one key point has always been the resistance of the price to break down effectively. Therefore, with the recent sharp fluctuations in prices, the market has focused on this support point.

Bitcoin prices are currently around $6,400. Bloomberg today wrote that technical graphics show that Bitcoin is now trading above the price and trend lines, sending a positive signal that the $6,000 line has been preserved in the past few crashes. Once again, it has become a strong support line.

The article mentioned that since February this year, Bitcoin has tested the level of $6,000 five times in the downside, but it bounces back every time it approaches. The last time it fell into this area, the Bitcoin price added a 20% rebound. The article believes that 

Goldman Sachs has announced that it is preparing to launch hosting services, although they did not give specific launch time, I heard the situation is fast.

A large number of hosting services are coming, so I think that by the end of the year, the hosting services that organizations can get will not come from just one well-known company, but two or three.

The lack of hosting services mentioned by Novogratz is an important factor that currently hinders institutional entry.

Earlier this month, Business Insider reported that Goldman Sachs currently focuses on cryptocurrency development in projects such as cryptocurrency custody services, where Goldman Sachs holds digital currencies on behalf of some of its largest fund customers. Many market observers have pointed out that for large organizations, they need a reputable hosting service to ensure the security of positions.

Since May of this year, Goldman Sachs has been providing clearing services for Bitcoin futures for CBOE and CME. As for direct participation in Bitcoin exchange, Goldman Sachs has not yet set foot. In an interview with CNBC at the beginning of the month, Goldman Sachs CFO Martin Chavez also mentioned that before taking further action in this area, you first need to see a secure hosting service. He said:

From a hosting perspective, we haven’t seen an organization-level Bitcoin hosting solution, and we’re interested in it, but there’s still a long way to go.

Since the beginning of this year, Bitcoin prices have continued to decline in the context of the continued tightening of global regulation. Bitcoin has fallen by about 60% since the high point of January this year. As of now, Bitcoin price today reported $6,451.71, a decrease of 3.75% from 24 hours ago.