Although major banks have decided to take a stand against cryptocurrencies and related trading, (including) the central bank in India, some banks are going the opposite way.
After Goldman Sachs, another international bank, Barclays has been sending out feelers to its customer base to gauge how they feel about trading in crypto.
According to some people familiar with the matter, it was rumoured that Goldman Sachs was setting up a trading desk to make markets in digital currencies such as Bitcoin by June if not earlier.
Last week, a team of Barclays analysts laid out a pricing model which did not showcase its positive aspects and treated it like a disease, according to a report in Bloomberg.
Elaborating, the model divided the investors into three types:susceptible, infected and immune. Analysts believe that when prices rise, “infections” spread by the word-of-mouth.
The analysts said, “The most recent peak may have been the ultimate top. The speculative froth phase of crypto currency investment, and perhaps peak prices, may have passed.”
Although, it’s great that international banks are splashing in the shallow end of cryptocurrencies, they are still trying to avoid it like a bad taste in the mouth.
These statements put across by Barclays sounds a lot like “Let’s do it because everyone’s doing it” but more of “There’s a gun to our heads and hence we are carrying out this research.”
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