The crypto space is on the sensitive ground at the moment.
This is because more people are looking into how the relationship between paper assets and crypto-assets is going to work in the future.
A perfect example of this is the recent termination of the critically acclaimed Barclays-Coinbase relationship.
One of the biggest banks and one of the biggest cryptocurrency exchanges are parting ways.
This follows unconfirmed reports of the separation of the two.
A Match Made in Heaven
When the two parties entered a formal relationship a year ago, it seemed that they would almost certainly remain together in a mutually beneficial relationship.
Coinbase entered Europe and Barclays seemed to be forward-thinking.
And all was well both on earth and in crypto land.
It was fun While it Lasted
This relationship, of course, gave Coinbase access to the UK’s faster payments system which is a big deal for the crypto space.
It gave the exchange direct access to the EU (based on pre-Brexit arrangements) and the world’s financial capital: London.
So, for all that time, everyone was happy.
How That Played Out
Of course, the impact of the ending of this relationship shows the undercurrents of the current financial system to cryptocurrencies.
The love-hate relationship shows that the current system knows that the inevitable is coming.
Cryptocurrencies are going to be the new masters of the financial universe!
As such, the current price dip in Bitcoin’s prices is whiplash from a love tale gone sour.
Big Banking Hates Crypto’s Guts
We all know how big banking loves control.
So, cryptocurrencies, for the most part, are a necessary evil which they have to contain at all costs.
As such, banking relationships always make big news in the crypto-space.
Loss of such a relationship always causes the chickens in the crypto space to run away.
Which way for Bitcoin Prices?
As such, prices will go down slightly when the weak leave at anything that closely resembles a storm.
It’s all psychological.
What do you think?
Will Coinbases’ relationship with Barclays cause a further drop in Bitcoin prices?
Please let us know in the comments below!