Goldman Sachs optimism on cryptocurrencies and its derivatives trading is likely to add a domino effect in Wall Street circles, said Blockchain Capital partner Spencer Bogart. He considers that the Goldman Sachs decision will snowball into other banks, and not just because they’re following the company’s lead.

On the hand, JP Morgan has applied for a patent related to blockchain back in October of last year. It seems quite contradictory to what has been told by its CEO Jamie Dimon, which has been on record as one of bitcoin’s and cryptocurrency’s biggest critics. Titled Systems and Methods for the Application of Distributed Ledgers for Network Payments as Financial Exchange Settlement and Reconciliation, the U.S. Patent and Trademark Office published JP Morgan Chase Bank’s formal application to patent what amounts to a variation on blockchain technology.

Amid one of the major drivers for the crypto markets, the BTC markets have rallied to test resistance at the $10,000 area. Bitcoin cash (BCH) has been one of the few digital assets keeping its weekly gain, it surged net 14% this week, one of the few among the top 10 of coins to keep to the gains.

The immediate reason behind the rise is the planned non-contentious hard fork on May 15, which may be increasing the exposure of the asset, and amplifying the hype.

Nevertheless, the Bitcoin Cash universe unlikely to disregard the Bitcoin marque, however, there are fewer outright talks of a “flipping”. BCH transactions are still around 10 times lower compared to those on the BTC network.

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