NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Crypto Tidbits: Satoshi Isn’t Dumping His Bitcoin, China ‘Bans’ Cryptocurrency Mining

Nick Chong
Nick Chong
5 years ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Another week, another round of Crypto Tidbits. Bitcoin has seen quite the tumultuous week.

After rallying towards $10,000 at the start of the week on the back of post-halving buying, seemingly caused by both retail and institutional players, Bitcoin plunged to $8,800 over the course of two days. Altcoins posted similar losses, with some underperforming the market leader and others outperforming BTC.

Chart (heat map) of the performance of top cryptocurrencies from Coin360. Current as of May 22nd.

The drop coincided with rumors that Satoshi Nakamoto — the founder of the flagship cryptocurrency — was dumping his coins on the open market after a transaction was sent from an address created one month after Bitcoin was launched. This rumor has since been disproven by blockchain data.

In spite of the drop, analysts are still fundamentally long-term bullish on Bitcoin.

As reported by NewsBTC previously, blockchain analytics company Glassnode noted on May 18th that the Puell Multiple — the USD value of BTC issued per day over the one-year moving average of the same metric — reached a crucial level.

Chart of Bitcoin's Puell Multiple (on a macro scale) from crypto analytics firm Glassnode
Chart of Bitcoin’s Puell Multiple (on a macro scale) from crypto analytics firm Glassnode

As the below chart indicates, whenever the multiple entered the green zone, it found a macro bottom.

This strong precedent suggests that BTC is nearing a post-halving bottom and is about to embark on its fourth long-term rally.

Tuur Demeester — founder of Adamant Capital — echoed the optimism in an interview published this week by Messari, a crypto research firm:

“I think a price target of like $50,000 is not insane at all, especially given just how crazy the money printing is. I would even say between $50,000-$100,000.”

Related Reading: Crypto Tidbits: Bitcoin Halving, Reddit Using Ethereum, JP Morgan Dabbles in Crypto

Bitcoin & Crypto Tidbits

  • Bitcoin Bulls Roar After “60 Minutes” Segment: Last weekend, the world-famous show “60 Minutes’ on CBS ran a segment in which the Federal Reserve was highlighted. In an interview, the central bank’s chairman, Jerome Powell, said that the trillions of dollars the Federal Reserve has already pumped into the economy is far from the end of the potential stimulus: “There is a lot more we can do. We’re not out of ammunition by a long shot. No, there’s, there’s really no limit to what we can do with these lending programs that we have.” Bitcoin bulls were incredibly pleased by this news.
  • No, Chinese Isn’t Banning Crypto Mining: Earlier this week, there was an uproar in the community because an image was leaked of a Chinese government transcript indicating that an agency wanted to ban crypto mining. Asian-centric blockchain and fintech news outlet PANews wrote in regards to the image: “The Financial Administrative of the Sichuan province of China has issued a notice to its subordinate offices ordering them to ‘guide [Bitcoin and crypto] mining entities to end their mining activities in an orderly manner’.” While many took this as a sign that the country was banning Bitcoin mining yet again, Chinese crypto insiders confirmed that this is not the case. Matthew Graham of fund Sino Global Capital said:

“China is not banning mining, it’s complicated as usual, messages frequently conflict especially at local or regional level. Actual message is basically ‘don’t use local government support for mining to illegally raise money’. Thank you,” Graham wrote, trying to dissuade the fears of a Chinese crackdown on crypto assets such as Bitcoin.

  • Iran Pushes a National Crypto Mining Strategy: In a similar vein of news, Iranian President Hassan Rouhani was reported this week to have told the Central Bank of Iran, the Department of Energy and Information, and other ministries that he wants a national cryptocurrency strategy implemented. The strategy will purportedly involve the regulation of private mining operations and the management of cryptocurrency mining revenues. Not much more was explained, but some speculate that this is Iran trying to garner Bitcoin and other cryptocurrencies to bypass international sanctions.
  • No, Satoshi Nakamoto Isn’t Dumping His Crypto: This week, blockchain analysis firms registered a suspicious transaction: an address created one month after Bitcoin’s birth moved 50 coins. Due to the proximity of the address’ age to the creation of the network, many thought it was Satoshi Nakamoto starting to sell his coins. Yet programmer Jimmy Song noted that this is unlikely the case, pointing to blockchain data indicating that this was just an early miner, not the creator of Bitcoin.
Featured Image from Shutterstock
Tweet123Share215ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Solana

Solana Whale Moves $152 Million In One Splash—What’s Going On?

According to on‑chain tracker Whale Alert, an unknown wallet just received 1,000,000 SOL in a single move worth over $152...

Christian Encila 3 hours ago
$SNORT

ChatGPT napoveduje 10x rast žetona Snorter

Snorter ($SNORT) je nov meme kovanec in uporabni žeton, namenjen izboljšanju trgovanja s kriptovalutami s trgovalnim botom Snorter Bot. Ta...

tanjapotocnik 3 hours ago
DOGECOIN

Dogecoin cena gre še višje, TOKEN6900 bo eksplodiral

Bitcoin se je povzpel nad 109 tisoč dolarjev, kar je sprožilo vzpon na trgih: Ethereum ($ETH) – za 4,65 %...

tanjapotocnik 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin price news

Bitcoin Breakout Is A Trap—Analyst Predicts Pain Before $160,000 Surge

Jake Simmons 15 minutes ago

BTC Bull重金押注突破800萬 距離FOMO引爆日只剩72小時

estherw 22 minutes ago
Snaky Way ($AKE) Explodes Into Presale with AI Buybacks, Influencer Partnerships & Blockchain Games

Snaky Way ($AKE) Explodes Into Presale with AI Buybacks, Influencer Partnerships & Blockchain Games

Aaron Walker 1 hour ago

Premium Sponsors

Press Releases

  • 仮想通プレセール注目:リップルが米銀行ライセンスを申請、機関投資家の関心が急上昇中

    ...

    2 hours ago
  • 仮想通貨おすすめ:話題の新トークンがプレセール開始直後に15万ドルを調達

    ...

    3 hours ago
  • 新しい仮想通貨:ソラナ系取引ボットが話題のプレセールで150万ドル調達、次の100倍候補か?

    ...

    3 hours ago
  • 仮想通貨おすすめ|米下院が大型法案可決、7月4日にビットコインが急騰

    ...

    3 hours ago
  • ミームコイン急騰中|Solana発の人気銘柄続々高騰、新たな注目トークンも登場か?

    ...

    3 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.