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: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq
  • 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: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq

Crypto Tidbits: Bitcoin Nears $10k, Goldman Sachs Talks Cryptocurrency, Chinese Yuan Slumps

Nick Chong
Nick Chong
5 years ago
3 mins read
crypto

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.

It’s been a positive past week for the Bitcoin market.

After falling as low as $8,600, the flagship crypto mounted a strong comeback over the past few days that say BTC hit $9,650. This is the highest price the asset has traded in just over eight days.

Interestingly, altcoins began to deviate from Bitcoin’s price action over the past week.

As can be seen in the image below, Ethereum largely outperformed BTC and other asset classes, as did Cardano and Maker. On the other hand, Chainlink, XRP, Bitcoin Satoshi’s Vision, and other top crypto assets slumped.

Image of crypto market price action from Coin360

The crypto market remains below the late-April highs and the year-to-date highs, but analysts are still bullish.

Blockchain analytics upstart Santiment, for instance, shared late last week that BTC’s Network Value to Transactions Ratio (NVT) remains “healthy.”

“In spite of BTC’s mild -4.4% downswing today, its NVT looks healthy, and our model is showing a semi-bullish signal. The amount of unique tokens being transacted on Bitcoin network is slightly above average for in May, according to where price levels currently sit,” blockchain analytics firm Santiment wrote.

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

Bitcoin & Crypto Tidbits

  • Goldman Sachs Talks Crypto Assets: On May 27, multinational investment bank and Wall Street giant Goldman Sachs held a call related to Bitcoin. Entitled “Implications of Current Policies for Inflation, Gold, and Bitcoin,” two executives at Goldman Sachs and a Harvard professor deliberated over BTC. They said that Bitcoin does not generate cash flow, does not hedge against inflationary risks, and does not “provide consistent diversification benefits given their unstable correlations.” The analysts added that the crypto can be used for crime, citing the PlusToken Ponzi scheme of yesteryear. Many are divided over the contents of the call, but there seems to be a silver lining: as one analyst explained, the fact that Goldman Sachs mentioned Bitcoin is a sign they’re hearing of it from their clients.
  • Chinese Yuan Slips, Boosting Bitcoin and Crypto Bull Case: U.S.-China relations were on the mend at the end of 2019, but this is changing with news of a new Hong Kong law. The law, many in the international community say, erodes the region’s autonomy that the mainland Chinese government promised to uphold until 2047. The U.S. has responded by threatening sanctions. The Chinese yuan, as a result, has sunk. This could benefit Bitcoin. Chris Burniske, a partner at Placeholder Capital, explained:

    “If China’s CNY continues to weaken against USD, then we could have a 2015 and 2016 repeat, where BTC strength coincided with yuan weakness.”

  • Early Bitcoin Miners Bashes Craig Wright: An early Bitcoin miner from 2019/2010 with access to tens of millions (and potentially over one hundred million) worth of BTC recently revealed that he’s still around. The owner of the coins signed the following message with his private key, indicating his latest views on developments in the Bitcoin space without revealing who he is:

    “Craig Steven Wright is a liar and a fraud. He doesn’t have the keys used to sign this message. The Lightning Network is a significant achievement. However, we need to continue work on improving on-chain capacity. Unfortunately, the solution is not to just change a constant in the code or to allow powerful participants to force out others. We are all Satoshi.”

  • Bitcoin Cash Looks Fundamentally Unhealthy, Top Crypto Analyst Says: According to prominent crypto analyst Yassine Elmandjra of ARK Invest, Bitcoin Cash is so fundamentally weak that he is surprised “we haven’t seen a large scale attack yet.” He cited three fundamental factors to back this assertion: Bitcoin Cash’s network hash rate is down 30% since its April halving, economic throughput has dropped to all-time lows, and it doesn’t cost that much from a macro perspective to attack the network.

Bitcoin Cash is not looking healthy:

-Hashrate down 30% since halving (& only accounts for ~2% of SHA256 hash)
-Economic throughput at all time lows
-Fees are .05% of miner rev (<$100/day)
-Theoretical 51% attack costs <$10k/hr

Surprised we haven't seen a large scale attack yet

— Yassine Elmandjra (@yassineARK) May 23, 2020

Featured Image from Shutterstock
Tweet123Share196ShareSend
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

Bitcoin

Bitcoin STH-SOPR Metric Reclaims Critical Level — More Pain For Short-Term Holders?

The price of Bitcoin has shown signs of resilience and strength over this weekend after facing significant bearish pressure heading...

Opeyemi Sule 7 hours ago
XRP

Why $50 XRP By December 2025 Isn’t ‘Hopium’ If ETFs Get Greenlight: Analyst

XRP’s price outlook is in focus as the US Securities and Exchange Commission lines up decisions on multiple spot ETF...

Christian Encila 9 hours ago
Ethereum

Ethereum Mirrors Bitcoin Post ATH Movement, As Market Bears Target 20% Correction

Popular crypto analyst and key opinion leader Ted Pillows has outlined an insightful trend in the Ethereum (ETH) market amidst...

Semilore Faleti 11 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

Santiment

Santiment Highlights Top Tokens: Bitcoin, Ethereum, And Dogecoin Dominate Social Buzz

Scott Matherson 1 hour ago
Bitcoin price

On-Chain Data Reveals Critical Support Levels For Bitcoin Price — Details

Opeyemi Sule 3 hours ago
Dogecoin ETFs kunnen volgende week starten - meme coin miljonair seizoen?

Dogecoin ETFs kunnen volgende week starten – meme coin miljonair seizoen?

Lars Diederiksen 4 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後4ドル到達の可能性、新興ミームプロジェクトが200万ドルICOに迫る

    ドージコイン...

    20 hours ago
  • 仮想通貨おすすめ:新興レイヤー2プロジェクトがプレセールで1,420万ドル突破

    ...

    20 hours ago
  • シバコイン 今後の可能性と、新たに浮上する注目のレイヤー2プロジェクト

    シバコイン...

    20 hours ago
  • ビットコイン 今後の展望:長期眠っていたBTCウォレットが突然52億円分を移動

    ビットコイン...

    22 hours ago
  • パイネットワーク 価格分析:バンド収束から爆発的上昇の可能性、ウォルコフ指標が点灯

    パイネットワーク...

    23 hours ago

Newsletter

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.