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

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

Posted at 11:02h in Cryptocurrency News by

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 —…

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