Wednesday, June 7, 2023
  • Home
  • Crypto
  • DEFI
  • NFT
  • Press Release
  • Contact Us
No Result
View All Result
No Result
View All Result
Home News

Bitcoin Price Hits $9.5K Despite Criticism Expressed By Mainstream Bank ⋆ ZyCrypto

Betty Snyder by Betty Snyder
May 28, 2020
in News
0
Bitcoin Price Hits $9.5K Despite Criticism Expressed By Mainstream Bank
587
SHARES
3.3k
VIEWS

Advertisement
&nbsp

&nbsp
On May 28, Bitcoin hit the $9.5K benchmark, being up by nearly 5% from the previous day. This comes right after an expression made by Goldman Sachs during its client call, where the topic was practically centered on cryptocurrencies, most specifically Bitcoin stayed in the focus of the discussion.

At the end of the day, Bitcoin was labeled as too insecure to be dealt with by clients of the investment bank. The discussion concluded with Goldman Sachs making a statement that Bitcoin is “not an asset class”.

You might also like

Prime Minister of Vietnam visits Genetica: Propelling Vietnam to the forefront of Asia’s Biotech Industry

FUNToken Announces a New pair on Binance – FUN

Meta Cricket League” – World’s First NFT Cricket Game All Set to Release Its Maiden NFT Collection

This raised a wave of skepticism in the crypto community, which resulted in a bearish mood having its touch on the market.

However, contrary to confusion stirred in the community by the investment bank’s statement, Bitcoin price daily gain went to 5%+ versus the previous trading day.

BTCUSD Chart By TradingViewTo cryptocurrency adherents, this came out to be an unexpected price turn. Tyler Winklevoss, a well-known American cryptocurrency investor, co-Founder, and CEO of crypto exchange Gemini, commented on Bitcoin’s unanticipated price behavior. 

Day after Goldman Sachs says don’t buy bitcoin, bitcoin is up +$500. 🤔— Tyler Winklevoss (@tylerwinklevoss) May 28, 2020
Bitcoin price and future outlook

It seems positive expectations with regard to Bitcoin have started getting back in place after the weekly period of frenzy when the price of the digital currency went as low as $8.7K. The highest price fixated in May held at the $10k price mark on May 7 but did not progress any further.

The reason for that could be the Bitcoin halving event that occurred on May 11, when the price of the cryptocurrency hit the month-lowest $8.6K mark. However, the effect was not as severe as expected, and just 3 days later the price jumped nearly 14% to the benchmark of $9.8K.

Now, investors are building plans on how the world’s most sought-after cryptocurrency will perform in the future. Some say that $9.7K is the next achievable level, while resistance remains at the $10K level. Another positive forecast tells that the Bitcoin price may climb close to $12K during the year. This shows rather moderate expectations to what was previously expressed by market pundits making bets for the $14k level just a few months earlier. 

How this will all unfold, remains to be seen. For now, traders are still confused on whether Bitcoin’s halving will stir bullish or bearish sentiment on a longer time span, however, there’s still hope that the post-halving euphoria of 2017 will repeat when the price of the cryptocurrency surged 2,000% in a course of few days.

Get Daily Crypto News On Facebook | Twitter | Telegram | Instagram
DISCLAIMER Read MoreThe views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Previous Post

Wall Street Is Buying Vast Amounts Of Bitcoin Despite Goldman Sachs’ Anti-Crypto Attitude ⋆ ZyCrypto

Next Post

Deflation, Not Inflation, Will Unleash Bitcoin Prices

Betty Snyder

Betty Snyder

I’m a cryptocurrency and blockchain technology writer. My work has been featured in major publications such as CoinDesk, Bitcoin Magazine, and VentureBeat. I’ve been a respected voice in the cryptocurrency community and my insights into the industry have helped shape its development.

Related Posts

Prime Minister of Vietnam visits Genetica: Propelling Vietnam to the forefront of Asia’s Biotech Industry
News

Prime Minister of Vietnam visits Genetica: Propelling Vietnam to the forefront of Asia’s Biotech Industry

by Alverta O'Conner
March 14, 2023
FUNToken Announces a New pair on Binance – FUN
News

FUNToken Announces a New pair on Binance – FUN

by Alverta O'Conner
April 22, 2022
Meta Cricket League” – World’s First NFT Cricket Game All Set to Release Its Maiden NFT Collection
News

Meta Cricket League” – World’s First NFT Cricket Game All Set to Release Its Maiden NFT Collection

by Alverta O'Conner
April 21, 2022
Blockchain game StarMon announced important news on “NFT SEOUL 2022” in Korea. A new gameplay model will be launched
News

Blockchain game StarMon announced important news on “NFT SEOUL 2022” in Korea. A new gameplay model will be launched

by Alverta O'Conner
January 21, 2022
Blockchain

Metathon is calling for amazing DEVs and Degens!

by Betty Snyder
December 3, 2021
Next Post
Deflation, Not Inflation, Will Unleash Bitcoin Prices

Deflation, Not Inflation, Will Unleash Bitcoin Prices

  • Why must you pick a white label crypto exchange solution than developing a new one?
  • Bitcoin Product Demos During the Halving – Bitcoin Magazine
  • Whitelabel Cryptocurrency Exchange platform and it’s 4 salient features!
  • Despite Chaos, The Next BTC Price Rally Could Be Spurred By This Little-Known Bitcoin Indicator
    Crypto Pundit reveals what will likely ignite another parabolic Bitcoin Rally ⋆ ZyCrypto
  • Which is Best Crypto Trading Bot Platform?
  • CoinSwap Space first DEX to provide crypto purchases directly onto any non-custodial wallet via Ramp Network

    CoinSwap Space first DEX to provide crypto purchases directly onto any non-custodial wallet via Ramp Network

    3772 shares
    Share 1509 Tweet 943
  • Altseason Pushed Further Back As Top Altcoins Fall Under Bitcoin’s Spell ⋆ ZyCrypto

    3738 shares
    Share 1495 Tweet 935
  • Filecoin and Polygon Deploy Interoperable Bridge To Expedite Web 3 Development

    3545 shares
    Share 1418 Tweet 886
  • The Cost Of Transacting With Bitcoin Has Dropped By Almost 90% Within A Month ⋆ ZyCrypto

    3320 shares
    Share 1328 Tweet 830
  • CoinSwap Opens Up New DeFi Opportunities With Their Certik Approved DEX

    3032 shares
    Share 1213 Tweet 758

About

Cryptoate site is a comprehensive resource for everything related to cryptocurrency and blockchain. We aim to be a one-stop solution for all your crypto and blockchain news and events.

Email: admin@cryptoate.com

Recent Posts

  • Securing Blockchain Technology-DeFi: Challenges & Solutions
  • DEGA Revolutionizes Fundraising with their Gamified Multichain Initial Stakepool Offering
  • Understanding Smart Contracts: The Foundation of DeFi Lending
  • Discover Staking Risks and Considerations
  • Bug Bounty Program Governance and Policy Frameworks

Catagories

  • Mining
  • Crypto
  • Press Release
  • Price Analysis
  • Cryptocurrency
  • Trading
  • Cryptocurrencies
  • Blockchain

Calender

June 2023
M T W T F S S
 1234
567891011
12131415161718
19202122232425
2627282930  
« May    
  • About Us
  • Contact Us

Associated with Blockchain Press Media Network.

No Result
View All Result
  • Home
  • Crypto
  • DEFI
  • NFT
  • Press Release
  • Contact Us

Associated with Blockchain Press Media Network.