Cryptocurrency News for Today May 28

  • Bitcoin and Ether are heavily undervalued, experts say

  • Traditional banks still fail to see Bitcoin’s potential

  • Russians are investing in investment assets despite the crisis

International consortium of news organizations developing transparency standards.

Goldman will outsmart everyone, and instead of recommending buying bitcoin as a defense against imminent inflation, he advised staying away from it. Japan is preparing to dump money from a helicopter, and the crypto industry is hoping that it also gets something. At least the Americans who got their helicopter money carried it to Coinbase. In Russia, no one distributes money, but there is still a boom in investment activity.

Read about the situation in the cryptocurrency market, as well as about the key events that have occurred in the cryptocurrency industry over the past day, in our daily digest..

Crypto market held its breath amid the largest distribution of “helicopter money”

Japan will provide unprecedented economic support to the population with an additional trillion dollars in stimulus. Prime Minister Shinzo Abe has doubled Japan’s stimulus measures in a bid to deliver on his bold promise to keep businesses and households afloat with the world’s largest coronavirus response package. On Wednesday, the country’s cabinet approved a $ 1.1 trillion economic stimulus, Bloomberg reported.

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Bitcoin is “not good for investment” – Goldman Sachs

Despite the recent rally, Goldman Sachs hasn’t been recommending customers to buy bitcoin anytime soon. Earlier, the global investment bank said that cryptocurrency is “not an asset class” and “not suitable for investment.” This was recently announced by Digital Currency Group founder and CEO Barry Silbert, who tweeted that he had seen slides from the upcoming meeting. Instead of assessing the role of Bitcoin in the economy, of which medium-term high inflation is an integral part, the bank abandoned cryptocurrency. More details

Investment fever recorded in Russia despite the crisis

Cryptocurrency News for Today May 28

The number of investors on the Russian stock market has already grown to 5 million. Despite the economic downturn, the number of persons interested in brokerage services in the first quarter grew by 17.8%, reaching 5 million persons, the Bank of Russia reports. The main reason for the increase in investment activity, according to the regulator, was the market volatility that arose due to the destructive effects of coronavirus infection around the world. More details

Ethereum is underrated by the community, says Blockfyre

Analysts at Blockfyre conducted their own study of the development of the Ethereum ecosystem and came to the conclusion that the coin is trading several times lower than it should. At the same time, in their report, the experts emphasize 4 factors that indicate that ETH has made tremendous progress in its development. More details

Bitcoin must trade at least $ 11,500

This is evidenced by the data of the analytical report from JP Morgan. The company’s experts analyzed the cryptocurrency market after the halving and came to the conclusion that bitcoin is trading at least 25% cheaper than it should. More details


Cryptocurrency News for Today May 28



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