A statement believed to have been made by the pseudonymous creator of Bitcoin, Satoshi Nakamoto, on July 5, 2010, has been brought to light by Crypto historian Pete Rizzo.
This claim, which holds true now just as it did back then, is as follows: “Bitcoin eliminates the need for a reliable central server by utilizing a distributed network and cryptography. Avoid the arbitrary risk of centrally planned currency inflation. The total number of coins in circulation is 21 million.”
The revolutionary ideas of Bitcoin—decentralization, cryptographic security, and a limited supply intended to offset the inflationary pressures associated with fiat currencies—are summed up in this quotation.
In light of the timeless reality of these remarks. Rizzo says, “Satoshi Nakamoto on Bitcoin, precisely 14 years ago. True today, true at $0.01.” Given that Bitcoin still functions on the same foundation that Satoshi established more than ten years ago, this emotion reflects the idea that his goal is ageless.
✨ Exactly 14 years ago, Satoshi Nakamoto gave the first Bitcoin. Verified at $0.01, valid today. 😥
Since Satoshi’s declaration, Bitcoin has experienced tremendous change. Rising to prominence as the most popular cryptocurrency and a valuable asset that is sometimes referred to as “digital gold.”
Fourteen years ago, the value of Bitcoin was less than a cent. Since then, its value has increased dramatically, reaching a record high of about $73,700 in mid-March.
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The price movement of bitcoin
Since dropping from over $61,000 on Wednesday to about $54,000 early on Friday. There has been a small increase in the price of BTC, which is currently trading at $57,325. That is less than 23% of the all-time high of $73,750 reached in mid-March and down 6.62% from the previous week.
Recently, cryptocurrency expert Ali brought attention to the three-day chart of Bitcoin, and it seems the market is presenting bulls with a tasty setup. A bullish reversal doji candlestick, a traditional technical symbol that frequently piques traders’ interest in a trend reversal, is currently visible on the chart.
“Bitcoin looks like a snack in the 3-day chart,” observed Ali. The formation of a bullish reversal doji candlestick along with a TD Sequential buy signal.”
There may be a big price gain if these technical signals turn out to be genuine. The market is keeping a careful eye on these developments since a verified positive reversal can spur greater purchasing activity and raise the price.
