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Breaking News: ‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts
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Breaking News: ‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts

Bitcoin News: Revival Of “Satoshi Nakamoto” Account Could Signal Slump In BTC Price?

Reynaldo Marquez
Reynaldo Marquez
1 year ago
2 mins read
Bitcoin News BTC BTCUSDT BTC Price Bitcoin Price

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In recent Bitcoin news, the creator of the cryptocurrency, Satoshi Nakamoto, has been back in the spotlight. A recent email and the resurgence of an X account allegedly associated with Nakamoto attracted the crypto community’s attention, an event that could impact BTC’s price action.

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Bitcoin Price Sees Technical Correction But The Bulls Are Not Done Yet

1 year ago

As of this writing, Bitcoin trades at $27,600 after hitting a 24-hour high of $28,500 and losing momentum. The cryptocurrency rallied back to these highs, but a spike in selling pressure killed the upside price action in the short term.

Bitcoin news BTC BTCUSDT BTC Price
BTC’s price trends to the upside on the daily chart. Source: BTCUSDT on Tradingview

Bitcoin News Around Satoshi Nakamoto To Impact BTC Price?

Two Bitcoin news associated with Satoshi Nakamoto, the re-emergence of the satoshi handle on social media X, and an email sent to computer scientist Wei Dai have been making the rounds. Only two of these events are genuinely linked to the Bitcoin inventor: the email where Nakamoto expresses admiration for Dai.

One of the few living scientists referenced in the Bitcoin Whitepaper, Dai’s contribution to the invention of digital currencies with the creation of b-money. This page, along with Adam Back’s Hashcash, was one of the precedents for what later became the Bitcoin network.

The crypto community has celebrated the emergence of this historical document. As for the other event, the re-activation of the satoshi handle has attracted negative attention.

The account has been linked to potential fraudulent activity, turned into a meme, and even linked to suspicious individuals within the crypto space. One analyst even linked the account to a bearish event for the BTC price action.

In 2018, at the top of the Bitcoin bull run that took the cryptocurrency from its all-time high of $20,000 to fresh lows, the satoshi handle posted a link allegedly pointing to the Bitcoin Whitepaper. After that, the cryptocurrency’s price crashed to $3,100, as seen in the image below.

Bitcoin news BTC BTCUSDT BTC Price 2 chart
satoshi handle resurgence in 2018 led to bearish market. Source: HaloCrypto on X

Bitcoin Price Analysis, Bearish Momentum To Extend?

The Bitcoin price action and the re-emergence of this X account seem unrelated and more likely classified into the series of memes coming out of the event. However, the price of the cryptocurrency shows signs of further losses.

Related Reading

Bitcoin creator Satoshi Nakamoto

Bitcoin Creator Satoshi Nakamoto Sparks Speculation As Cryptic Email, X Account Resurfaces

1 year ago

As NewsBTC reported yesterday, based on data from QCP Capital, the recent rally was driven by seasonality and the approval of an Ethereum futures exchange-traded fund (ETF) in the US. The second of these events has been proven to operate as a bearish catalyzer for the crypto market. The trading firm said:

We would even go further to say a futures-only ETF is arguably detrimental to spot price – as it potentially directs demand away from the spot market into a synthetic market.

Cover image from Unsplash, chart from Tradingview

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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

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.

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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.

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