NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%

Bitcoin Rallied 28% Two Weeks After Satoshi-Era Coins Moved in 2017

Cole Petersen
Cole Petersen
5 years ago
2 mins read

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.

So-called “Crypto Twitter” was set ablaze today by an unusual 50 Bitcoin transaction made by a Satoshi-era wallet from 2009 that has been dormant for over a decade.

News of this initially led many to speculate that this could be the cryptocurrency’s elusive founder – Satoshi Nakamoto –moving his holdings, but later data suggests that this is not the case.

It now appears that it was likely an early miner or adopter who is moving this cryptocurrency, and one original Bitcoin developer is noting that there could be a whole host of suspects to whom the wallet could belong to.

It is important to note that the last time Bitcoin from this era moved, the cryptocurrency posted a 28% upswing in the two weeks following.

Satoshi-Era Bitcoin Moved This Morning Does Not Belong to the BTC Creator

The prospect of Satoshi Nakamoto moving his cryptocurrency is alarming, as it is estimated that he owns roughly 1 million BTC.

The unlikely sale of these tokens on the market could severely damage investor sentiment while also placing massive selling pressure on the benchmark cryptocurrency.

As such, many were relieved to learn that these tokens were not from Satoshi himself, and that there is a myriad of individuals who could have owned the 50 BTC.

Martti Malmi – an early Bitcoin developer who first discovered the cryptocurrency in April of 2009 – rebuked a report claiming that there are only a few people who could own the wallet.

“Nope. Bitcoin was announced on the cryptography mailing list in January 2009 and many people could have tested it. I found Bitcoin around April,” he explained.

If History Repeats, BTC Could See a Rally Following Today’s News-Related Selloff 

News of these coins being moved quickly led Bitcoin’s price to decline to lows of $9,300 on BitMEX, marking a $500 decline from where it was trading at earlier in the day.

This appears to have been a notable overreaction to the news, which could mean BTC is poised to recover promptly.

One interesting trend seen in the past is that Bitcoin’s price has rallied after Satoshi-era coins are moved.

Avi Felman, an investor at BlockTower Capital, spoke about this in a recent tweet, explaining that BTC’s price rallied 28% in the two weeks following some 2009-era Bitcoin being moved in 2017.

“The last time coins this early moved, BTC sold off ~3% then rallied 28% over the next two weeks. Don’t sweat too much.”

Bitcoin
Image Courtesy of Avi Felman

Of course, it’s impossible to say whether or not there is a causal link between the rally and the movement of the tokens, but it is possible that today’s selloff will trap some bears due to it being an unwarranted knee-jerk reaction to the news.

Featured image from Shutterstock.
Tweet123Share211ShareSend
Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

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.

Related News

Aave price

AAVE Price Reclaims $320 As TVL Metric Shows Positive Divergence — What’s Next?

After hovering around the $300 mark at the start of this week, the Aave price appears to have finally broken...

Opeyemi Sule 8 hours ago
Dogecoin

Dogecoin In Buy Zone: Bulls Eye $0.34 As Immediate Target

Amidst a bullish crypto market, Dogecoin (DOGE) prices have surged by nearly 7% in the last day, crossing the $0.280...

Semilore Faleti 10 hours ago
Solana, Monero, SUI, pump.fun, chainlink

Solana Eyes Massive Breakout Amid $240 Retest, But Analyst Issues Crucial Market Warning

Solana (SOL) could be near the long-awaited price discovery phase after climbing to a seven-month high. However, an analyst suggested...

Rubmar Garcia 15 hours ago
Load More

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.

Related News

Crypto

Crypto Pundit Gives Reasons Why Investors Should Be Extra Bullish On XRP

Scott Matherson 2 hours ago
2m maxi doge (1)

Maxi Doge – Πάνω από 2 εκατομμύρια στο Presale – το νέο Dogecoin με προοπτική 100x

Ανθή Ντόνκοβα 3 hours ago
Ethereum

Is Ethereum Currently Undervalued At $4,700? NVT Reading Suggests So

Opeyemi Sule 4 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の展望:ビットコイン提携とETF開始で次の暗号資産の巨人となるか

    ドージコイン...

    11 hours ago
  • 鯨が一晩で4,000万XRPを売却、リップル 今後は3ドルのサポートを維持できるか

    鯨が一晩で4,000万XRPを売却、リップル...

    11 hours ago
  • 暗号資産トレジャリーの苦境とQ4に狙う仮想通貨プレセール

    ...

    12 hours ago
  • 10月に上昇が期待される仮想通貨おすすめ6選

    ...

    12 hours ago
  • 新しい仮想通貨が投資家を最速で億万長者に導く ― 既存の「買うべき仮想通貨」を超えて

    ...

    12 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

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.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.