The post of the “resurrected” Bitcoin creator Satoshi Nakamoto influenced the crypto market

Published after five years of silence, the post of Bitcoin creator Satoshi Nakamoto, posted on the morning of October 2 on the social network, collected 2.4 million views. The appearance of a mysterious programmer or those hiding behind this pseudonym could not help their brainchild, but added intrigue to the market. MK found out from experts what is happening with the Bitcoin exchange rate and who might be hiding behind the name of the programming legend.

The previous message from Satoshi Nakamoto was also published in October, but on the 31st of 2018. And now, almost five years later, the mysterious programmer made himself known again. The message from the account, allegedly belonging to Satoshi Nakamoto, calls for thinking about the future of the project of the world’s most famous cryptocurrency.

“Over the next months we will explore various aspects that were not included in the white paper of the project,” the tweet reads. Let us recall that in the English-speaking environment this is what is called a “finished draft” of a project, that is, a marketing document of a non-advertising nature, which differs from the rest, primarily from “drafts”, by a detailed study of the topic, where all theses are usually supported by the results of our own research or statistics collected from reliable sources. It is used to draw up business plans for expanding a product to the market.

“These aspects are part of the solution and are very important,” Nakamoto continued. — Some of these ideas were touched upon in the early years of Bitcoin; now is the time to extrapolate and explain them.”

The statement caused a flurry of comments. Some readers asked the creator of Bitcoin for details. Other social network users were skeptical about the appearance of the post and asked each other whether it was written by the real Satoshi Nakamoto or whether it was a fake.

BitRiver financial analyst Vladislav Antonov states: “At the beginning of October 2022, Bitcoin was trading at $19.6 thousand, currently its average market rate is $27.6 thousand. Over the past year, the cryptocurrency has risen in price by 40.8%. At the same time, it continues to trade significantly below the historical high of $69 thousand, which was set in November 2021.”

According to Roman Nekrasov, co-founder of the ENCRY Foundation, the return of the mysterious figure of the creator of the first cryptocurrency caused great excitement among market participants. This unexpected announcement refocused the community’s attention on where Bitcoin came from and sparked interest in exploring aspects of it that were not clearly described in the white paper that Satoshi talks about.

Paradoxically, so far this news has had the greatest impact not on the price of Bitcoin, but on the price of its fork Bitcoin SV (BSV). A fork is the result of the process of separating an existing blockchain into several branches, that is, based on the original Bitcoin blockchain, a new coin is created with improved characteristics of Bitcoin itself, and this is what we are talking about its price.

In the last 24 hours, the price of BSV has increased by a crazy 20%. This price movement suggests that investors and traders are reacting in their own way to the post of the “famous Japanese” and its consequences for the future of Bitcoin, and many are betting on the fork rather than the original cryptocurrency.

“Now that Satoshi Nakamoto has reappeared and expressed a desire to explore various aspects of Bitcoin, we can expect increased speculation and discussion about the real identity of this Japanese,” Nekrasov believes. “Claims from former nChain CEO Kristen Ager-Hanssen that the account was taken over by Craig Wright added a new layer of intrigue.” The market can expect ongoing debate and analysis on the authenticity of this statement and the potential impact it could have on the future development of Bitcoin.

Overall, the resurrection of Satoshi Nakamoto has revived interest in Bitcoin and created a sense of anticipation in the cryptocurrency market. As the crypto community explores the implications of this post and potential exploration of new ideas related to Bitcoin, it is likely that members of the crypto community will see increased activity and volatility in the market.

Interestingly, yesterday Bitcoin experienced a significant price rebound, after which it returned to $28 thousand, and then experienced a correction again. The reason may be that large investors, known in the crypto community as “whales,” have conducted several large-scale transactions with Bitcoin in recent days.

As a result of transactions, the volume of which ranged from $187 to $346 million, the supply of Bitcoin on exchanges since September 1 decreased from 5.99% to 5.73% – this is the lowest figure since December 2017. “Whales” also moved massive volumes of Bitcoin to leading cryptocurrency exchanges, Nekrasov pointed out. The current rate is $27,619 due to fluctuations believed to be caused by large whale transactions.

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