Satoshi Nakamoto (also known as Satoshi Nakamoto) is the creator pseudonym of Bitcoin.BTCSatoshi, the owner of the most BTC in the world as of the date of writing this article, has suffered an unrealized gain of more than $20 billion in value since early October when the price reached its all-time peak of $126,000.
Nakamoto’s Bitcoin stash According to estimates, Bitcoin is worth over $117.5 Billion at this time. data Arkham Intelligence
Portfolio grew to $136 billion in the last year Bitcoin’s rally to new all-time highs More than $126,000 was raised during the first weeks of October.
The crypto market was a booming business. rocked by cascading liquidations The perpetual futures markets were reportedly raging on the 8th of October, fueled by the aforementioned occurrence. post Donald Trump: signaling added tariffs on ChinaInvestors were alarmed by the renewed fears of trade war.
Market turmoil caused $20 billion in liquidationsThe worst 24-hour event ever in crypto history sent prices plummeting, and the value of certain altcoins dropped by more than 99%. Bitcoin, however, showed resilience and remained above $100,000.
Related: Precious metals trade ‘overheated,’ investors to rotate into BTC: Analyst
A market crash can be a temporary setback. It does not mean that fundamentals have to change.
Market crash began October 8, 2009. only a short-term decline The following are some examples of how to get started: “does not have long-term fundamental implications,” According to The Kobeissi Letter’s investment analysts.
The market collapse was caused by a number of technical factors, such as excessive leverage and thin liquidity in the markets, which exacerbated the volatility, and the effects of sudden, large moves. Also, Trump’s post on social media, The Kobeissi Letter, contributed. wrote.
“We think a trade deal will be reached, and crypto remains strong. We are bullish,” The analysts continue.
The Kobeissi Letter had stated a few days earlier that the US dollar and Bitcoin reached their highest levels at about the same time. weakest year since 1973This signals an important macroeconomic change.
A unique phenomenon is that the price of risk-on assets, such as BTC and gold, are rising at the same rate as the prices of store-of value assets. These asset classes usually run in opposition to one another, and this adds further weight to Kobessi’s macroeconomic thesis.
Magazine: Sharplink exec shocked by level of BTC and ETH ETF hodling: Joseph Chalom
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Source: cointelegraph.com
