As a seasoned crypto investor with a decade of experience under my belt, I find myself in awe of the incredible journey Bitcoin has taken since its humble beginnings. Back when it was just a concept, a $0 digital currency dreamt up by an anonymous genius, I must admit I had my doubts. However, as we stand here today with Bitcoin reaching new heights and surpassing even the wildest predictions, I can’t help but feel vindicated.
Delving into the world of cryptocurrencies once more, I find myself reflecting on the resurgence of Bitcoin as it sets yet another record high. Remarkably, these heights bring renewed attention to the words penned by the enigmatic figure known only as Satoshi Nakamoto – a reflection that ripples through the crypto community, sparking thought and debate.
16 years ago on November 6th, Bitcoin’s value was zero according to its creator, as shared by historian Pete Rizzo in a tweet. Today, however, the value of Bitcoin has reached an unprecedented peak of $75,410.
✨ Satoshi Nakamoto on the power of #Bitcoin at $0, exactly 16 years ago
— The Bitcoin Historian (@pete_rizzo_) November 6, 2024
Rizzo’s statement reveals that Satoshi firmly believed in Bitcoin’s potential, despite the fact that it hadn’t been released yet and held no financial worth. Essentially, Satoshi expressed his ideas about Bitcoin in a concise manner at that time.
Satoshi Nakamoto made his influential statement about Bitcoin just shy of a week following the release of the Bitcoin whitepaper.
On October 31st, 2008, the mysterious inventor of Bitcoin published the Bitcoin blueprint, paving the way for the world’s first and largest digital currency. This digital currency, known as Bitcoin, officially went live a year later on January 3rd, 2009, when Nakamoto mined the very first block in the chain, which is famously referred to as the genesis block.
today, with Bitcoin hitting record prices, the prophecy made by Satoshi Nakamoto regarding its potential – initially when it had no value – continues to hold true.
Crypto market faces $592 million in liquidations
In simple terms, a large amount of cryptocurrencies – about $592 million worth – have been sold off due to a surge in liquidations, despite the wider market continuing its upward trend.
Over the past day, there’s been a blend of buy and sell orders getting closed out on different trading platforms. This surge in closures coincides with a period where multiple cryptocurrencies are showing substantial growth. Notably, Bitcoin has reached a record peak of $75,410 and is currently being traded at $73,717 as we speak.
Based on data from CoinGlass, there were $212 million in liquidations for those who placed bullish wagers, compared to traders who thought the cryptocurrency price would decrease further facing liquidations totaling $365 million.
The largest single liquidation order happened on Binance – a BTCUSDT trade worth $74.98 million.
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2024-11-06 18:49