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In a tweet, Bitcoin historian Pete Rizzo shared a significant moment from 16 years ago about Hal Finney, one of the earliest Bitcoin pioneers working on Bitcoin when its value was still $0.
On Jan. 21, 2009, Hal Finney, a computer scientist and one of the first people to run Bitcoin software, tweeted about his work on Bitcoin. This tweet has resurfaced, attracting the interest of the cryptocurrency community. At that time, Bitcoin was a nascent project, and its value was essentially zero.
Finney had tweeted, "Looking at ways to add more anonymity to bitcoin." The unearthing of this 16-year-old tweet provides a glimpse into Bitcoin's early days. It also reminds the crypto community of the vision and dedication that have catapulted Bitcoin from obscurity to becoming a trillion-dollar asset.
Tomiwabold OlajideOn Jan. 12, 2009, Finney received the first Bitcoin transaction from Bitcoin's pseudonymous creator, Satoshi Nakamoto. His early contributions to Bitcoin’s development have left an indelible mark on the cryptocurrency's history.
Despite battling ALS, Finney continued to support and work on Bitcoin until his passing in 2014.
What indicators reveal on Bitcoin
Bitcoin's price has fluctuated significantly this week, rising to a new all-time high of $109,358 before plummeting and then settling over $100,000.
At the time of writing, Bitcoin was up 0.68% in the last 24 hours to $104,436, with a current market capitalization of $2.07 trillion.
According to Glassnode, Bitcoin's Binary Coin Days Destroyed (CCD) indicator suggests a decrease in activity by long-term holders. In practical terms, this suggests that sell-side pressure has subsided, and the market may require new catalysts to unlock supply.
In addition, long-term holders (LTH) are showing signs of returning to accumulation. Following a sharp sell-off at $100,000, Glassnode reported that the LTH supply is presently going upward. A similar trend was observed following the intra-cycle local peak in March of last year.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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