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.
On Jan. 10, 2009, history was made with the first-ever Bitcoin-related tweet by early Bitcoin pioneer and computer scientist Hal Finney.
Finney's iconic tweet "Running Bitcoin" was highlighted by Bitcoin historian Pete Rizzo, who shared on X, "The 1st Bitcoin tweet, posted when the price was $0, exactly 16 years ago."
Finney was among the earliest Bitcoin users, and on Jan. 12, 2009, he received the first Bitcoin transaction from Satoshi Nakamoto, Bitcoin's pseudonymous creator.
Finney's first Bitcoin tweet, sent 16 years ago, marked the beginning of a new era, as Bitcoin had no monetary value at the time. Fast forward 16 years, and Bitcoin has become a global financial asset, with an all-time high of $108,268 on Dec. 17, 2024.
Tomiwabold OlajideAs reported, Finney predicted that if Bitcoin became the world's dominant payment system, its value "should be equal to the total value of all the wealth in the world." Extending this logic, he determined a value of $10 million for the leading cryptocurrency.
What indicators reveal on Bitcoin
At the time of writing, BTC was down 0.83% in the last 24 hours to $94,507.
Bitcoin's Short-Term Holder (STH) cost-basis model is a crucial indicator for gauging sentiment among new investors. Historically, this model has tracked market lows during bull cycles and distinguished between bull and bear markets.
According to Glassnode, the BTC price is presently nearly 7% above the STH cost-basis of $88,135. If the price stabilizes below this level, it may indicate dwindling sentiment among new investors, which is often a turning point in market trends.
Meanwhile, the percentage of Bitcoin wealth held by new investors (coins less than three months old) has increased, accounting for 49.6% of network liquidity. This implies that mature investors have meaningfully distributed coins throughout the rally, with new demand offsetting sell-side pressure.
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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