Bitcoin (BTC) Cooling Down After Impressive Gains, Satoshi Quest

Dalmas Ngetich

1 year ago

2 mins read

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Bitcoin prices stretched, down 2.1 percent
John McAfee, a BTC supporter, in direct contact with Satoshi

Satoshi has spoken to John McAfee, and he is unhappy that the talented technologist is after uncovering him, ten years after mining the first Bitcoins. With this revelation, Bitcoin (BTC) prices are stable but down 2.1 percent in the last day.

Bitcoin Price Analysis

Fundamentals

The discussion around the true identity of Satoshi Nakamoto, the anonymous founder of the multi-billion platform in Bitcoin, is always an interesting debate. While it is good that the network is as decentralized as it is with no figureheads—unlike Tron or Ethereum for example, the quest for cracking open the seal and pinpointing the brains behind Bitcoin is on and promise to be another thriller for curious followers. After Craig Wright’s decision to slap critics with lawsuits and consequent de-listing from Binance and several other exchanges, there is a new lead from a Bitcoin supporter and perma-bull, John McAfee.

John McAfee, the often outspoken and eccentric leader behind a successful McAfee Antivirus now claims to know, with confidence, who Satoshi Nakamoto is. Although facing extradition from the Bahamas and concurrently planning to run for the presidency, John told Bloomberg that he would “out “Satoshi in weeks before retracting his comments because he had “talked with Satoshi” and the elusive founder was apparently “unhappy with his efforts”:

“I’ve spoken with him, and he is not a happy camper about my attempt to out him.”

Adding that:

“Releasing the identity of Satoshi at this time could influence the trial and risk my extradition. I cannot risk that. I’ll wait.”

Candlestick Arrangements

Exchanging hands at above $5,400, Bitcoin (BTC) is firm and up 4.7 percent in the last week. Even so, bears are back in a correction, heaping pressure on the coin which as a result is down 2.1 percent at the time of press.

Nonetheless, prices are trending above critical resistance levels. Even if traders need prices to firm-up above $5,400 before the next wave of higher highs thrust prices to $5,800, $6,000 effectively reversing losses of Q4 2018, it is imperative that participants keen prices above $5,000.

By doing so, buyers of early Apr will be in control. Besides, with BTC trading within a bullish breakout pattern evident in the weekly charge, the path of least resistance will be up as every dip is another buying opportunity.

Technical Indicators

There is a slight over-extension in the daily chart since yesterday’s close is above the upper BB. Regardless, buyers are in control, and from an effort versus result point of view, confirmation of Apr-2 buyers must be with high volumes closing above Apr-23 highs with high volumes exceeding 19k of Apr-11.

Chart courtesy of Trading View

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.