Bitcoin: Is Satoshi Nakamoto finally returning?

Bitcoin: Is Satoshi Nakamoto finally returning?

Cryptocurrencies: A crypto wallet containing a whopping 321 Bitcoin was recently reactivated. It is said to have been dormant for a total of eight years. That is, exactly from when the Bitcoin founder retired from the scene.

This is shady news for the Bitcoin community, as it not only affects the Bitcoin price, but also the speculation surrounding Satoshi Nakamoto. Because of this, cryptocurrency has also made its way into casinos as slot games with buy bonus.

Speculation about the reactivation of the Bitcoin wallet

The crypto community on Twitter is divided over the reactivation of the wallet. It is not clear who the owner is. What is clear, however, is that the wallet owner thus became a millionaire overnight. At the time, the investor probably put down around 6,600 US dollars for his crypto investment. Today, this corresponds to a bitcoin value of $16 million. Is there more to this than a relaxing retirement in the Maldives?

Some Twitter users take this event as an indication of Satoshi Nakamoto's return. This is mainly because this and other old wallet addresses date back to the time of his disappearance. Other users in the Bitcoin community, however, have simpler explanations. According to them, a person or a group of people merely rediscovered the password for the wallet.

How does the wallet reactivation affect the Bitcoin price?

Simply put, crypto exchanges work on the supply and demand principle. The more Bitcoins that are bought while the coin holdings remain the same, the higher the price will rise. Conversely, this also means that if the market is flooded with new Bitcoins and demand stays behind, the price will drop.

When reactivating a wallet with 321 Bitcoin, the holder is also generally referred to as "Wale" or "Whales". This makes the investor one of the most influential players in the market. If this person now puts his investment up for sale, a significant price correction is imminent, reported https://popstar.one/news/gamblers-in-show-business/1042875.

Therefore, it is not surprising that Bitcoin fans are particularly upset at the moment. Several unknown participants have positioned themselves in the market to throw a spanner in the Bitcoin enthusiasts' works at the end of the year. Will the positive price jump at the end of the year fail to materialize?