PakGazette – On January 10, 2009, history was made with the first Bitcoin-related tweet by pioneer and computer scientist Hal Finney.
Finney’s iconic “Running Bitcoin” tweet was highlighted by Bitcoin historian Pete Rizzo, who shared on X: “The first Bitcoin tweet, posted when the price was $0, exactly 16 years ago.”
Finney was an early Bitcoin user and on January 12, 2009, he received the first Bitcoin transaction from Satoshi Nakamoto, the pseudonymous creator of Bitcoin.
Finney’s first tweet about Bitcoin, sent 16 years ago, marked the beginning of a new era, as Bitcoin had no monetary value at the time. Fast forward 16 years, Bitcoin has become a global financial asset, with an all-time high of $108,268 on December 17, 2024.
As 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 world’s wealth.” Expanding on this logic, he determined a value of $10 million for the leading cryptocurrency.
What do indicators reveal about Bitcoin?
At the time of writing, BTC was down 0.83% in the last 24 hours to $94,507.
Bitcoin’s short-term fork (STH) cost basis model is a crucial indicator for gauging sentiment among new investors. Historically, this model has followed market lows during bull cycles and distinguished between bull and bear markets.
According to Glassnode, BTC price is currently almost 7% above STH’s cost base of $88,135. If the price stabilizes below this level, it may indicate a decline in sentiment among new investors, which is usually 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 the network’s liquidity. This implies that mature investors have distributed coins significantly during the rally, with new demand offsetting selling pressure.
