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  • Bitcoin dumps as a rumour goes round that Satoshi Nakamoto moved coins.

  • Banque de France and SocGen test digital euro

  • General sentiment is poor on Wednesday with all the majors trading lower

 

Bitcoin dumps as a rumour goes round that Satoshi Nakamoto moved coins.

The price of BTC/USD crashed around USD 472 as a rumor circulated that the infamous Satoshi Nakamoto moved some coins.

Around 50 Bitcoin that were mined in the first month of Bitcoin’s existence has been moved, according to a Decrypt report, worth close to USD 500,000.

There were only a few Bitcoin miners around at this time and this led the market to suggest these coins where from the Bitcoin creator. 

WhaleAlert, which is a twitter feed that tracks big cryptocurrency movements, wrote, “40 BTC (391,055 USD) transferred from possible Satoshi owned wallet (dormant since 2009) to unknown wallet.”

Binance CEO Changpeng Zhao even jumped on the bandwagon tweeting:

“Damn, shouldn’t have rejected that Satoshi Nakamoto KYC on Binance today. (Joking) Welcome back, Satoshi! Or whoever that OG is,”

 

General sentiment is poor on Wednesday with all the majors trading lower

Bitcoin is still trading 2.89% lower and the major sell-off for the session came as the aforementioned (Nakamoto) event took place. The price has moved off the session lows of 9484.74 and if the price closes anywhere near the current levels a lower high could possibly be confirmed. The main consolidation low stands at 9120.00 with a support area just above that close to 9261.23. 

Ethereum has also dipped lower in the session but is not near the psychological level of 200.00. The hourly chart has made a lower high lower low pattern and this indicates a move lower could be on the cards. The market found some support at 205.00 which is a level of resistance on the hourly chart. 

The chart structure in LTC/USD is even more bearish than that of BTC/USD and ETH/USD. The daily chart rejected a short term technical trendline and adding to this the daily chart could potentially be forming a head and shoulders formation which could also indicate a move to lower levels. 

Litecoin Head and Shoulders Patrern

 

Banque de France and SocGen succesfully test digital euro

The Banque de France and the French investment bank Societe Generale have tested the use of a blockchain platform to settle a transaction with a central bank digital currency.

It was reported earlier in the month that Societe Generale issued EUR 40 million of covered bonds as security tokens directly registered on a public blockchain.

The bonds were said to be fully subscribed by Societe Generale which simultaneously paid the issuer in a digital form of euros issued by France’s central bank through a blockchain platform.

This is a massive step forward and could convince sceptics that the transfer of euros could be safe and reliable with digitalization.