Some days there’s almost nothing interesting to say about the Bitcoin and its price. Luckily for our readers, today’s not such a day since the world has been shocked with the revelation of the possible inventor of the cryptocurrency widely known as Satoshi Nakamoto.
As if this information hasn’t been enough, we also witnessed a high price jump of the Bitcoin. Therefore, if on Monday a single coin’s worth was something less than $400, today one Bitcoin’s price is over $420. The growth is probably closely related to the unmasking of Satoshi Nakamoto, even though it’s not official that the named 44-year old Australian entrepreneur really is the inventor of Bitcoin.
Australian Craig Steven Wright Named as Bitcoin Inventor
So, the main question is who was pointed out as Satoshi Nakamoto i.e. father of Bitcoin? Well, both Wired and Gizmodo have mentioned a 44-year old Australian entrepreneur called Craig Steven Wright. However, while Wired is mainly focused on Wright only, Gizmodo revealed that Wright had a partner named Dave Kleiman. Kleiman used to be an American computer forensic expert and he died in 2013. Wright, on the other hand, is said to hold a couple of doctorates and two master’s degrees (in law and statistics).
Both sources did a fair share of research and published evidence that Wright is Satoshi Nakamoto indeed. Some of the evidence include blog posts where he announces the launch of the Bitcoin, while other focus on his connection to Kleiman. Several hours after the information hit the public, Wright’s home near Sydney was raided by around 10 police officers; authorities said that the raid wasn’t related to the Bitcoin claims.
Nevertheless, WikiLeaks has posted a Tweet saying that it was highly unlikely for Craig S Wright to be the “principal coder behind Bitcoin.” However, the organisation did say that Wright may have been involved in other ways of “greater or lesser significance.”
Trading Price around $420
Two days ago there was a light signal to sell and that was a reason enough to believe the Bitcoin price was going to note a further growth. However, what was unexpected was the size of the jump that noted almost 20 points. If on Monday the trading Bitcoin price on our chart was $393.8, today it’s $428.92.
The day’s range shows pretty good numbers as well. Taking a look at the day’s low we can see the Bitcoin’s value hasn’t fallen under $387, while the day’s high reveals the Bitcoin reached $423.34. This brings improvement in all other statistics; thus, the year to date change jumped to 33.5%, the market cap settled at $5.89 B and the volatility is over 16% again with a value of 16.24%.
Taking into account the latest event with revealing the possible identity of Satoshi Nakamoto as well as the unexpected price increase of almost $20, it’s not surprising to see all technical indicators and moving averages signalling traders to buy. Eight out of 11 technical indicators including the RSI, MACD and the ROC are pro-buy; in comparison, zero are pro-sell and three are neutral. Twelve out of 12 moving averages signal traders to buy with their values under $418.
With these numbers in mind, we can place the intraday support level at $385 and the intraday resistance level at $425. Depending on how the situation with Wright unravels, there could be another price jump in near future. Thus, try to stay well informed and react fast to any changes that might happen.