By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoXTimesCryptoXTimes
  • Home
  • News
    • Crypto
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • Shiba Inu News
    • Ripple News
    • Analysis
    • iGaming News
  • Cryptocurrency
    • Price Prediction
    • Learn
    • Reviews
  • Advertise
    • Press Release
  • Contact Us
Notification Show More
Font ResizerAa
CryptoXTimesCryptoXTimes
Font ResizerAa
  • Home
  • News
  • Cryptocurrency
  • Advertise
  • Contact Us
Search
  • Home
  • News
    • Crypto
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • Shiba Inu News
    • Ripple News
    • Analysis
    • iGaming News
  • Cryptocurrency
    • Price Prediction
    • Learn
    • Reviews
  • Advertise
    • Press Release
  • Contact Us
Have an existing account? Sign In
Follow US
© 2024 CryptoXtimes. All Rights Reserved.
CryptoXTimes > Article > News > Bitcoin’s Resilience Echoes Satoshi’s Original Vision
NewsBitcoin News

Bitcoin’s Resilience Echoes Satoshi’s Original Vision

Ki Young Ju settles Bitcoin debate, emphasizes resilience.

Rubab Fatima
Last updated: August 6, 2024 1:21 pm
Rubab Fatima 10 months ago
Share
Bitcoin's Resilience Echoes Satoshi's Original Vision

Ki Young Ju, the founder and CEO of CryptoQuant, an on-chain data aggregator, has talked about the ongoing argument about Bitcoin’s place in the financial markets. 

Ki Young Ju clarified matters for the cryptocurrency community by referencing a point he believes Satoshi Nakamoto, the creator of Bitcoin, made.In a recent tweet, Ki Young Ju talked about how divided the Bitcoin trading community is. 

#Bitcoin investors are split: some see it as tech stock, others as digital gold.

Digital gold believers stay steady, while tech stock believers panic sell and switch to gold in bad macro. We don’t need them.

BTC should rise in tough times—that's Satoshi's original intent.

— Ki Young Ju (@ki_young_ju) August 5, 2024

He stated that buyers primarily divide into two groups: those who perceive Bitcoin as a tech stock and those who view it as digital gold. Both groups buy and hold BTC with enormous enthusiasm, but their responses to market chaos are very different.

Bitcoin Price Movement Insights


According to Ki Young Ju, people who support tech stocks often sell in a panic and buy gold in real form when the market goes down. “We don’t need them,” he asserted, emphasizing that Satoshi Nakamoto intended BTC to thrive in challenging times from its inception.

Cryptocurrency trader and analyst Ali Martinez provided information about the current setup of the Bitcoin market that supports this view. Martinez put out a picture that showed BTC making a rising wedge pattern, which is usually a sign that prices are going down. 

He said that the price might go down to $51,000, even though it could go up quickly to $56,000 or $57,000 from where it is now, $55,172.Martinez had already highlighted an intriguing mood in the market. 

Despite institutional purchases of Bitcoin reaching all-time highs, the market remains gripped by “extreme fear.” After a significant 18% drop at the beginning of the week, when BTC fell from around $60,000 to below $50,000, people are feeling this way.

In the short term, #Bitcoin forms a rising wedge, a pattern often linked to downtrends. Though $BTC might climb to $56,000-$57,000 at the wedge's upper boundary, watch for a potential breakdown that could pull #BTC back to around $51,000! pic.twitter.com/qwBvwwHNnO

— Ali (@ali_charts) August 6, 2024



At the moment, BTC is selling at $55,253, having recovered about 11% of its lost value. Bitcoin’s value dropped almost 24% between Friday and Monday, falling from the $65,300 area. This comeback is part of a larger trend of price changes.

As the argument goes on, Ki Young Ju’s reference to Satoshi Nakamoto’s vision is a powerful reminder of BTC’s intended role in the financial ecosystem: as a strong asset that can handle and rise above economic problems.

You Might Also Like

Bitcoin Beats Inflation, Says Paul Tudor Jones

Deutsche Bank Considers Issuing Stablecoin Amid Digital Shift

Will Bitcoin Break $111K or Face Major Correction?

PEPE Memecoin Surges 8.5% After Trump’s Cryptic Post Sparks Frenzy

Telegram Integrates Elon Musk’s Grok AI in $300M Deal

TAGGED: Bitcoin, Crypto, Cryptocurrencies
Previous Article India Delays Crypto Regulations, Minister Confirms India Delays Crypto Regulations, Minister Confirms
Next Article Solana Rebounds 25 Percent As Bulls Struggle Solana Rebounds 25 Percent As Bulls Struggle
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow US

Find US on Socials
TwitterFollow
TelegramFollow
LinkedInFollow

Subscribe to our newslettern

Get Newest Articles Instantly!

Popular News
Bitcoin Beats Inflation, Says Paul Tudor Jones
Bitcoin Beats Inflation, Says Paul Tudor Jones
Iceland PM Shifts Energy from Bitcoin to Agriculture
Iceland PM Shifts Energy from Bitcoin to Agriculture
RippleX Halts AMM Pool Deposits Due to XRP Ledger Glitch
RippleX Halts AMM Pool Deposits Due to XRP Ledger Glitch

You Might Also Like

Berachain Transactions Tumble, Fee Revenues Cut In Half
Press ReleaseCryptoNews

Berachain Transactions Tumble, Fee Revenues Cut In Half

By Nayab Fatima 2 weeks ago
Trump Media Launches $2.5B Crypto Investment Strategy
NewsCrypto

Trump Media Launches $2.5B Crypto Investment Strategy

By Nayab Fatima 3 weeks ago
$BONK Surges 4% as Breakout Above $0.000021 Nears
CryptoNews

$BONK Surges 4% as Breakout Above $0.000021 Nears

By Haider Ali 3 weeks ago
XRP Gathers Momentum Amid Whale Accumulation and ETF Buzz
Altcoin NewsNews

XRP Gathers Momentum Amid Whale Accumulation and ETF Buzz

By Muhammad Ali 1 month ago
CryptoXTimesCryptoXTimes
Follow US
© 2024 CryptoXtimes. All Rights Reserved.
  • About Us
  • Careers
  • Privacy Policy
  • Risk Disclaimer
Welcome Back!

Sign in to your account

Lost your password?