Pakinomist – In a tweet, historian Pete Rizzo shared a significant moment 16 years ago about Hal Finney, one of the earliest Bitcoin pioneers, who worked on Bitcoin when its value was still $0.
On January 21, 2009, Hal Finney, a computer scientist and one of the first people to run Bitcoin software, tweeted about his work with Bitcoin. This tweet has resurfaced and is attracting the interest of the cryptocurrency community. At the time, Bitcoin was a nascent project and its value was essentially zero.
Finney had tweeted: “Looking at ways to add more anonymity to bitcoin.” Unearthing this 16-year-old tweet offers insight into Bitcoin’s early days. It also reminds the crypto community of the vision and dedication that catapulted Bitcoin from obscurity to becoming a trillion-dollar asset.
On January 12, 2009, Finney received the first Bitcoin transaction from Bitcoin’s pseudonymous creator, Satoshi Nakamoto. His early contributions to Bitcoin’s development have left an indelible mark on the cryptocurrency’s history.
Despite battling ALS, Finney continued to support and work on Bitcoin until his passing in 2014.
What indicators reveal on Bitcoin
Bitcoin’s price has fluctuated significantly this week, rising to a new record high of $109,358 before plummeting and then settling above $100,000.
At the time of writing, Bitcoin was up 0.68% in the last 24 hours to $104,436, with a current market cap of $2.07 trillion.
According to Glassnode, Bitcoin’s Binary Coin Days Destroyed (CCD) indicator suggests a decline in activity by long-term owners. In practical terms, this suggests that pressure on the sell side has eased and the market may require new catalysts to release supply.
In addition, long-term holders (LTH) are showing signs of returning to accumulation. After a sharp selloff of $100,000, Glassnode reported that LTH supply is currently on the rise. A similar trend was observed after the local peak within the cycle last March.
