The price of Bitcoin surpassed $14,000 on Oct. 31, the day Satoshi Nakamoto released the Bitcoin whitepaper in 2008.
Fast forward 12 years, since the October 31, 2008 release of the whitepaper, Bitcoin is in a different growth trajectory.
Post-halving bull cycle meets Bitcoin 12-year anniversary.
The 12-year anniversary of the Bitcoin whitepaper is particularly special for Bitcoin because it marks the third post-halving cycle.
Every four years, Bitcoin undergoes a block reward halving, which cuts the rate at which new BTC is mined by half.
A halving historically has had a positive impact on the price of Bitcoin.
The historic prices of Bitcoin on "Whitepaper day" have seen considerable growth over the past decade.
Across major exchanges, the price of Bitcoin reached a peak of $14,100 and saw an immediate rejection on Saturday, Oct. 31.
A pseudonymous Bitcoin trader known as "CL" said it was the "Biggest buy wall on Huobi I've seen in a long time."
When the price of Bitcoin surges rapidly and violently rejects, traders describe the pattern as a "Darth maul candle."
Bitcoin price hits $14,000 exactly 12 years after whitepaper released
Published on Oct 31, 2020
by Cointele | Published on Coinage
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