Emergency update, bitcoin panic dump explained Bitcoin dropped approximately five percent interest, one one hour candle, and most probably is due to the fake news that is going around that Satoshi finally moved his coins, but, well, most probably with a ninety-nine point nine percent certainty, this wasn’t Satoshi. And in this episode, I’m going to show you exactly why. And now let’s jump right into it. And with that said, what is going on, everyone? Sunny, decree here. And welcome back to another episode. If it goes like this kind of content, please don’t forget to leave. I like that is very much appreciated. All right. So what we’re looking at in here first is the Bitcoin daily chart. And on the Bitcoin daily chart, even after such a panic dump. Well, the situation still looks quite well. If we assume out here a little bit, we can still see that this long downtrend line is basically still serving as support, which is absolutely phenomenal. And we’re still trading above the 200 daily moving average. But nevertheless, what we have seen approximately 20 hours ago was a panic dump and it just one hour candle of approximately five percent. And the reason for that is quite clear. Probably already heard about this whale alert in here, which is quite weird because the numbers are not even correct. But here it says 40 Bitcoin transferred from possible Satoshi owned wallet dormant since 2009 to unknown wallet. The coins in this transaction were mined in the first month of Bitcoin’s existence. Well, of course, I immediately started to do my research because I want to know what’s going on in here because this is very important for every Bitcoin holder out there. And if this would really be Satoshi? Well, this actually would be quite scary because based on data mining, Satoshi has access to multiple one hundred thousand bitcoins. And that will be quite dramatic if Satoshi would suddenly start to dump Bitcoin into the market. Right. So what we’re looking at in here is this address. And yes, it is true, the first Bitcoin came on this address from a Bitcoin mining reward in block height, three thousand six hundred and fifty-four. And because we do know that it takes approximately 10 minutes to mine one block. So three thousand six hundred and fifty-four times ten minutes. That is approximately twenty-five days. So, yes, this wallet had an incoming Bitcoin transaction within the first month of Bitcoin’s existence. And those coins good moved. As you can see right here now for the first time again on May 20 is in 2020 and approximately 20 hours ago. And that is exactly what caused this dump. But what is fascinating is that if we think about the size of this dump. Well, this is not significant at all. I mean, most of the bullish patterns that we were discussing yesterday, well, they were not even affected by that. And the most interesting one is that this downtrend line in here, well, is still holding as support right now. So although we have Bitcoins moved from this early, from 2009 and people panicking completely or some people panic and completely selling off Bitcoin and just one one hour candle, I mean, we’re talking about a couple of hundred dollars in here. But overall, well, it is not that significant. And people right now start to realize that, well, most probably this was not Satoshi. And with most probably I mean, with a ninety-nine point nine percent certainty here, for example, we have a very interesting tweet from Nick Carter. It’s the first time since August 2017 that someone spent coins from early 2009. So we have seen this already back in 2017. But obviously, this is very rare because once again, for that 50 Bitcoin, we’re talking about block height, three thousand six hundred and fifty-four. And yeah, you can imagine that not that many people are actually holding Bitcoin anymore from back then. So it’s obviously very rare that we see coins moving which were dormant since 2009. Keep in mind, it’s basically impossible to prove that Satoshi didn’t mind these coins. But the best research we have suggests that Satoshi. Mind a specific set of blocks of which this is not one. And here you can see the actual data mining and block three thousand six hundred and fifty-four that was mined and got the 50 bitcoin block reward was not in the set of the blocks that Satoshi most probably mined. So it’s all good, guys. No, Bitcoin is not going to zero right now, but still very interesting that we see coins from 2009 moving. Very, very interesting. And most probably we’re not going to see that all too often anymore in the future because this situation is getting rarer and rarer. But that is it all ready for today’s episode. If the guys enjoyed it, please make sure you don’t forget the like. Very much appreciated. Thank you guys very much. And hopefully, see all the few in the next one by.