The enduring mystery of Bitcoin’s creator, Satoshi Nakamoto, remains unsolved as Stephen Mollah’s recent attempt to claim the title fell flat.
Hosting a press event in London, Mollah failed to provide convincing proof of his involvement in Bitcoin’s creation, keeping Satoshi’s identity—and the 1 million Bitcoins he allegedly holds—under wraps.
This latest development has stirred conversations in the cryptocurrency community, with many asserting that maintaining Satoshi’s anonymity preserves Bitcoin’s independence and integrity.
Another Attempt to Unmask Bitcoin’s Creator Satoshi Nakamoto Fails
An attempt to uncover the identity of Bitcoin’s mysterious creator, Satoshi Nakamoto, has hit a dead end. Stephen Mollah, who held a press conference at London’s Frontline Club, claimed to be Satoshi but failed to provide any evidence linking himself to Bitcoin’s creation.
Satoshi, who allegedly owns over a million Bitcoins, remains unidentified despite many similar failed efforts. Some in the cryptocurrency community believe that preserving Satoshi’s anonymity is vital to Bitcoin’s independence.
Key Points:
Mollah’s claim lacked supporting evidence.
Bitcoin’s value may benefit from the continued mystery surrounding its creator.
Many argue Satoshi’s identity should remain hidden to protect Bitcoin’s integrity.
South Korea’s Bitcoin Premium: Bullish Indicator or Local Market Trend?
Bitcoin’s price in South Korea consistently trades higher than on international exchanges, with a recent premium of 2.21% recorded on October 24. While Bitcoin sits around $69,058 globally, South Korean exchanges like Upbit and Bithumb list it above $69,800.
This price difference stems from high local demand and strict regulations, with the South Korean won ranking among the top currencies used in Bitcoin transactions. Such premiums often reflect bullish sentiment, suggesting confidence in Bitcoin’s continued rise.
Key Points:
South Korean Bitcoin trades at a premium above global prices.
High demand and local regulations fuel this price difference.
Persistent premiums may signal strong demand and inspire global interest.
Strive Introduces Bitcoin Service, Aims to Broaden BTC Access for Investors
Strive, co-founded by former U.S. presidential candidate Vivek Ramaswamy, has launched a Bitcoin-focused wealth management division.
Strive’s new service incorporates Bitcoin as a hedge against inflation and rising debt, targeting “true financial freedom” for clients. Unlike traditional wealth managers, Strive aims to make Bitcoin accessible as a mainstream investment, marking a unique strategy.
Key Points:
Strive adds Bitcoin to client portfolios as a hedge.
Backed by $30 million in funding, including Cantor Fitzgerald.
Strive’s approach may boost BTC demand among regular investors.
Busy Week Ahead for Markets with U.S. Election and Fed Rate Decision
Major market movements are anticipated next week due to a Federal Reserve meeting and the U.S. election. On November 5, Americans will cast their votes for the next president, and markets are tense due to the close contest between Donald Trump and Kamala Harris.
The latest spike in bitcoin (BTC) is attributed to Trump’s possible victory and prospects for crypto deregulation.
However, Harris’ victory might help clean energy equities, but it might also hurt “Trump trade” assets like Treasuries and the currency.
Although strong economic statistics may force a pause in future rate cuts, investors anticipate a modest 0.25% cut when the Fed makes its rate decision announcement on Thursday.
Market patterns may be impacted by this choice, particularly given the conflicting signals from recent statistics regarding U.S. growth.
A Trump victory might raise the price of Bitcoin because of his pro-deregulation views, and a Fed rate drop might help Bitcoin by improving financial conditions. BTC is likely to remain volatile regardless of the outcome.
Bitcoin’s Technical Outlook: Key Levels to Watch
Bitcoin (BTC/USD) is holding steady near $68,790, showing a slight recovery from recent lows. The price currently tests a descending trendline, with immediate resistance at $69,270.
A break above this level could lead BTC towards the next resistances at $70,750 and $71,680, potentially signaling renewed bullish momentum.
However, the 50-day Exponential Moving Average (EMA) at $69,320 acts as a ceiling, creating a challenging path for BTC to rise.
Bitcoin Price Chart – Source: Tradingview
On the downside, immediate support lies at $68,420, followed by $67,470 and a stronger support zone around $66,700. The Relative Strength Index (RSI) stands at 47, suggesting neutral momentum.
A decisive move above or below current levels will likely determine BTC’s direction, especially with the ongoing market volatility.
Key Insights:
Immediate Resistance: $69,270, with next targets at $70,750 and $71,680.
Support Levels: $68,420, $67,470, and $66,700.
Technical Indicator: RSI at 47, indicating a neutral trend; 50 EMA at $69,320 acting as resistance.
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