Bitcoin battle reaches 68k, Satoshi Nakamoto's 49th birthday

Author: Liu Jiaolian

The clouds in the stream are beginning to rise, the sun is sinking into the pavilion, and the mountain rain is about to come, and the wind is filling the building .

On the 2nd, BTC (Bitcoin) plummeted, piercing the 30-day moving average of 68k and falling to the 65k line.

On the morning of the 3rd, Jiaolian wrote an article "Bitcoin pierced the 30-day moving average support, who is the real culprit?" ", the "real culprit" behind the anatomy. On the 3rd day and night, the internal reference of the teaching chain "Success and failure are not important, repeatable success is the most important" detailed analysis, the downward momentum, or the decisive influence, the outflow of grayscale GBTC.

On the 4th, the internal reference of the teaching chain "The market will definitely fight back the arrogance of the short sellers" took a closer look at the changes and significant turning points in GBTC data, echoing the article on the 3rd Theoretical judgment: "From the perspective of neutral degree points, Jiaolian believes that the loss of more than half of GBTC may be regarded as releasing all the negative factors. Next, the impact of GBTC on the market may really be Neutral impact." Then the conclusion was given in the internal parameters:

"If it is indeed as predicted by the teaching chain, grayscale throwing If the pressure is the "real culprit" that prevents the market from completely digesting the hold-up of "recovering losses and taking profits" and the old whales who "reduce their positions on every rise", then the neutralization ofGreyscale's selling pressure will be released. If this big burden is removed, the market will be able to effectively fight back the arrogance of the short sellers.”

On the morning of the 5th, this article has been written. At that time, BTC had returned to above the 30-day moving average of 68k, and once reached 69k.

The long and short sides are fighting fiercely on the 68k front line. The bears are aggressive. Bulls don't want to give in too much. The bulls urgently called for funds from all walks of life to come to meet the main enemy of BTC shorts, so other altcoins "lost blood" and fell instead, showing a classic situation of Bitcoin sucking up blood and rising alone.

BTC has risen sharply, and counterfeit stocks have risen slightly. This is the arrival of off-site reinforcements. BTC is not rising, and the counterfeit stocks are rising indiscriminately. This is a sign of divided forces. BTC rose alone, while all counterfeit stocks fell. This was a combined force attack.

BTC has fallen sharply, and copycats have fallen slightly. This is the flight of profit-making funds. BTC fell slightly, and the counterfeit stocks plummeted one after another. This is the front line of contraction. BTC stopped falling and the copycats collapsed completely. This was the end of the market.

BTC will rise. Copycats often fall. It can be seen that the winning rate of holding BTC is much higher than that of holding altcoins.

It’s April 5th again. As the long and short sides of Bitcoin battle against the 30-day moving average of $68k, we celebrate the birthday of Satoshi Nakamoto.

According to the birthday that Satoshi Nakamoto filled in when he registered his account at p2pfoundation, April 5, 1975. Today, April 5, 2024, is his 49th birthday.

In Chapter 10 "The Birthday of Satoshi Nakamoto" written by Jiao Lian, "History of Bitcoin" (https://leanpub.com/history-of-bitcoin), a complete analysis of Satoshi Nakamoto's birthday date is given The ins and outs of metaphor.

Among them, the last paragraph of Chapter 41 "The Golden Heist" explains the date of the birthday: "In commemoration of the promulgation of "Presidential Decree No. 6102" Days, in order to alert the world to always be on guard against the U.S. government once again looting everyone's wealth through excessive currency issuance, and also to imply that the invention of Bitcoin is intended to solve the disintermediation payment stated in the white paper, and Another hidden line is to fight against the plunder of people's wealth by powerful forces and give everyone a powerful weapon to defend private property rights. The date of birth Satoshi Nakamoto filled in in his blog registration information is exactly 4 July 5th."

The 43rd episode "Ford's Gospel" explains the year of his birthday: "August 1974 On the 14th, President Ford signed "Public Law 93-373" (Public Law 93-373), also known as the "gold legalization" bill." "No later than December 31, 1974 Effective. This means that the more than 40-year-old gold ban has finally been lifted. Starting in 1975, Americans can legally hold and trade gold." "To commemorate the re-legalization of gold, In order to warn people that power can really do whatever they want, and to imply that there is no way back for gold currency, we must seek a better anti-hegemony currency. The year of birth that Satoshi Nakamoto filled in in his blog registration information is exactly 1975. < /em>‖

Jiaolian’s article on January 1, 2019, "Bitcoin’s 10th Anniversary in the Long Wave of History, Happy Birthday in 2019!" 》, an overview of the past events of Act 6102 and the illegalization and special exemption of gold:

"In history, April 1933 On the 5th, then US President Roosevelt signed Government Act 6102, making it illegal for US citizens to hold gold. Through this decree, the US government confiscated all gold in the hands of all Americans and forcibly exchanged it for US dollars. After that, the US government Immediately devalue the U.S. dollar by 40%, force the price of gold to rise, and devalue U.S. debt to combat the Great Depression. This means that, overnight, 40% of Americans' wealth was robbed."

"Bitcoin History" quotes the content of the law in detail. Specifically, "Pursuant to a presidential executive order issued on April 5, 1933, all persons are required to surrender all gold coins, gold bars, and gold certificates in their possession on or before May 1, 1933, to All transfers will be made to a Federal Reserve bank, branch, correspondent bank, or any member bank of the Federal Reserve System.10 years in prison, or both."

As for how the US government forcibly devalued gold , "Bitcoin History" also introduced: "In January of the following year, 3 billion U.S. dollars without gold reserves were issued, forcibly pushing up the price of gold, jumping directly from 20 U.S. dollars per ounce to 35 US dollars per ounce. The US dollar immediately devalued by about 40% against gold."

"Since 1975, Americans can again It is legal to own gold. But please note that Act 6102 is still valid as law. The gold ownership rights obtained by Americans are only a privilege (amnesty), not a right (right). The US government, or the President of the United States, can at any time Revoke this amnesty and thereby dispose of gold in the hands of any American citizen. The age of gold and the gold dollar is over. The age of the fiat dollar has begun.‖

"Since then, the U.S. dollar, which has lost the restraint of gold, has started to depreciate wildly. As Hayek pointed out, "People will always redeem the currency issued by the issuer. The possibility of gold is nothing more than a disciplinary constraint on the money issuers, which can force them to control the quantity of money at an appropriate level." "The gold standard is only a reluctant one when we have not yet found the discipline to restrain the government. "It's just a method used", "Gold is purely a method of controlling the quantity of a certain currency, and the quantity of currency is the real factor that determines the value of currency.""

The U.S. government, which has manipulated gold to the limit, has never given up its continued suppression of gold. Jiaolian introduced the classic operations of the Obama administration in the article "Gold, Gold" on September 28, 2023:

"In 2009, The year after the US financial institutions' greed and leverage led to the collapse of the subprime mortgage crisis, the Dodd-Frank Act was introduced to strengthen financial supervision. It was clearly the financial institutions' fault, but they insisted on taking some of the blame. , taking the opportunity to bring in private goods, and added relevant provisions to restrict gold trading. The Dodd-Frank Act is considered to be the most comprehensive and stringent financial reform bill since the "Great Depression", and its banner is to "protect consumers." In July 2010, then-U.S. President Obama signed the bill, making it a formal law. On July 15, 2011, some foreign exchange traders in the United States issued important notices to their customers, stating thataccording to the regulations enacted by the U.S. Congress Under the Dodd-Frank Act, after July 15th, the legality of over-the-counter (OTC) trading of precious metals will be outlawed. All over-the-counter markets for gold and silver will be closed. .”

"Obama gave gold a heavy blow. Until today, more than ten years later, gold has just It exceeded the “previous high” in mid-2011 and went through a long “healing period.””

In Jiaolian’s article last year, "The "previous high" in mid-2011" was US$1,800-1,900 per ounce.

After half a year, gold has started a retaliatory upward attack, has achieved a significant "breakthrough to previous highs", and is approaching US$2,300 per ounce. All time high.

Perhaps inspired by gold, Satoshi Nakamoto deeply realized that a truly decentralized consensus can unite the power of the vast number of people around the world, or Enough to fight against the most powerful power and tyranny in the world. If there is a better gold, scarrier than gold (only 21 million pieces in total), more durable than gold (zero wear and tear), than gold Easier to verify authenticity(Ordinary people can do it with equipment in their hands, no need for professional instrument identification),Can be subdivided more finely(Not limited by physical size, minimum divisible size ), lower security costs (no need to hire bodyguards or buy safes, in the worst case it can be hidden in your mind and no one can search it), circulation is almost impossible to intercept > (No one will be detained when entering or exiting the country), Transmission costs are extremely low (global sending costs are as low as a few dollars or less) , and speeds are extremely fast (speed of light), then, Once this kind of thing achieves decentralized global consensus, it will definitely have incredible power a hundred times more powerful than gold, right? !

In the "2022 Year-end Review Outlook Report" written by Jiaolian at the end of 2022, the outlook for the new cycle from 2023 to 2025 is qualitatively oriented. Gold launches a challenge, with a quota of 300,000-500,000 US dollars. At that time, Jiaolian was so forward-looking:

"If the 2021 cycle is defined as challenging the U.S. stock market, then the 2024-2025 bull market cycle will challenge the world's No. 1 stock market. One asset product category - gold.

"Today, the total market value of gold is approximately US$12 trillion. Bitcoin is priced at US$17k The price of Bitcoin is about 330 billion U.S. dollars, which is still 36 times the total market value of gold. The total amount of Bitcoin today is 19.22 million. It is estimated that about 660,000 Bitcoins will be produced in 2023-2024. The total amount Reaching 19.88 million. Based on an approximate number of 20 million, the market value reaches US$12 trillion, and the unit price should be US$600,000 per Bitcoin.

"In the last round of bear market, the bottom was more than 3,000 at the end of 2018, and the top of the bull market was 69k at the end of 2021, an increase of about 23 times. According to the current 17k increase of 23 times, it is 390,000, about 400,000 US dollars per Bitcoin, multiplied by 2,000 10,000 pieces, with a total market value of US$8 trillion, approximately 67% of gold’s US$12 trillion market value.

"Even According to a smaller increase, such as 17 or 8 times, one Bitcoin reaches 300,000 US dollars, and the total market value is 6 trillion US dollars, which is about half of gold. Even if it does not exceed the market value of gold and reaches a similar order of magnitude, it can still be called It’s as good as gold.”

The deeper we understand Satoshi Nakamoto and the deeper we understand Bitcoin, deep in our hearts The more clearly and firmly we know that challenging and surpassing gold is by no means the end of Bitcoin. (Extended reading of the 2024.3.4 article "Bitcoin Endgame: It may be equal to the sum of the remaining value of mankind!")

There is only one reason: Bitcoin allocation To reach the bigger, higher and farther sea of ​​stars.

The sixth line of the Qian hexagram in "The Book of Changes" says, "Do not use the hidden dragon." Today, Bitcoin, which has been criticized by many professionals as "useless" and "of no use value", is the "hidden dragon" of "don't use it".

When Bitcoin reaches the 95th level and the flying dragon is in the sky, the entire universe will applaud and pay tribute to Satoshi Nakamoto's great invention.

Happy birthday, Satoshi Nakamoto!