New Light On The History Of Cryptocurrency, Bitcoin's Downward Trend Without The Possibility Of Indicating The End| FXMAG.COM

Crypto Industry News:
Technical Market Outlook:
Weekly Pivot Points:
Trading Outlook:

Crypto Industry News:

Bitcoin.org, the Internet domain associated with Bitcoin, was created on August 18, 2008 as part of the AnonymousSpeech service, which allows users to purchase domain names anonymously. The AnonymousSpeech domain purchase history shows that the day before, on August 17, 2008, someone purchased a Netcoin.org domain. Was it Nakamoto who at the last minute changed the name of his project to Bitcoin?

After careful analysis, Or Weinberger confirmed that no content was associated with the Netcoin.org domain. This domain "was later bought back by another person."

The decision to stay with Bitcoin may have been critical to BTC's success as many members of the cryptocurrency community now emphasize their aversion to the Netcoin name.

This discovery sheds new light on the history of cryptocurrency. If it were true that Bitcoin was originally supposed to be called Netcoin, why did many of the self-proclaimed Nakamoto's never mention it? Isn't this potential evidence that Satoshi Nakamoto's real identity remains unknown?

The Netcoin.org domain was later removed and re-registered with the Web.com subsidiary in 2010.

Technical Market Outlook:

The BTC/USD pair has been seen continuing to trade inside the narrow zone located between the levels of $18,640 - $19,361 for all the weekend long. The nearest technical resistance is seen at the level of $19,347 and $19,679 and only a sustained breakout above this levels would change the outlook to more bullish. The weak and negative momentum on the H4 time frame chart still supports the short-term bearish outlook towards the level of $17,600 again, but any breakout above the local trend line might be considered bullish.

new light on the history of cryptocurrency bitcoin s downward trend without the possibility of indicating the end grafika numer 1

Weekly Pivot Points:

WR3 - $19,226

WR2 - $18,987

WR1 - $18,829

Weekly Pivot - $18,742

WS1 - $18,587

WS2 - $18,500

WS3 - $18,259

Trading Outlook:

The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.

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Relevance up to 09:00 2022-09-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

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