THIS WEEK IN CRYPTO: 05/17-05/23

Is Satoshi Back?

Adam Back on the 20th of May said, “People need to chill. If Satoshi were selling coins, surely he would sell his most recently mined, and so most anonymous first”. The bitcoin that moved had been mined not to long after the genesis block, but at this time, there were at least 12 people from an email group mining bitcoin.
There is just as much chance this is Adam Back or Hal Finey as it is Satoshi. This Bitcoin movement came at a pretty bad time, everyone is watching Bitcoin right now, and the fear all these ghost coins generate can tank the market, and it almost did.

Dark Net Markets (DNMs) see 65% increase in BTC transactions in the first quarter of 2020, followed by COVID-19, which increased new user registration across DNMs. The use of coin mixers in order to provide another layer of security have also seen huge increases.

XMR is in the middle of another South Korean CP ring scandal “Nth Room,” XMR has an infrastructure that protects the identity of transactions. Due to these properties it is quickly becoming a crypto favorite, and is for this reason is often chosen for illicit activities.

BTC Predictions– I think we will find new support in the 8-8.8k range, we have continued to get rejected around 10k and momentum is slowing as we consolidate.
XMR Predictions– Today, we had some great price action as we went up and tested it by 0.0070, we were quickly rejected but looking to test again.
If BTC manages to break out XMR is poised to pump hard.

Leave a Reply