CryptoMich and PlanB react to Bitcoin bounce as Musk figures out who Satoshi Nakamoto is

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Last Updated on 10 March 2022 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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Bitcoin and stock markets took a breather from all the Russian warmongering yesterday as the world’s biggest crypto coin surged upwards when Yellen’s comments on the White House’s executive order on crypto regulation were leaked. Stock markets knew their best day in many months.

At the time of writing, Bitcoin trades at $39k again after some profit taking has been noticed by traders who made a quick buck. However the news that hedge funds have poured billions into Bitcoin in these past few weeks has been well received by the market.

I can’t deny that the market is looking a bit better after this move. However, still very fragile, short timeframe and uncertain.

Michaël van de Poppe, locally known by the moniker CryptoMich, explained on social media.

Advertentie.

Stock to flow model

PlanB, the anonymous Dutch trader who perfected the stock to flow model for forecasting the Bitcoin price, concluded that the previous two dips were cause by China and inflation and with the war in Ukraine possibly lowering the odds of quantative easing ending he foresaw a possible run for Bitcoin.

He stated:

In my opinion BTC’s first dip from 60k to 30k in 2021 was caused by China’s mining ban. The second dip from 60k to 30k in 2021 was caused by inflation combined with possible rate hikes & QE ending. Currently the odds of rate hikes & QE ending seem low..

Asian companies

Satoshi Nakamoto, the anonymous pseudonym of the creator of Bitcoin, has never been named. But now Elon Musk, the self-called master of memes, might have given us an answer as to his identity.

Sa for Samsung, Toshi for Toshiba, Naka for Nakamichi and Moto for Motorola. Perhaps the name was created from some Asian companies itself indeed, the continent where crypto is highly popular. Good one Elon.

SergeyNivens / Depositphotos.com