Snowden praises BTC transactions and Satoshi's anonymity 14 years after Bitcoin white paper

The speed of transactions has long been one of the main selling points of the Bitcoin (BTC) network, while its creator, the mysterious Satoshi Nakamoto, remains anonymous despite certain individuals claiming to be him, so far without substantial evidence.

Timeline of Bitcoin

As the eyes of the crypto community turn to tomorrow's Federal Reserve FOMC meeting, an on-chain analysis by Glassnode suggests that the bottom just needs to be hammered out. In their weekly report, the firm states that a number of metrics are currently bouncing, making a relatively consistent argument that the bitcoin market has hit a bottom.

Cathie Wood-led ARK Investment Management bought over 65,000 shares of Jack Dorsey-owned Block Inc (NYSE: SQ) at an estimated valuation of over $3.9 million, based on Monday's closing price. The purchase was done through three different ETFs.

Gary Gensler, Chairman of the SEC has tweeted a happy birthday to Satoshi Nakamoto's whitepaper, which was 14 years old on Monday. Gensler is an unlikely one to wish Bitcoin a happy birthday given that he has arguably been extremely antagonistic to the entire cryptocurrency ecosystem and appears to want to suppress it to the best of his ability.

A rebound in the US dollar index reflects traders' hopes of Fed pivoting in the week's interest-rate decision, but Bitcoin remains underbid. Bitcoin showed an impressive performance last week as the flagship crypto surged to $21,000 last Wednesday – its highest since the end of August.

Bitcoin is showing strong signs of consolidation above US$20,000 as the week progresses. Another half a percent was added this morning, bringing bitcoin slightly higher to US$20,600.

Microstrategy, which continues to be the company with largest Bitcoin holding, is scheduled to report quarterly earnings on Tuesday. The company's BTC holdings are currently incurring around 50% unrealized loss over the total investment made to purchase Bitcoin.

Bitcoin [BTC] managed to surpass the $19,000 level towards the end of October. The king coin was constrained to this level for the longest time and made several attempts to move past it.

On 30 October 2022, James Mullarney, the host of the very popular YouTube channel “InvestAnswers”, explained why he expects the Bitcoin price to go above $63,000 by the next block reward halving.

A bullish start of the month! During the last week of October the global crypto market cap moved past $1 trillion and since then the bulls are trying its best to maintain the mark.

Since Bitcoin has been trading above the psychological price of $20K, Glassnode has released its weekly on-chain report titled “Hammering Out The Bottom,” scrutinizing the stakes and the risks that may lay on the road ahead.