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On January 10, 2009, history was made with the first ever Related to Bitcoin Tweet from early Bitcoin pioneer and computer scientist Hal Finney.
A Bitcoin historian has highlighted Finney's famous "Running Bitcoin" tweet. Pete Rizzowho shared on X, “The first Bitcoin tweet, posted when the price was zero, exactly 16 years ago.”
Vinnie was among the first Bitcoin users, and on January 12, 2009, he received the first Bitcoin transaction from Satoshi Nakamoto, the pseudonymous creator of Bitcoin.
Finney's first tweet about Bitcoin, sent 16 years ago, marked the beginning of a new era, as Bitcoin had no monetary value at the time. 16 years later, Bitcoin has become a global financial asset, reaching an all-time high of $108,268 on December 17, 2024.
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As reported, Finney predicted that if Bitcoin becomes the world's dominant payment system, its value "should be equal to the total value of all the wealth in the world." To extend this logic, he set a value of $10 million for the leading cryptocurrency.
What indicators reveal about Bitcoin
At the time of writing, Bitcoin is down 0.83% over the past 24 hours to $94,507.
The Bitcoin Short-Term Holders (STH) cost basis model is a crucial indicator to gauge sentiment among new investors. Historically, this model has tracked market lows during bull cycles and distinguished between bull and bear markets.
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According to Glassnode, BTC's price is currently roughly 7% above STH's cost basis of $88,135. If the price settles below this level, it may indicate waning sentiment among new investors, which often represents a turning point in market trends.
At the same time, the proportion of Bitcoin wealth held by new investors (coins less than three months old) has risen, accounting for 49.6% of the network's liquidity. This means that mature investors have allocated coins advantageously throughout the rally, with new demand compensating for sell-side pressure.
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