Earlier in the week, the cryptocurrency community notice was drawn to an overwhelming 50 Bitcoin transaction from an 11-year dormant wallet.
The community in its efforts to unravel the identity of this wallet made speculations, alleging Bitcoins creator Satoshi Nakamoto to be a likely owner.
This development has seen a number of critical opinionated content in the crypto space by crypto analysts and market experts. Many fears the recent turn in the event to be a likely threat in the crypto-market as the face of bitcoin’s creator still remains unknown.
However, a renowned analyst and digital assets trader, Willy Woo, in an update describes the recent turn of event as trivial and nothing to be worried about. He rather described it to be either bullish, bearish, or just insignificant.
Going by his view, the development could pose a huge market outlay for traders. The transaction bearishly might indicate a large sale of coins from an old investor. In the same vein, it could be a bullish sign. The transaction of old coins could either result in market price rise or fall. It may likely appear as a bullish sign in the future.
Further reviewing his stance, he draws the notice of his followers to the pointer that explains the manner at which similar happenings could influence the price of Bitcoin. The determinant of this depends on the quantity of BTC traded alongside the period it laid dormant.
Going by this mystery and the overwhelmed crypto global community, Mr. Will Woo however, stated his assertions will only be relatable if the traded coins actually belonged to Bitcoins legendary creator Satoshi Nakamoto who is likely responsible for the mined bitcoins of 1.1M.