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The statement dates back 15 years, believed to have been made on Dec. 10, 2009, when Bitcoin was worth $0, yet Satoshi foresaw the profound economic implications of a limited supply. The distinct nature of Bitcoin's hard cap of 21 million coins draws from this concept of scarcity, and this differentiates Bitcoin from traditional fiat currencies that can be endlessly printed.
As Bitcoin’s price faces pressure from a broader market sell-off, Satoshi’s statement remains relevant. The fixed supply remains a key driver of Bitcoin’s value, ensuring that its scarcity is preserved regardless of short-term price fluctuations.fell to a low of $94,220 on Tuesday as prices tumbled sharply across the crypto market. According to CoinGlass data, the fall resulted in the liquidation of almost $1.57 billion in cryptocurrency positions.
According to CryptoQuant, the current market sell-off has elicited a strong response from institutional investors. As panic-selling occurs, mostly on platforms like Binance, with a higher number of small investors, U.S. institutional investors are embracing the opportunity to buy aggressively on exchanges like Coinbase.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst.