Satoshi Nakamoto’s Original Bitcoin Goal Revealed by CryptoQuant CEO

Ki Young Ju, the founder and CEO of the on-chain data aggregator CryptoQuant, has addressed the ongoing debate regarding Bitcoin’s status in financial markets. He referenced what he sees as Satoshi Nakamoto’s original vision for the cryptocurrency in his argument.

### Satoshi’s Perspective on Bitcoin

In a recent tweet, Ki Young Ju highlighted the division within the Bitcoin investment community. He noted that investors are largely split into two camps: those who view Bitcoin as a tech stock and those who consider it as digital gold. While both groups engage in buying and holding Bitcoin, the tech stock proponents tend to panic sell during market downturns and often turn to physical gold. Ju stated, “We don’t need them,” emphasizing Satoshi Nakamoto’s intent that “BTC should rise in tough times.”

### Potential Decline to $51,000: Analyst Prediction

Cryptocurrency trader and analyst Ali Martinez has shared insights on Bitcoin’s current market pattern, suggesting a potential decline. He analyzed that Bitcoin is forming a Rising Wedge pattern, a situation that typically precedes an asset’s downturn. Martinez warned of a possible drop toward the $51,000 mark, even if Bitcoin might reach levels around $56,000 or $57,000 from its current price of approximately $55,172.

Martinez also pointed out that despite institutional investments in Bitcoin hitting an all-time high, market sentiment remains mired in “extreme fear.”

After experiencing an 18% decline earlier in the week, Bitcoin has begun a recovery. The cryptocurrency fell from around $60,000, dipping below $50,000 on Monday. Currently, Bitcoin has regained approximately 11% of its lost value and is trading at around $55,253. Overall, the losses from Friday to Monday amounted to nearly 24%, with Bitcoin plummeting from the $65,300 range.