The cryptocurrency has been on the wallet for more than 12 years. The specialist told why it could happen right now.
On April 7, an unknown person withdrew 50 bitcoins from the crypto wallet, which had been lying there since 2009. Technically, then the cryptocurrency was worth nothing — there were no crypto exchanges, it was not traded anywhere, and even in 2010 the price of one bitcoin was about $ 0.0025. As of the current moment, 50 bitcoins are valued at $2.1 million (at the current exchange rate of the asset at $43.5 thousand)
A signal to sell? What do transfers of "sleeping" bitcoins mean for the market
Bitcoin transfers, which have remained inactive for a long time, often lead to increased volatility in the market. The community believes that early investors may regard current prices as the maximum for a long period, therefore they assume their further significant decline.
Moving inactive bitcoins does not necessarily indicate their sale. The transaction only says that the digital coins were transferred from one address to another.
"The market often reacts extremely emotionally to such events, causing short—term price reduction impulses, which in the current conditions of "crypto-winter" and uncertainty in the stock market can provoke a more powerful fall of the entire crypto market," the senior analyst warned Bestchange.ru Nikita Zuborev
However, the last transfer of bitcoins that have been on the same wallet for more than 12 years is not explained by a conspiracy theory, the expert claims. According to him, the transaction does not say that a long-time investor has become disillusioned with bitcoin right now, but rather someone else has gained access to these funds. The most typical situation in which this happens is that the wallet of one of the early bitcoin investors was accessed by his heirs or family members under other circumstances, the expert believes.
The rest of the theories are more complex, for example, theft of funds with a simple search, Zuborev warned.
According to him, technically, brute force is even easier to implement than guessing the password from the personal account in Internet banking, because the bank can block access after a number of unsuccessful attempts, and there are no restrictions for brute force private keys.
However, not everything is so simple, in the private key — 256 bits, which is 22⁵⁶ probabilities — this is about 10⁷⁷ (a number with 77 zeros). In other words, the probability of finding the right private key is less than calculating the location of a particular atom in the universe. Statistically, it tends to zero, but it cannot exclude such an event completely.
Zuborev also recalled that some of the first miners with huge balances could use multi-signatures to create their addresses, and the chance to get access to such a wallet is still as much (10⁷⁷) times lower (a total of 101⁵⁴, which is even beyond awareness). And it is unlikely that anyone will decide to sort out exactly such combinations, so there will be no more particularly loud "revivals", their frequency will not increase with the growth of computing power of computers, the analyst is sure.
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