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bitcoin price plummeted 7% to trade at $68,652 at 02:40 EST, with trading volume increasing 55%.
With this measure, more than $290 million in positions were blown out of the water, of which $240 million in long positions versus $51 million in short positions.
<img decoding="async" class="aligncenter wp-image-489285 size-full" src="data:image/svg+xml,%3Csvg%20xmlns=" http:="" alt="btc Liquidations” width=”1332″ height=”407″ data-lazy-srcset=”https://technicalterrence.com/wp-content/uploads/2024/03/Bitcoin-Price-Prediction-BTC-Plunges-7-as-Experts-Say-This.png 1332w, https://insidebitcoins.com/wp-content/uploads/2024/03/total-liq-300×92.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/03/total-liq-1024×313.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/03/total-liq-768×235.png 768w” data-lazy-sizes=”(max-width: 1332px) 100vw, 1332px” data-lazy-src=”https://technicalterrence.com/wp-content/uploads/2024/03/Bitcoin-Price-Prediction-BTC-Plunges-7-as-Experts-Say-This.png”/><img decoding="async" class="aligncenter wp-image-489285 size-full" src="https://technicalterrence.com/wp-content/uploads/2024/03/Bitcoin-Price-Prediction-BTC-Plunges-7-as-Experts-Say-This.png" alt="btc Liquidations” width=”1332″ height=”407″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/03/Bitcoin-Price-Prediction-BTC-Plunges-7-as-Experts-Say-This.png 1332w, https://insidebitcoins.com/wp-content/uploads/2024/03/total-liq-300×92.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/03/total-liq-1024×313.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/03/total-liq-768×235.png 768w” sizes=”(max-width: 1332px) 100vw, 1332px”/>
btc” target=”_blank” rel=”noopener”>Total settlements
This drop came following a decision by the UK's highest court, which ruled out Craig Wright's claim that he is the creator of bitcoin, Satoshi Nakamoto.
bitcoin price drops as UK judge says Craig Wright is not Satoshi Nakamoto
Satoshi Nakamoto is the pseudonym of the anonymous creator of bitcoin. While his true identity remains unknown, the long-standing mystery has only increased the intrigue surrounding the topic. He continues to influence the world of finance and technology.
Some of the most popular theories about Satoshi Nakamoto's true identity include:
- Nick Szabo: computer scientist and cryptographer
- Hal Finney – The crypto pioneer is believed to be the first person to receive a btc transaction from Satoshi Nakamoto.
- Dorian Nakamoto: Despite a discovery paper in 2024, he denied any relationship with bitcoin
- Craig Wright – An Australian computer scientist who claims to be Satoshi and even provided cryptographic evidence to support it.
- There are also theories that Satoshi is not a single person, but rather a group of individuals.
In a decision by a London high court, Judge Mellor ruled out one theory, citing “overwhelming evidence” that Craig Wright is not Satoshi Nakamoto. The decision came after a two-month trial.
BREAKING: UK judge says Craig Wright is NOT Satoshi or the creator of bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin pic.twitter.com/mCBctAREBi
— Radar (@RadarHits) March 14, 2024
The case was brought against Wright by the crypto Open Patent Alliance (COPA), which wanted to put an end to his claim that he is the inventor of btc once and for all.
bitcoin Price Outlook
bitcoin price recorded an intraday low of $66,699, but recovery efforts are underway as bulls still have a presence in the market. Proof of this is the position of the Awesome Oscillator (AO) in positive territory.
If the bulls increase their buying pressure, bitcoin price could rise, surpassing resistance due to Wednesday's supply zone, which extends from $71,290 to $73,193. A decisive close of the candle above its average threshold of $72,258 would confirm the continuation of the uptrend.
In a highly bullish case, bitcoin price could turn the supply zone into a bullish breakout, confirmed by a move above $72,258. Such a breakout would set the pace for bitcoin price to reclaim its high of $73,000 or, in a highly bullish case, extrapolate beyond $75,000 to mark the $80,000 milestone.
<img decoding="async" class="aligncenter wp-image-489290 size-full" src="data:image/svg+xml,%3Csvg%20xmlns=" http:="" alt="btc” width=”1273″ height=”542″ data-lazy-srcset=”https://technicalterrence.com/wp-content/uploads/2024/03/1710530789_862_Bitcoin-Price-Prediction-BTC-Plunges-7-as-Experts-Say-This.png 1273w, https://insidebitcoins.com/wp-content/uploads/2024/03/BTCUSDT_2024-03-15_09-35-23-300×128.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/03/BTCUSDT_2024-03-15_09-35-23-1024×436.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/03/BTCUSDT_2024-03-15_09-35-23-768×327.png 768w” data-lazy-sizes=”(max-width: 1273px) 100vw, 1273px” data-lazy-src=”https://technicalterrence.com/wp-content/uploads/2024/03/1710530789_862_Bitcoin-Price-Prediction-BTC-Plunges-7-as-Experts-Say-This.png”/><img decoding="async" class="aligncenter wp-image-489290 size-full" src="https://technicalterrence.com/wp-content/uploads/2024/03/1710530789_862_Bitcoin-Price-Prediction-BTC-Plunges-7-as-Experts-Say-This.png" alt="btc” width=”1273″ height=”542″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/03/1710530789_862_Bitcoin-Price-Prediction-BTC-Plunges-7-as-Experts-Say-This.png 1273w, https://insidebitcoins.com/wp-content/uploads/2024/03/BTCUSDT_2024-03-15_09-35-23-300×128.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/03/BTCUSDT_2024-03-15_09-35-23-1024×436.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/03/BTCUSDT_2024-03-15_09-35-23-768×327.png 768w” sizes=”(max-width: 1273px) 100vw, 1273px”/>
TradingView: btc/USDT 1-Day Chart
However, if the bears have their way, bitcoin price could extend the decline, with the supply zone remaining as a resistance order block. It could see support at $66,128 give way, clearing the obstruction for a continuation of the downtrend. In such a directional bias, btc bulls could have another buying opportunity around the $60,000 threshold.
Meanwhile, even as bitcoin price struggles to regain its position above the $70,000 threshold, experts say GBTC, an eco-friendly alternative to btc, could be the best cryptocurrency to buy now after surpassing $4.6 million. of dollars in funds raised.
Promising alternative to bitcoin
GBTC is the token that powers the Green bitcoin ecosystem, a cryptocurrency project that meets users where bitcoin's legacy and ethereum's environmental friendliness intersect. It is a predict-to-earn project where participants participate in daily and weekly btc price prediction challenges to earn attractive rewards.
Introducing Green bitcoin – a revolutionary prediction-to-earn token.
Join us on our gamified green betting platform, where your predictions can turn into profits!
Website: https://t.co/dG5cEeCtRs
Telegram: https://t.co/bWanoe0vHv pic.twitter.com/eXuGQBkxio—GreenBitcoin (@GreenBTCtoken) December 3, 2023
The project also showcases a unique and sustainable participation model called Gamified green staking. Here, users earn passive income through staking rewards currently amounting to 112% annually.
“Investors flock to green bitcoin pre-sale as btc price hits $75,000″
Thank you @Crypto_Potato !!!! https://t.co/wxX0vwUxts
—GreenBitcoin (@GreenBTCtoken) March 14, 2024
The $GBTC pre-sale has seen a surge in sales in recent days as investors begin to accumulate the token to gain better exposure to the bitcoin halving rally.
Investors can purchase Green bitcoin GBTC tokens for just $0.9542 right now, but a price increase will occur in just over four days.
Take advantage of the low price to buy GBTC at affordable prices as the token will never be so affordable again.
Visit Green bitcoin to buy GBTC here.
Also read:
Green bitcoin: gamified green bet
- Contract audited by Coinsult
- Early Access Presale Live Now – greenbitcoin.xyz
- Predict to Win – Featured on Cointelegraph
- Staking Rewards and Token Bonuses
- $1+ Million Raised
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