Crypto Gloom

Bitcoin Price Prediction: BTC plunges 7% as experts say this eco-friendly alternative may be the best cryptocurrency to buy right now.

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By Crypto Gloom

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Bitcoin prices were down 7% at $68,652 as of 2:40 a.m. ET, after a 55% surge in trading volume.

This move blew more than $290 million in positions out of the water. This consists of $240 million in long positions and $51 million in short positions.

BTC liquidationBTC liquidation

total liquidation

The drop follows the UK High Court’s decision to reject Craig Wright’s claim that he is Bitcoin founder Satoshi Nakamoto.

Bitcoin price falls as British judge says Craig Wright is not Satoshi Nakamoto

Satoshi Nakamoto is the pseudonym of the anonymous creator of Bitcoin. Their true identities are still unknown, but the longstanding mystery only adds to the intrigue surrounding the topic. This continues to impact the world of finance and technology.

The most popular theories about Satoshi Nakamoto’s true identity are as follows:

  • Nick Szabo – computer scientist and cryptographer
  • Hal Finney – Cryptocurrency pioneer believed to be the first person to receive a BTC transaction from Satoshi Nakamoto
  • Dorian Nakamoto – Despite the 2024 discovery article, he has denied any involvement with Bitcoin.
  • Craig Wright – Australian computer scientist who claimed to be Satoshi and even provided cryptographic evidence to support his claim.
  • There is also a theory that Satoshi is not a single individual but a group of individuals.

In his decision at the High Court in London, Justice Mellor ruled out one theory, citing “overwhelming evidence” that Craig Wright was not Satoshi Nakamoto. The decision was reached after a two-month trial.

The case was brought against Wright by the Crypto Open Patent Alliance (COPA), which wanted to put an end to his claim to be the inventor of BTC once and for all.

Bitcoin price forecast

Bitcoin price hit an intraday low of $66,699, but recovery efforts are underway as bulls still exist in the market. Proof of this is the position of the Awesome Oscillator (AO) in positive territory.

If the bulls increase buying pressure, the Bitcoin price could overcome resistance posed by Wednesday’s supply zone extending from $71,290 to $73,193 and head north. A clear candle above the average threshold of $72,258 would confirm the continuation of the uptrend.

In a very bullish case, the Bitcoin price could turn the supply zone into a bullish breaker, confirmed by a rise above $72,258. Such a breakout would likely push Bitcoin price back to its $73,000 highs, or if we are very bullish, over $75,000 and on pace to hit the $80,000 milestone.

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TradingView: BTC/USDT 1-day chart

However, if the bears get their way, Bitcoin price could extend its downtrend by keeping the supply zone in the resistance order block. We see support at $66,128 removing the obstacle to a continuation of the downtrend. With this directional bias, BTC bulls may have another buying opportunity near the $60,000 threshold.

Meanwhile, despite Bitcoin price struggling to recover above the $70,000 threshold, experts say GBTC, a green alternative to BTC, will become the best cryptocurrency to buy right now after funds raised surpassed $4.6 million. They say they can.

A promising alternative to Bitcoin

GBTC is the token that powers the Green Bitcoin ecosystem, a cryptocurrency project that meets users at the intersection of Bitcoin’s legacy and Ethereum’s eco-friendliness. It is a prediction profit project where participants take part in daily and weekly BTC price prediction challenges for attractive rewards.

The project also features a unique and sustainable staking model. Gamified Green Staking. Here, users can earn passive income through staking rewards, which currently amount to 112% per annum.

$GBTC presales have seen a surge in sales over the past few days as investors begin stockpiling tokens to gain better exposure to the Bitcoin halving rally.

Investors can purchase Green Bitcoin’s GBTC tokens for just $0.9542 right now, but the price increase is expected to take place in a little over four days.

Tokens will never be this cheap again, so take advantage of the low prices and buy GBTC at a pocket-friendly price.

Visit Green Bitcoin to buy GBTC here.

Also read:

Green Bitcoin – Gamified Green Staking

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  • Coinsult’s contract audit
  • Early Access Presale Now Live – greenbitcoin.xyz
  • Profit Forecast – Cointelegraph Feature
  • Staking Rewards and Token Bonuses
  • Over $1 million raised

green bitcoingreen bitcoin


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