Bitcoin Price Prediction as Trading Volume Falls to $5 Billion in 24 Hours – Here's Why
Amidst the dynamic and ever-changing landscape of the cryptocurrency market, Bitcoin's recent performance has been under scrutiny.
Currently trading at 29,890, the world's leading digital currency has experienced a slight decrease of nearly 0.25% on Sunday.
However, what has drawn significant attention is the notable drop in its trading volume, which has now fallen to $5 billion within 24 hours.
In this Bitcoin price prediction, we will explore the factors contributing to this decline in trading volume and its potential implications for Bitcoin's future price predictions.
Additionally, the UK court's acceptance of Craig Wright's appeal in the Bitcoin rights dispute and the anticipation surrounding the halving event further add complexity to the current state of Bitcoin's market.
On July 20, a British court made a significant decision by upholding an appeal that allows Craig Wright to pursue his claim that the Bitcoin file format is eligible for copyright protection.
Craig Wright has been asserting since 2016 that he is the creator of Bitcoin. He alleges copyright infringement on the Bitcoin white paper, its file format, and database rights related to the Bitcoin blockchain in his complaint.
The defendants in the lawsuit include 13 Bitcoin Core developers and various businesses, such as Blockstream, Coinbase, and Block.
The decision to permit Wright's arguments to be heard in court has raised concerns, not only within the crypto community but also worldwide.
The Bitcoin Law Defense Foundation (BLDF) expressed its worry over the situation, stating that it could set a dangerous precedent for open-source software development.
According to the BLDF, allowing developers to be sued for modifying the file format of open-source
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