{"id":388069,"date":"2023-04-24T10:48:21","date_gmt":"2023-04-24T10:48:21","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=388069"},"modified":"2023-04-24T10:50:21","modified_gmt":"2023-04-24T10:50:21","slug":"bitcoin-price-drops-to-27600-what-can-reverse-btcs-fortunes","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-drops-to-27600-what-can-reverse-btcs-fortunes","title":{"rendered":"Bitcoin Price Drops To $27,600 – What Can Reverse BTC\u2019s Fortunes?"},"content":{"rendered":"

Bitcoin price (<\/span>BTC<\/span><\/a>) is back below the $27,600 level after losing around 10% to the current price of $27,276. The pullback came as day traders kept hedging their positions to collect early profits. In the wake of this profit-taking, BTC’s price has lost key support levels (now turned resistance), and now bulls are looking for a possible catalyst to reverse Bitcoin’s fortunes.<\/span><\/p>\n

WEF Recognized The Environmental Benefits Of Mining Manipulation<\/b><\/h2>\n

The World Economic Forum (<\/span>WEF<\/span><\/a>) displayed the facilities and technology that a crypto mining firm uses, implying its operations were the “biggest environmental winner’. Notably, however, the firm is not cited saying it was mining crypto.<\/span><\/p>\n

In a video published on April 20, the WEF promoted efforts toward flaring reduction by Crusoe Energy Systems, a Colorado-based Bitcoin BTCUSD miner. Flaring defines how large quantities of gas from oil production of decomposition are wasted.<\/span><\/p>\n

The video highlights reliable imagery of what seem to be crypto-mining facilities. Nevertheless, it never distinctively addressed what is taking place, an action that caught the attention of Kristine Cranley, a director at the Texas Blockchain Council advocacy group.<\/span><\/p>\n

\n

@WEF<\/a> promoting mining without using the b word! Source below. Contrast this with the tone of the @nytimes<\/a> hit piece! Same topic … different emotional experience they are trying to deliver. @NYTimesUp<\/a> pic.twitter.com\/d4OEPkWYFc<\/a><\/p>\n

— Kristine Cranley (@KristineCranley) April 23, 2023<\/a><\/p><\/blockquote>\n