Bitcoin (BTC) 
$62,122 Prices are currently showing a distinct lack of direction and continue to consolidate in a narrow range. Investors can expect BTC to move downwards if the support level is broken. While much of this outlook can be attributed to macroeconomic policies and geopolitical tensions, some of it can be attributed to the release of HBO’s documentary on the Bitcoin founder.
Bitcoin Price and Documentary
HBO’s documentary demystifying Bitcoin founder Satoshi Nakamoto had a profound but short-term impact on BTC and Bitcoin price predictions.
Bitcoin price rose 4.20% in the two days after HBO’s documentary was first revealed, indicating a short-term increase in volatility. However, these gains were quickly pulled back over the next 48 hours, and in the last week BTC experienced a narrow period of consolidation.
Peter Todd: “I agree, you are quite creative. “You’ve come up with some crazy theories.” he said.
He then said, “Yes, I am Satoshi, yes, I am Craig Wright.” he said.
Whales holding assets between 10,000 and 100,000 BTC have sold 200,000 BTC for $12.4 billion since October 7. At the same time, Bitcoin open interest has been hovering around 33 billion in the last week.
Market Expectations
HBO’s impact on BTC price was limited. There is no tangible evidence to establish Nakamoto’s true identity, and it is difficult for the theories to be accepted as real. If the Bitcoin founder is really alive, he has been hiding himself in the best possible way by remaining silent for years, so it is difficult to detect him after today. Maybe we will see days when someone who really knows him or he himself comes forward with his wallet keys and speaks with evidence. However, that day is not the day the HBO doc was released.
As a result, HBO’s Bitcoin documentary caused ripples in the Bitcoin market. Closes below $63,000 caused the BTC price to decline further. A loss near $61,700 could spark a fresh move towards $60,000.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
