Bitcoin Bloodbath as the Big Reveal is Almost Here

Written by :

Jagajeet Chiba

Published on :

18 November, 2021

Bitcoin Bloodbath as the Big Reveal is Almost Here

Bitcoin has crashed to $56,770 as of Thursday evening, representing a greater than 12% loss on the week, down from just over $66,000.

The drop also resulted in a widespread sell-off in ETH and altcoins.

Some of this is likely a result of Congress making moves to tackle cryptocurrencies.

The real Earth shattering news may come next week when we learn whether Dr. Craig Wright can finally be annointed with the official title of "Bitcoin Founder".

The Ira Kleiman vs. Craig Wright trial is currently taking place in Miami with a jury set to decide the legal owner of nearly $69 billion in Bitcoin as well as the legal identity of Satoshi Nakamoto, author of the Bitcoin white paper. Ira Kleiman's is the brother of a man Wright claims worked with him on the creation of Bitcoin. Dave Kleiman passed away in 2014.

In a bombshell revelation Thursday, Wright's uncle, a decorated Royal Australian Air Force (RAAF) Wing Commander, testified that he was provided with a draft of the Bitcoin White Paper long before the digital currency ever became a reality.

Watch the recap of what happened at today's trial below.