"Somehow the price of BTC will fall to $27,000."
After the Bitcoin (BTC) network experienced some congestion, the giant cryptocurrency exchange Binance acted to temporarily suspend the production of the digital asset on their platform.
It is understood that network congestion can cause difficulties for traders who want to make deposits or withdrawals because it usually takes a long time, therefore the Binance team will do their best to fix it as soon as possible to allow BTC withdrawal again.
Despite the outbreak, Binance, the world's largest exchange, has kept its community calm, but keep in mind that questions about the capabilities of the BTC protocol have arisen among crypto investors.
According to a Twitter user nicknamed @proofofjogi before Binance halted the withdrawal, BTC may now be under a denial-of-service (DoS) attack, where attackers want to make the digital asset unusable for smaller players.
He commented again, the whole following attack seems to have just started adding that the attack mechanism is Ordinals shitcoining.
In context, BTC is known as the most versatile protocol in the blockchain ecosystem but it may not last long as some of the smart contract functions currently being built on the network could compromise its integrity.
As of this writing, the price of BTC is seen plunging by 2.85% at $28,195 in the last 24 hours with the $546 billion market cap subsequently slipping around 1.64% over the past week.
