A lot of the halving predictions that analysts and investors made about the Bitcoin third halving event have not played out. One of them was from Satoshi claimant Craig Wright, who gave a long-term advance notice two years ago that he was going to make the price of Bitcoin plummet. His warning was from a Slack group. He uses it to communicate with his like-minded troublemakers. The scheme makes for a fascinating read for people who like drama and cryptocurrency.
Wright's claim was universally dismissed at the time he made it. His threat to sell off all of his Bitcoin investments happened just before the fork of the Bitcoin Cash. That event was hyped more than necessary. It ended up creating the blockchain Bitcoin SV.
While there were a couple of believers who were looking forward to the prospect suggested by Wright, everyone else poo-pooed it. They dismissed it as Wright being a braggart and egotistical. In Wright's own words, he said that the contract would consist of a rolling iceberg order. It would be on one exchange. This would follow big orders on other exchanges. An iceberg order splits into smaller bits with visible and hidden components. The unseen parts only become noticed after the visible pieces are executed.
The plan was to crash Bitcoin's price and leave it with a 10x leverage on the short end in order to capitalize on the drop of value. At the same time, Wright planned to squeeze the network hash and reject other transactions. This was going to happen through an addition of 51 percent network hashing capacity before the price crash. Wright never provided more details.
In reality, Bitcoin's third halving event went on as planned. The only problem was YouTube pulled the plug on its live party. This disappointed some excited holders.
The hash rate has so far been relatively unaffected, and unless Wright was behind the weekend’s Bitcoin price drop, then we can only assume that the halving he’s planning to hatch his scheme for is the one due in 2024. For now, everybody can breathe easily.