Understanding the Differences Between Web 2.0 and Web 3.0

Bitcoin (BTC) will force liquidation of $2 billion in long positions if it drops by just $3,000 from its current levels.

Recent data from CoinGlass, a monitoring resource, reveals that traders are taking massive risks with their bets on the future of BTC’s price.

Web 3.0, the next generation of the internet, is vastly different from its predecessor, Web 2.0. It will operate in a decentralized manner, utilizing blockchain technology to create a more secure and transparent online experience.

To understand how Web 3.0 will function, one must actively learn about its unique features and capabilities.

Building a website for Web 3.0 will require a deep understanding of blockchain technology and its various applications.

The impact of Web 3.0 on businesses will be significant, as it will revolutionize the way companies operate and interact with their customers.

There are already numerous examples of Web 3.0 in action, showcasing its potential to transform various industries.

For those interested in investing in Web 3.0, it is crucial to first gain a thorough understanding of its technology and potential use cases.

Some notable examples of Web 3.0 in action include decentralized finance (DeFi) platforms, non-fungible tokens (NFTs), and decentralized social media networks.

Web 2.0 and Web 3.0 differ in many ways, including their underlying technology, user experience, and overall impact on society. While Web 2.0 was primarily focused on user-generated content and social media, Web 3.0 aims to create a more open and decentralized internet that empowers individuals and promotes innovation.

Bitcoin trader: “Welcome to volatility city”

Bitcoin has been experiencing extreme volatility, dropping $10,000 in just a few hours after reaching new all-time highs on March 5. This has created a unique situation for traders on exchanges.

At the moment, the spot price is hovering around $67,400, with traders placing large bets on both the bullish and bearish sides, according to data from Cointelegraph Markets Pro and TradingView.

The stakes are high, as a dip to $64,286 could result in $2 billion worth of long BTC positions being liquidated, as shown by CoinGlass. Even a drop to $60,000 would see $2.33 billion in longs being wiped out, which is still higher than the bounce zone of the $10,000 red daily candle.

On the other hand, breaking the latest all-time high of $69,210 would result in around $1.31 billion of BTC shorts being liquidated, with the number increasing to $1.57 billion at $70,000.

To put things into perspective, BTC/USD recently saw a $1,000 move up and down in just one minute after the latest Wall Street open.

“We’re now seeing $1K candles in 1 minute,” exclaimed popular trader Daan Crypto Trades on X (formerly Twitter).

New 30% BTC price correction warning

According to Cointelegraph, the current all-time high for Bitcoin is a significant psychological barrier for those involved in the market. This area also represents a point of price discovery, with some hodlers still waiting to break even on coins purchased at the previous highs in November 2021.

There is a wide range of opinions among analysts on how high BTC/USD could go, with some predicting six-figure targets while others believe a top is imminent. Michaël van de Poppe, founder and CEO of trading firm MNTrading, falls into the latter group.

In a recent update, Van de Poppe stated, “What’s next? We’ll sweep to $70K and take liquidity as a scenario.” He also believes that Bitcoin has little room left to run before the April block subsidy halving event, and predicts a potential 30% correction when it does occur.