The post Worldcoin (WLD) Plunges 13% as Open AI Drive Sam Altman Out appeared on BitcoinEthereumNews.com.

WLD fell to $1.85 after the AI firm revealed that it had fired its CEO. The price may hit $1.65 if selling pressure continues and it approaches oversold levels. If accumulation returns, WLD may retest $2 or flip the $2.20 support. The crypto and AI community was sent into shock on November 17 as the board of OpenAI, the firm behind ChatGPT announced that it had gotten rid of Sam Altman. Sam Altman was the CEO and co-founder of OpenAI, while also being responsible for the development of Worldcoin (WLD). Altman Out, Worldcoin Down As a result of the development, the price of WLD fell. At press time, based on CoinMarketCap’s data, WLD changed hands at $1.85. This value represents a 13.21% decrease in the last 24 hours, indicating massive selling pressure. Meanwhile, OpenAI gave its reasons for giving Altman the boot. According to the company’s official disclosure, the decision to oust the former CEO was because he was not candid in his communication with the board.  “Mr. Altman’s departure follows a deliberative review process by the board, which concluded that he was not consistently candid in his communications with the board, hindering its ability to exercise its responsibilities. The board no longer has confidence in his ability to continue leading OpenAI”, the statement read. With respect to the price action, the WLD/USD 4-hour chart showed that the cryptocurrency had formed a bearish market structure. Coin Edition also took time to look at the Relative Strength Index (RSI). WLD May Reverse After the Dump As of this writing, the RSI was down to 32.20. This RSI reading was a testament to the sell-offs the Worldcoin token has experienced lately. At the same time, the cryptocurrency was approaching the 30.00 oversold level.  If the RSI hits 30.00, a reversal in the…

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Filed under: News - @ November 18, 2023 4:12 pm