Introduction
Billy Markus, the co-founder of the renowned meme cryptocurrency Dogecoin along with Jackson Palmer in 2013, recently took to Twitter/X social media network to express his views on Bitcoin’s significant drop. In a sarcastic tweet, Markus, known as “Shibetoshi Nakamoto” on Twitter, greeted everyone except Bitcoin, highlighting his discontent with the volatility of the world’s largest cryptocurrency, which inspired the creation of DOGE.
Bitcoin’s Plunge
Earlier today, Bitcoin saw a further decline, breaching the $39,000 level and hitting a low of $38,543. This represents a staggering 19.56% loss from its price of $49,000. The overall cryptocurrency market witnessed a substantial sell-off, resulting in the liquidation of $100 million in Bitcoin and other cryptocurrencies across different trading platforms.
Dump of Bitcoin by Miners
Additionally, cryptocurrency analyst and trader Ali Martinez revealed via Twitter that Bitcoin miners have dumped a significant amount of the cryptocurrency, offloading 70,000 BTC, equivalent to $3 billion in fiat, within the past two weeks.
Conflicting Views on Bitcoin’s Future
While several traders are eagerly waiting for Bitcoin to dip into the $30,000 range so they can buy, Bitcoin maximalist and CEO of Jan3, Samson Mow, remains skeptical about the likelihood of this happening. Mow, a vocal advocate of Bitcoin, firmly believes that the cryptocurrency will eventually reach the long-anticipated $1 million mark.
In conclusion, Billy Markus, one of the creators of Dogecoin, expressed his dissatisfaction with Bitcoin’s recent plunge. The cryptocurrency market experienced a significant sell-off, resulting in the liquidation of millions of dollars of Bitcoin and other cryptocurrencies. Interestingly, Bitcoin miners have been dumping large amounts of the cryptocurrency, amounting to billions in fiat. While some traders hope for a further decline to make purchases, Samson Mow remains doubtful about Bitcoin dropping into the $30,000 range. Nonetheless, Mow continues to have strong faith in the eventual rise of Bitcoin to $1 million.