Dogecoin Founder Issues Bitcoin Statement on Further BTC Drop
U.Today – Billy Markus, who founded the iconic meme cryptocurrency along with Jackson Palmer in 2013 and launched it, took to the Twitter/X social network to comment on the further drop it suffered today when it fell below the $39,000 level.
“Shibetoshi Nakamoto”, as Markus is known on Twitter, stated in his recent tweet “Good morning everyone except Bitcoin”, thus sarcastically showing his discontent with the volatility of the world's largest cryptocurrency, which he and Palmer parodied when they created DUX.
Earlier today, the leading digital currency sank below $39,000, reaching $38,543. However, it quickly recovered, adding 2.41% (up from the previous loss of 3.52%) and at the time of writing, BTC is trading at $39,471.
Bitcoin bloodbath continues
Since the approval of Bitcoin exchange-traded funds by the Securities and Exchange Commission and the start of ETF trading on January 11, Bitcoin responded for the first time with a sharp rise above the $49,000 level.
However, that did not last long and Bitcoin began its rapid descent into the red. So far, it has lost a whopping 19.56%, falling from $49,000 to the current price of $39,471.
As reported, the cryptocurrency market was hit by a massive bloodbath today as $100 million worth of Bitcoin and other cryptocurrencies were liquidated across several cryptocurrency trading venues.
Aside from that, according to a recent tweet by cryptocurrency analyst and trader Ali Martinez, over the past two weeks, Bitcoin miners have dumped a large portion of Bitcoin, dumping 70,000 BTC (the equivalent of $3 billion in fiat currency). .
Bitcoin Won't Enter $30,000 Range: Samson Mow
Aside from that, Grayscale continues to dump Bitcoin from its Grayscale Bitcoin Trust into the market. Yesterday, the company headed by Michael Sonnenshein sold 14,292 BTC worth over $1 billion.
Still, while many cryptocurrency traders expect Bitcoin to fall to the $30,000 range, so they can start buying the dip, Bitcoin maximalist and evangelist Jan3 CEO Samson Mow doesn't think it's likely to happen.
Meanwhile, Mow remains a firm believer that Bitcoin will eventually reach the long-awaited million-dollar mark. However, he does not specify when that is likely to happen.
This article was originally published on U.Today.
