Yuri Molchan
One of the two DOGE inventors has made a comment on the current Bitcoin price drop
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Billy Markus, who co-founded and launched the iconic meme cryptocurrency Dogecoin with Jackson Palmer in 2013, took to the social network Twitter/X to comment on Bitcoin's further plunge as it fell below $39,000 today .
“Shibetoshi Nakamoto,” as Markus is known on Twitter, said “Good morning to everyone except Bitcoin” in his recent tweet, sarcastically showing his dissatisfaction with the volatility of the world’s largest cryptocurrency, which he and Palmer had parodied when they founded DOGE.
Earlier today, the leading digital currency fell below $39,000 and reached $38,543. However, it quickly recovered and gained 2.41% (versus the previous loss of 3.52%). At the time of writing, BTC is trading at $39,471.
The Bitcoin bloodbath continues
Since Bitcoin exchange-traded funds were approved by the Securities and Exchange Commission and ETF trading began on January 11, Bitcoin initially responded with a sharp rise above the $49,000 mark.
However, this didn't last long and Bitcoin began its rapid descent into the red. It has now lost a whopping 19.56% and has fallen from $49,000 to the current price level of $39,471.
As reported, there was a massive bloodbath in the cryptocurrency market today as $100 million worth of Bitcoin and other cryptocurrencies were liquidated across various crypto trading venues.
Apart from that, according to a recent tweet from cryptocurrency analyst and trader Ali Martinez, Bitcoin miners have dumped a large chunk of Bitcoin in the last two weeks, getting rid of 70,000 BTC (the equivalent of $3 billion in fiat currency). .
Bitcoin fails to rise to $30,000 range: Samson Mow
Aside from that, Grayscale continues to dump Bitcoin into the market from its Grayscale Bitcoin Trust. Yesterday, the company led by Michael Sonnenshein sold 14,292 BTC, worth more than $1 billion.
Although many cryptocurrency traders are hoping that Bitcoin will fall into the $30,000 range so that they can start buying the dip, vocal Bitcoin maximalist and evangelist, CEO of Jan3, Samson Mow, doesn't think that's likely to happen becomes.
Meanwhile, Mow remains adamant that Bitcoin will eventually reach the long-awaited $1 million mark. However, he does not indicate when this is likely to happen.
About the author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. He believes that blockchain and cryptocurrencies have the potential to change the world in many aspects of the future. He has written for several crypto media outlets. His articles have been quoted by crypto influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keizer, etc.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
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