Billy Markus, who co-founded and launched the well-known joke cryptocurrency Dogecoin with Jackson Palmer back in 2013, has commented on the additional decline in Bitcoin’s price earlier today, when it dropped below the $39,000 mark, on the social networking platform X and Twitter.
In a recent tweet, Markus, also known on Twitter as “Shibetoshi Nakamoto,” jokingly expressed his displeasure with the volatility of Bitcoin, the largest cryptocurrency in the world—a joke he and Palmer made when they launched DOGE. He said, “Good morning to everyone except Bitcoin.”
https://x.com/BillyM2k/status/1749784040880898194?s=20
The top cryptocurrency fell below $39,000 earlier today, reaching $38,543. But it soon recovered, gaining 2.41% (as opposed to the prior loss of 3.52%), and as of this writing, BTC is trading at $39,471.
Bitcoin bloodbath continues
After the Securities and Exchange Commission approved Bitcoin exchange-traded funds and ETF trading began on January 11, Bitcoin first responded by rising sharply above $49,000.
That did not, however, persist for long, as Bitcoin quickly began to decline. Its price has now dropped from $49,000 to the current $39,471 after a staggering 19.56% loss.
As previously reported, $100 million worth of Bitcoin and other cryptocurrencies were liquidated across a number of cryptocurrency trading sites earlier today, causing a tremendous carnage in the cryptocurrency market.
In addition, a recent tweet from trader and cryptocurrency expert Ali Martinez claims that throughout the past two weeks, Bitcoin miners have sold a significant amount of the cryptocurrency, getting rid of 70,000 BTC, or $3 billion in fiat cash.
Bitcoin is not going into $30,000 range: Samson Mow
Apart from that, Grayscale is dumping coins onto the market from its Grayscale Bitcoin Trust. The business led by Michael Sonnenshein sold 14,292 Bitcoin yesterday for a total value of almost $1 billion.
Even yet, a lot of cryptocurrency investors are hoping that Bitcoin would go below $30,000 so they can begin purchasing the dip. However, prominent Bitcoin advocate and maximalist Samson Mow, CEO of Jan3, does not think this is likely to occur.
Mow is still adamant that Bitcoin will ultimately hit the much anticipated $1 million threshold in the interim. He doesn’t, however, say when it is most likely to occur.
