Billy Markus is a well-known personality in the cryptocurrency field. He and Jackson Palmer co-founded the first meme cryptocurrency, Dogecoin, and he often uses X/Twitter.
He tweeted on the causes of the fluctuations in the price of Bitcoin today. It was released following a more than 9% surge in the world’s most popular cryptocurrency, which went beyond $47,000. Submitting content on Twitter under the alias “Shibetoshi Nakamoto,” Markus
Billy Markus talks about Bitcoin price
Markus is well-known on Twitter for his mistrust of trading and investing in cryptocurrencies. He compared cryptocurrency trading to “just investing in mental illness” in a tweet from April of last year. He made the following statement on those who invest in non-fungible tokens (NFTs): “NFTs are a crypto derivative. It’s like a mental illness on top of that.
Billy Markus tweeted today in response to a “frequently asked question” concerning Bitcoin. According to the tweet, Bitcoin increases “after you sell” and decreases “after you buy.” Given that he did not take into account any other considerations, it appears that Markus does not accept the validity of technical or fundamental analysis of the bitcoin market. Alternatively, he just thinks that most traders don’t understand why Bitcoin increases or decreases.
https://x.com/BillyM2k/status/1744437711002308666?s=20
Bitcoin smashes $47,000 ahead of possible ETF approval
The most popular cryptocurrency in the world, Bitcoin, surged by an incredible 8.93% earlier today, breaking $47,000 and reaching $47,201. After this sharp increase, there was a little correction that saw Bitcoin down 1.71% to $46,461, where it is currently trading.
As a result, in the beginning of 2024, Bitcoin reached a new high not seen since April of last year.
The excitement around the spot Bitcoin ETF, which is anticipated from the Securities and Exchange Commission regulator tomorrow, January 10, is the primary cause of the startling and abrupt price spike.
Eleven significant Wall Street firms are currently awaiting a ruling about their ETF filings, which have already undergone many updates in response to SEC requests. Bitcoin is predicted to see a massive influx of US cash and rise to a record high in price should the spot Bitcoin ETF be approved.
