Dogecoin Creator Reacts to Bitcoin's Sudden Plunge

Santiago Lopez
1 min read

The founder of Dogecoin, Billy Markus, also known as 'Shibetoshi Nakamoto,' has commented on the recent Bitcoin crash, expressing his view through a meme from the movie Star Wars II. Bitcoin took a surprising 7.33% nosedive in value, losing thousands of dollars within hours. Grayscale ETF suffered massive outflows of over $302 million, and the Federal Reserve's reduced interest rate prospects likely contributed to this rapid decline. The cryptocurrency market experienced around $500 million in liquidations, with a single large liquidation totaling nearly $8 million. Based on Markus’s previous tweets, he believes that predicting cryptocurrency price movements, especially Bitcoin's, is futile. He emphasizes that crypto is largely speculative and holding it for extended periods may not be mentally healthy.

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