thecoinrepublic.com
- Recent performance of BTC does not impress investors so much.
- Billy Markus assumes that Bitcoin may touch $100,000 in the time ahead.
- Bitcoin and other memecoins on the same ship in the crypto winter.
An average of 10.13% decline in the past 7 days is seen in the world’s largest crypto, Bitcoin. It is trading consistently below its $20,000 level. But in between, it has shown sunlight to traders by coming above the $21,000 price in the past few weeks.
Due to its few right directions that the BTC price has moved, it is again shining in the eyes of investors. But the market’s dumps and pumps are increasing the heartbeat of investors altogether. Ethereum is not also behind in upsetting them with price below $1,292 denoting a downfall of 12.80% from the past ones.
What is Dogecoin Co-founder’s logic?
Billy Markus, co-founder of Dogecoin, believes that Bitcoin may hit $100,000 in future. Madam Doge, a crypto user conflicted her thoughts on Bitcoin rapid ups and down. On 8 November she replied to Billy Markus on Twitter stating – “But isn’t Bitcoin the asset you never ever want to sell because it’ll go to $100k? Mister Saylor said so!”
Respecting her anger upon Bitcoin price, Shibetoshi Nakamoto (Billy Markus) replies- “ it’ll probably reach 100k someday but maybe we will all be dead by then and 100k would buy a sandwich.”
Madam Doge also complained about Michael Saylor’s Bullish price predictions. Microstategy’s co-founder is also a high profile investor of BTC. He thinks that the BTC price may soar to utmost $500,000 in the upcoming decades.
Business intelligence firm, Microstrategy currently holds a total 130,000 Bitcoins worth $2.62 billions. Also, Michael Saylor in the middle of crypto winter made a brave move of buying and holding BTC which depicts the confidence major investors have in the crypto king.
But why is Bitcoin Bleeding ?
Recently,the entire crypto market capitalization is $2 trillion at. But Madam Doge complains of poorly performing BTC. Markus explains massive sellouts of BTC is the main cause.
At the time of writing, Bitcoin is trading at $18,273.93 with a past 24 hour volume of $111.23 billion. Whereas, on 8 November, 2022, BTC touched $20,578.23 progressively.
Dogecoin and other Memecoins also falls in the Pit
Memecoins again jumped in the news after the world’s richest man, Elon Musk acquired Twitter in $44 billion.
According to the Coinmarketcap, Dogecoin currently trading at $0.08675 and Shib Inu at $0.000009958, giving them no way to hide their faces. Markus stated about Dogecoin “People have been suffering, stuck in their homes and struggling, seeing their dollar not go as far as it has previously.”