Dogecoin Founder: Bitcoin Not Going 10x Right After Halving - “What Scam” but Here’s Catch
U.Today
Published Apr 23, 2024 05:06AM ET
Updated Apr 23, 2024 08:30AM ET
Dogecoin Founder: Bitcoin Not Going 10x Right After Halving - “What Scam” but Here’s Catch
U.Today - Billy Markus, who created the iconic meme-inspired cryptocurrency Dogecoin in collaboration with Jackson Palmer, is known for his sarcastic opinions on what is happening in the crypto space.
Today, he took to X/Twitter to share his take on the path the Bitcoin price has taken after the halving, contrary to the expectations of many investors and traders.
h2 DOGE creator trolls disappointed Bitcoin investors - "what scam"/h2 In his tweet published earlier today, Markus trolled those in the crypto space who expected the flagship cryptocurrency’s price to skyrocket “10x” within a few days after the Bitcoin halving happened (it occurred on April 20 at block 840,000).This was the fourth halving in Bitcoin’s history so far, and it reduced block rewards by half – from 6.25 BTC to 3.125 BTC and down to 450 new Bitcoins generated per day, instead of 900 BTC before that.
The Dogecoin cofounder sarcastically wrote that it was “stupid” that Bitcoin “hasn’t 10x’d in price after the halving already.” He also mocked the sources of data about the crypto market and cryptocurrencies frequently chosen by inexperienced investors – videos on TikTik and chatrooms on Discord and Telegram, as well as posts on the X/Twitter platform. He even went as far as to assume that many of these disappointed newbie investors may start thinking that Bitcoin is a scam now.
h2 Markus's earlier "Bitcoin crash" prediction/h2 As reported by U.Today earlier, three days before the halving, the DOGE co-creator published a tweet of dark irony, asking if the Bitcoin halving means that the BTC price “will get cut in half.”Markus has always been skeptical about cryptocurrencies, particularly Bitcoin, being a good bet, and has viewed them merely as a form of gambling, according to his earlier tweets. He has frequently tweeted that he does not believe anyone can predict which way the Bitcoin price will move, up or down, with the most popular explanation cited by him being that the price rises because everybody buys and it drops because a lot of traders sell it.
One day before the halving, Bitcoin soared by almost 7%, adding roughly $5,000. Since then, BTC has gained 1.85%, after a series of small rises and falls.
This article was originally published on U.Today
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