Dogecoin co-founder allowed the possibility of the crypto market to continue to decline for four years
Billy Markus believes that the current selling pressure will not lead to a rebound in asset prices because of the global economic situation
14.06.2022 - 15:00
213
1 min
0
What’s new? Billy Markus, an IT engineer and Dogecoin (DOGE) co-founder, believes that the cryptocurrency market will “be okay eventually.” However, Markus noted that this can take quite some time. In his view, the bearish trend in the market will continue for four years. Markus added that the current selling pressure will not lead to a rebound in asset prices because of the global economic situation. He revealed this on Twitter.
it’ll all be okay eventually just not soon 🤣 maybe like 4 years— Shibetoshi Nakamoto (@BillyM2k) June 14, 2022
As of June 14, 14:30 UCT, bitcoinis trading at $22 108, according to Binance. Ethereum is priced at $1203, while Dogecoin is down by 92,5% from its all-time high of $0,7376 reached in May 2021 and sits at $0,055.
Earlier, analytics firm Glassnode released a report announcing the start of the “darkest” phase of the bear market. Although a number of indicators point to oversold conditions, bitcoin remains correlated with traditional markets and prices are declining concurrently. Micrometric indicators, such as the realized capitalization to transaction value (RVT) ratio, also continue to decline.
Useful material?
Market
Users who have experienced withdrawal problems in the last two days will be eligible to participate
Mar 28, 2024
Market
Last July, a criminal investigation into the exchange was opened by the US authorities
Mar 27, 2024
Market
The unrealized profit from the deal was $8,9 million
Mar 26, 2024
Incidents
The phasing out began on March 25
Mar 25, 2024
Crypto regulations
The new measures must go through additional stages of approval
Mar 25, 2024
Incidents
The popularity of this kind of project launch format has already led to blockchain overload
Mar 20, 2024