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
229
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?
Incidents
Users were urged to withdraw funds before the site was completely shut down on November 7
May 8, 2024
Market
The outflow persists for four weeks
May 7, 2024
Market
The assets were valued at $630 000 at the time of receipt
May 6, 2024
Incidents
Roger Ver has been accused of not paying taxes
May 1, 2024
Mining
After the publication of the financial report, the company’s shares added 5%
Apr 30, 2024
Market
The commission had previously warned the developer of potential enforcement actions
Apr 29, 2024