Dogecoin Co-Founder Predicts Bitcoin Will Hit $100,000

Deur NewsBTC - 1 jaar gelede - Leestyd: 2 minute
Di 8 Nov 2022 11:39

Dogecoin Co-Founder Predicts Bitcoin Will Hit $100,000

The largest cryptocurrency, Bitcoin, has suffered a 5% decline from its $20,000 level, which it has maintained for a couple of weeks. However, during the short rally a few weeks back, Bitcoin’s valuation recovered from its three-month low, shooting above $21,000.

These gains brought hope to the crypto market and boosted investors’ confidence that the crypto winter is about to end. However, the November 7 market record has shattered their hopes, with many cryptocurrencies falling back to their decline, including Bitcoin en Ethereum.

But Billy Markus, the co-creator of Dogecoin, believes that Bitcoin may reach $100,000 one day. He said this in reaksie to Madam Doge, a Twitter user who lamented BTC’s current price while citing Michael Saylor’s Bullish Bitcoin voorspellings.

Markus added that Bitcoin price would reach that much in a future where $100k would only buy a sandwich due to inflation or when the current users might have already died. The conversation began with Madam Doge complaining and enquiring why the Bitcoin price fell, while Markus said it was due to massive sellouts.

Possible Reasons Behind Bitcoin Daal

Die afgelope 24 uur Bitcoin dropped below $20,000 and currently trading around the $19,500 level. The asset was trading at $20,400 24 hours ago, the level it managed to maintain for two weeks. The performance got the market thinking that BTC is retracing its way upwards.

Volgens 'n Coinglass-verslag is $112.83 miljoen in kriptogeldeenheid gelikwideer, terwyl 95% van lang posisies uitgewis is. Meer data oor die massiewe verkope het ook gevolg, wat likwidasies ter waarde van $300 miljoen onthul het.

The market volatility often depends on Bitcoin’s performance. However, the present one is different. The liquidation data shows that Ethereum and FTT were probably the cause of Bitcoin’s massive sell-off.

Die vete tussen Binance and FTX resulted in a 19% drop in FTT value. Furthermore, due to potential insolvency issues, FTX decided to raise funds by selling off its Ethereum holdings. Santiment’s report confirmed the increase in selling pressure. The blockchain analytics firm also confirmed the offload of ETH from FTX’s ETH wallets.

Binne 'n paar dae het FTX 300,000 ETH uit sy beursies onttrek, wat gelei het tot hoë verkoopsdruk op Ethereum-markte. Gevolglik het Ethereum en XRP met 6% gedaal, met ETH wat onder sy sielkundige vlak van $1,500 XNUMX daal.

Dogecoin En Ander Memecoins Val terug

Meanwhile, the memecoins which have been in the limelight following Elon Musk’s Twitter acquisition are also down. For example, Dogecoin is faring much worse than Bitcoin and Ethereum, with approximately a 15% loss in valuation, while Shiba Inu (SHIB) dropped 8%.

Tans verhandel DOGE teen $0.08667, met 'n handelsvolume van $2,152,858,888.09. SHIB se huidige prys is besig om te daal, met 'n 24-uur-handelsvolume van $493,920,114.

Oorspronklike bron: NewsBTC