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

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Шейшемби, 8-ноябрь, 2022-жыл, 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 жана Ethereum.

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

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 баш тартуу

Акыркы 24 саатта, 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.

Бир Coinglass отчетуна ылайык, $ 112.83 миллион cryptocurrency жоюлган, ал эми узун позициялардын 95% жок кылынган. Андан кийин массалык түрдө сатылып кетүү тууралуу дагы маалыматтар келип, 300 миллион долларга бааланган жоюуларды көрсөттү.

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.

The feud between 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.

Бир нече күндүн ичинде, FTX өзүнүн капчыктарынан 300,000 6 ETH чыгарып, Ethereum базарларында жогорку сатуу кысымына алып келди. Натыйжада, Ethereum жана XRP 1,500% га төмөндөдү, ETH XNUMX доллар психологиялык деңгээлинен төмөн түштү.

Dogecoin жана башка Memecoins кайра түшүп

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%.

Азыркы учурда, DOGE $ 0.08667 боюнча соода жатат, соода көлөмү $ 2,152,858,888.09. SHIBдин учурдагы баасы төмөндөп, 24 сааттык соода көлөмү 493,920,114 XNUMX XNUMX долларды түздү.

Original булагы: NewsBTC