Category: Forex News

Dogecoin (DOGE) Founder Expects Bitcoin (BTC) to Pull Back Lower After New ATH

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Billy Markus, one of the two creators of Dogecoin launched in December 2013, has taken to the X social media network to share a meme that can be interpreted as a Bitcoin price prediction.

Unlike many other cryptocurrency enthusiasts, Billy Markus seems to believe that the world’s leading digital currency is likely to roll back further down after breaking a new historic price record of $69,200 on Monday. Maybe this is because Markus does not consider himself to be a crypto enthusiast, according to his numerous previous tweets dedicated to this topic.

Can Bitcoin go lower than it has already? Markus thinks so

Markus published a meme from an old Hollywood comedy with Danny DeVito, which carries the message “I can go lower.” The DOGE cofounder posted this in the wake of news about Bitcoin rolling back down right after reaching a new all-time high at the $69,200 level on Monday.

Immediately after topping $69,200, Bitcoin collapsed by 14.21% to hit the bottom near the $59,300 level. Reaching it, BTC went back up to settle at $67,300 after more than 13% growth over the past 24 hours, where it is exchanging hands at the time of this writing.

Bitcoin’s staggering bullish performance is believed to be rooted in the continuous demand for Bitcoin coming from spot ETFs. The leading provider here is BlackRock; it surpassed the $10 billion threshold in Bitcoin inflows a week ago and acquired nearly $1 billion recently again. The accumulation of BTC from the market facing a Bitcoin demand shock by the insatiable ETFs has increased overall trust and hunger for Bitcoin from the side of retail and institutional investors, experts believe, making these the two main reasons for Bitcoin surging to its new all-time high.

Dogecoin founder’s Bitcoin statement

About a week ago, Billy Markus commented on the massive 21% Bitcoin rise, when the flagship cryptocurrency hit $64,000. In his style, which is often a mixture of irony and sarcasm, Markus commented on the harsh Bitcoin volatility that may switch on at any moment. This is what he tweeted back then: “I’m afraid to go to sleep cuz bitcoin could either be $100k or $10k when I wake up.”

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