Today, he took to X/Twitter to share his take on the path the Bitcoin price has taken after the halving, contrary to the expectations of many investors and traders.
This was the fourth halving in Bitcoin’s history so far, and it reduced block rewards by half – from 6.25 BTC to 3.125 BTC and down to 450 new Bitcoins generated per day, instead of 900 BTC before that.
The Dogecoin cofounder sarcastically wrote that it was “stupid” that Bitcoin “hasn’t 10x’d in price after the halving already.” He also mocked the sources of data about the crypto market and cryptocurrencies frequently chosen by inexperienced investors – videos on TikTik and chatrooms on Discord and Telegram, as well as posts on the X/Twitter platform. He even went as far as to assume that many of these disappointed newbie investors may start thinking that Bitcoin is a scam now.
Markus has always been skeptical about cryptocurrencies, particularly Bitcoin, being a good bet, and has viewed them merely as a form of gambling, according to his earlier tweets. He has frequently tweeted that he does not believe anyone can predict which way the Bitcoin price will move, up or down, with the most popular explanation cited by him being that the price rises because everybody buys and it drops because a lot of traders sell it.
One day before the halving, Bitcoin soared by almost 7%, adding roughly $5,000. Since then, BTC has gained 1.85%, after a series of small rises and falls.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
