“Shibetoshi Nakamoto”, as Markus is known on Twitter, stated in his recent tweet “Good morning to everyone except Bitcoin,” thus showing sarcastically his dissatisfaction with the volatility of the world’s largest cryptocurrency, the one which he and Palmer parodied when they created DOGE.
Earlier today, the leading digital currency dived under $39,000, hitting $38,543. However, it quickly rebounded, adding 2.41% (versus the previous loss of 3.52%) and at the time of this writing, BTC is exchanging hands at $39,471.
However, that did not last long and Bitcoin started its rapid descent into the red. By now, it has lost a whopping 19.56%, falling from $49,000 to the current $39,471 price mark.
As reported, earlier today the cryptocurrency market was struck by a massive bloodbath as $100 million in Bitcoin and other cryptocurrencies were liquidated across various crypto trading venues.
Aside from that, according to a recent tweet of cryptocurrency analyst and trader Ali Martinez, over the period of the last two weeks, Bitcoin miners have dumped a large chunk of Bitcoin, getting rid of 70,000 BTC (the equivalent of $3 billion in fiat).
Still, while a great many cryptocurrency traders hope that Bitcoin will drop into the $30,000 range, so they can start buying the dip, vocal Bitcoin maximalist and evangelist, CEO of Jan3, Samson Mow, does not believe it is likely to happen.
In the meantime, Mow remains a strong believer that Bitcoin will eventually reach the much-expected $1 million mark. However, he does not specify when it is likely to happen.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
