On social media, Markus is widely known under the alias Shibetoshi Nakamoto. In this post, the popular “WAGMI” acronym was mentioned, which is supposed to be bullish and optimistic.
In that screenshot, Bitcoin dropped below the $98,000 level, but in the past hour, the world’s flagship crypto has extended its crash by going down to $96,076 per coin. Overall, since Thursday, this constitutes a 6.45% decline from the $102,000 price mark.
Shibetoshi Nakamoto’s brainchild, Dogecoin, has crashed harder, falling by almost 17% from $0.36668 to $0.30491, where it is currently changing hands.
The second biggest cryptocurrency by market cap, Ethereum, has experienced an 11.2% crash, rapidly declining from $3,711 to $3,301 as of this writing.
The crypto market has faced stunning losses as $1.2 billion worth of crypto has been wiped out. Among those, the liquidations of long positions constituted the majority of the losses – $1.07 billion triggered by the speech of the Fed Reserve chairman Jerome Powell that the U.S. central bank intends to drastically reduce interest rate cuts. The next easing will be 25 basis points rather than 100, as was expected by crypto fans and the financial community in general.
Shibetoshi Nakamoto reacted by posting an animated GIF to agree with that statement. But that response also seems rather ironic.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
