Billy Markus, co-founder of Dogecoin, said that the price of Bitcoin could reach $100,000 in one day. However, he adds that this will bring some problems with it.
Dogecoin founder says Bitcoin will hit $100,000
Billy Markus, who co-founded Dogecoin with Jackson Palmer in 2013, said on Twitter that Bitcoin could reach $100,000. However, he adds that with it all consumer goods will also become extremely expensive. Markus’ statements came from a conversation with a Twitter user named “Madam Doge”. Dogecoin founder agrees with Michael Saylor’s $100,000 prediction that BTC will one day reach this level.
However, it has revealed the “pessimistic” sides of thinking that BTC will be this valuable in the future. These; “by then we will all be dead” or “inflation will be so great that $100,000 will be enough to just buy sandwiches”.
The conversation on Twitter began with questions posed to the Dogecoin founder about why the price of Bitcoin fell. Markus answered these questions as “because people sold it”.
Market drops hard in the middle of Binance and FTX war
Bitcoin price lost $20,000 on November 7 due to the conflict between exchanges. It is currently trading around $19,400. Many were confident in the uptrend that BTC eventually managed to recoup some of its losses. However, the conflict of exchanges spread to the general market after FTT. Almost the entire market, including BTC, is currently down over 5%.
According to Coinglass, $112.83 million worth of cryptocurrency liquidations took place this fall. 95% of these positions were on the long side. The total value of the liquidated positions exceeds $300 million. It seems that the conflict between Binance and FTX, which has intensified recently, continues to fuel the decline. Additionally, Ethereum has seen massive outflows from FTX wallets. Ethereum is currently trading below the psychologically important $1,500.
Ethereum investors are following this pattern
According to Santiment Insights, the breakdown of Ethereum investors points to a clear example of buying bearish sentiment. Ethereum holders at small, medium and large addresses seem to be focusing on buying bottoms. Interestingly, small holders with 0.01 to 10 ETH currently accumulated the most. This trend could potentially mean crypto investors trying to divert assets from altcoins to Ethereum among other cryptocurrencies.
Previously, it was found that over 90% of Ethereum (ETH) assets were removed from the FTX main wallet. However, Sam Bankman-Fried explained that FTX has enough assets to cover all of its client assets. cryptocoin.com We have discussed the latest developments in this article.
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