Dogecoin Founder: Bitcoin Not Going 10x Right After Halving – “What Scam” but Here’s Catch

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Billy Markus, co-founder of Dogecoin alongside Jackson Palmer, is recognized for his humorous and satirical views on crypto market events.

Currently, he expressed his views on Twitter/X social media platform regarding the unexpected Bitcoin price trend following the halving event, which contrasted the predictions of numerous investors and traders.

DOGE creator trolls disappointed Bitcoin investors – “what scam”

Markus poked fun at crypto enthusiasts in a recent tweet who anticipated a significant price increase of up to ten times for the leading cryptocurrency following the Bitcoin halving event on April 20, which occurred at block 840,000.

Bitcoin experienced its fourth halving event, resulting in a reduction of block rewards by half. This meant the reward for mining a new block dropped from 6.25 Bitcoins to 3.125 Bitcoins, and the daily generation of new Bitcoins decreased from 900 to 450.

The Dogecoin co-founder quipped that it was surprising Bitcoin hadn’t yet increased tenfold in value following its halving event. He additionally poked fun at the questionable data sources relied upon by novice crypto investors – TikTok videos, Discord and Telegram chatrooms, and Twitter/X posts. The co-founder further speculated that some of these disillusioned new investors could begin doubting Bitcoin’s legitimacy as a result.

i think it’s stupid that bitcoin hasn’t 10x’d in price after the halving already

i did a ton of research watching tiktok videos and chatting on alpha discord groups and telegrams and reading 𝕏 posts and i don’t get why i’m not super rich doing nothing yet

what a scam

— Shibetoshi Nakamoto (@BillyM2k) April 22, 2024

Markus’s earlier “Bitcoin crash” prediction

According to an earlier report by U.Today, three days prior to the Bitcoin halving event, the co-founder of Dogecoin made a witty remark on Twitter, jokingly questioning whether the price of Bitcoin would be reduced by half following the halving process.

Markus has frequently expressed his doubts about cryptocurrencies, including Bitcoin, being a sound investment through his past tweets. He sees cryptocurrencies as more akin to gambling than a reliable financial asset. In multiple tweets, he has stated that it’s impossible to accurately predict Bitcoin’s price trend – whether it will increase or decrease. His most commonly cited reason is that the price surge occurs due to widespread buying, while the price drop results from massive selling of Bitcoin (BTC).

The day prior to Bitcoin’s halving event, its price surged by nearly 7%, resulting in an approximately $5,000 increase. Subsequently, BTC experienced a gain of around 1.85% following a sequence of minor fluctuations.

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2024-04-23 12:19