As a researcher with experience in the crypto market, I’ve closely followed the developments surrounding Billy Markus, also known as Shibetoshi Nakamoto and the co-creator of Dogecoin. His recent tweets regarding the Bitcoin collapse on July 4th are noteworthy for their dark irony and timely commentary.
Known as Shibetoshi Nakamoto on Twitter and X, Billy Markus is a well-known figure in the crypto community for co-founding Dogecoin with Jackson Palmer back in 2013.
As a researcher studying the cryptocurrency market, I’ve noticed an intriguing turn of events with Bitcoin. The selling pressure intensified on Thursday, causing its price to plummet dangerously close to the $57,000 mark. In response, an influential figure in the community took to Twitter with a wryly ironic remark as the “Bitcoin bloodbath” continued unfolding.
Bitcoin falls through bottom, Markus comments
The creator of Dogecoin used X platform for a humorous remark about Bitcoin’s downturn and a joyful post in honor of the US Independence Day on July 4th.
I came across a tweet that read, “Happy 4th of July” accompanied by the emoticon, “face with tears of joy.” Surprisingly, this cheerful message was paired with a graph depicting a significant drop in Bitcoin’s value, reaching $55,465.
happy 4th of july 🥲
— Shibetoshi Nakamoto (@BillyM2k) July 5, 2024
As a crypto investor, I’ve noticed that when Bitcoin dipped significantly below $58,000 on Thursday, Shibetoshi Nakamoto expressed his frustration with a simple tweet: “Bitcoin, I despair.” The day prior, in response to numerous Bitcoin enthusiasts and maximalists extolling the virtues of Bitcoin as a symbol of freedom, he countered: “Freedom that gradually fades when prices decline.”
bitcoin represents freedom
freedom that slowly erodes when the price goes down
— Shibetoshi Nakamoto (@BillyM2k) July 3, 2024
Bitcoin plunges to $53,870
Over the last 24 hours, the value of digital gold decreased by 10.67%, dropping from the $60,341 mark to $53,879. In just a few days, since Monday, Bitcoin has experienced a significant loss of over 15%. This equates to nearly ten thousand dollars in price reduction.
Currently, Bitcoin’s price has bounced back slightly and is being traded at $54,366. Samson Mow, CEO of JAN3, expressed his belief in a recent tweet that large Bitcoin investors, or “whales,” are purchasing the cryptocurrency at its dips on the Bitfinex exchange. A week prior, on Friday, he issued a cautionary statement suggesting that the entire current Bitcoin sales would be absorbed by the cryptocurrency market.
As a researcher studying the current trends in the Bitcoin market, I’ve noticed that miners have been consistently selling their long-term Bitcoins and newly-mined ones. Additionally, both the US and German governments have sold significant amounts of Bitcoin. With such large sell-offs, it’s no wonder that the cryptocurrency market has been experiencing some turbulence. In an attempt to mitigate this impact, Tron Founder Justin Sun has expressed his willingness to engage in negotiations with the German government and buy all their Bitcoin holdings.
As a crypto investor, I’m open to discussing a private deal with the German government to acquire their Bitcoin holdings without influencing the market price significantly.
— H.E. Justin Sun å™å®‡æ™¨ (@justinsuntron) July 4, 2024
I’ve come across some news that Mt Gox, one of the earliest Bitcoin exchanges, is making strides to repay its investors. Yesterday, they transferred an impressive $2.71 billion in Bitcoin to the Bitbank exchange in preparation for these payouts. Today, they continued this process by moving an additional $84.87 million in BTC.
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2024-07-05 11:21