According to U.Today, Billy Markus, co-creator of the meme-inspired cryptocurrency Dogecoin, has taken to social media to express his sarcastic views on the recent trajectory of Bitcoin's price following its halving. Contrary to the expectations of many investors and traders, the price of Bitcoin did not experience a significant increase after the halving event.
In a tweet, Markus mocked those who anticipated a tenfold increase in the price of Bitcoin within days of the halving, which took place on April 20 at block 840,000. This marked the fourth halving in Bitcoin's history, reducing block rewards from 6.25 BTC to 3.125 BTC and resulting in 450 new Bitcoins generated per day, down from 900 BTC previously. Markus sarcastically commented on the lack of a price surge, suggesting that those who relied on sources such as TikTok videos, Discord and Telegram chatrooms, and Twitter posts for their market information might now consider Bitcoin a scam.
Prior to the halving, Markus had expressed skepticism about the potential for Bitcoin's price to increase. He has previously described cryptocurrencies, particularly Bitcoin, as more akin to gambling than a sound investment. He has frequently stated that he does not believe anyone can accurately predict the direction of Bitcoin's price, attributing price increases to widespread buying and decreases to widespread selling.
In the days leading up to the halving, Bitcoin's price increased by nearly 7%, adding approximately $5,000. Since then, the price has seen a modest increase of 1.85%, following a series of minor fluctuations.
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