The founder of Dogecoin, Bill Markus, has expressed disappointment with the recent drop in Bitcoin’s price after the cryptocurrency reached highs of $44,000 in early December.
Doge Founder Somber Stance Over Bitcoin Price Swings
In the first week of December, Bitcoin saw a surprising surge to over $44,000 from $38,000 in late November. The surge was driven by various factors, including anticipation surrounding the United States Securities and Exchange Commission’s final decision on Spot Bitcoin ETF applications in January.
Despite the positive momentum, Bitcoin has recently seen its price drop from highs of over $44,000 to levels around $40,000, following anti-crypto statements by Senator Elizabeth Warren and a bill aimed at tightening crypto regulations.
In response to the unexpected price decline, Markus made somber remarks on Bitcoin’s recent price swings, stating that the cryptocurrency was “having a mood again.”
When asked what actions to take amidst the price decrease, Nakamoto humorously replied, “Just give it space, I guess. It’ll come out of its room eventually, maybe.”
At the time of writing, the price of Bitcoin is trading at $42,968 according to CoinMarketCap. The price correction to above $42,000 can be attributed to a recent announcement made by the US Federal Reserve to uphold stable interest rates. Following the Fed’s decision, Bitcoin saw a price increase of almost 5%, and Ethereum also experienced a slight price growth.
Crypto Exchange Somber BTC Price Prediction
The positive sentiment surrounding Bitcoin’s price has been rising steadily following the Fed’s recent rate announcement and the excitement regarding the Bitcoin halving event scheduled for April 2025.
However, crypto exchange Changelly has countered recent positive price predictions for Bitcoin. According to the exchange’s predictions, the price of Bitcoin is expected to see a slight 0.98% drop by December 15.
Changelly’s forecast has expressed a bearish signal of around 17% for the cryptocurrency. Adding to the uncertainty of Bitcoin’s overall price potential, Bloomberg Analyst, James Seyffart, has warned against over-expectations concerning proposed massive inflows into Bitcoin following the approval of Spot Bitcoin ETFs.
On the other hand, many crypto investors have made optimistic predictions on the Bitcoin bull run, with a popular crypto community member, the Crypto Rover, predicting Bitcoin to reach $150,000 to $220,000 during the bull run.
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