Dogecoin founder Bill Markus expressed a somber sentiment about the recent Bitcoin price drop after the cryptocurrency hit highs of $44,000 in early December.
Doge Founder’s Grim Stance on Bitcoin Price Swings
Around the first week of December, Bitcoin saw a surprising rise to over $44,000 from $38,000 sometime in late November. The cryptocurrency has been on a steady upward trend driven by several factors, including anticipation surrounding the U.S. Securities and Exchange Commission’s (SEC) final ruling on spot Bitcoin ETF filings in January.
Despite the positive increases experienced by the cryptocurrency, BTC recently saw its price fall from 2023 highs of over $44,000 to $40,000 following Senator Elizabeth Warren’s anti-crypto statements on Monday and a bill that aims to establish the strictest crypto regulations.
Due to the unexpected price drop, Markus made gloomy comments about BTC’s recent price swings, stating that the cryptocurrency was “in good spirits again.”
When asked by a member of the crypto community what actions to take amid the falling BTC price, Nakamoto humorously replied: “I guess just give it space. Maybe he will eventually leave the room.
At the time of writing, the price of Bitcoin is trading at $42,968, according to CoinMarketCap. The price correction above $42,000 can be attributed to a recent announcement by the US Federal Reserve to keep interest rates stable. Following the Federal Reserve’s decision, BTC saw a price increase of almost 5% and Ethereum also saw a slight price growth.
Grim Crypto Exchange BTC Price Prediction
Positive sentiment around the BTC price has steadily increased following the recent Fed rate announcement and excitement around the Bitcoin halving event scheduled for April 2025.
However, cryptocurrency exchange Changelly contradicted recent positive price predictions for Bitcoin. According to stock market forecasts, the BTC price is expected to see a slight drop of 0.98% before December 15.
Changelly’s forecast expressed a bullish signal of around 17% for the cryptocurrency. Adding to the uncertainty over BTC’s overall price potential, Bloomberg analyst James Seyffart warned against excessive expectations regarding the proposed massive inflows into BTC following the approval of BTC Spot ETFs.
On the other hand, many cryptocurrency investors have made bullish predictions about the Bitcoin bull run, and a popular member of the crypto community, Crypto Rover, predicted that Bitcoin would reach between $150,000 and $220,000 during the Bitcoin bull run.