Dogecoin inventor shared his bear market expectations. Billy Markus discusses what to expect from a bearish market.
- 1 What should we expect from a bear market according to Billy Markus?
- 2 Cryptocurrency market downturn was deeper than ever this year
- 3 Dogecoin is up almost 30% in the last week.
- 4 Share this:
What should we expect from a bear market according to Billy Markus?
Founder Billy Markus talks about what to expect from the still bearish market. “Greg” on Twitter asked Markus how long the bear market would last. The DOGE founder answers this question:
Does anyone know how many more days the bear market is supposed to last I’m getting bored with prices not going up anymore
— greg (@greg16676935420) June 26, 2022
The dead cat bounce is a modest, temporary price gain of a crypto, followed by a bearish retracement.
Cryptocurrency market downturn was deeper than ever this year
The cryptocurrency market has fallen hard this year as a result of the Fed’s aggressive monetary tightening stance. The Fed’s “risk aversion” cycle culminated in a bear market. Bitcoin has lost about 70% of its value. Several other cryptocurrencies also experienced similar declines.
Since its inception, cryptocurrencies have experienced a series of massive declines known to the rest of the financial community as “crypto winters” and “bear markets.” John Griffin, a professor of finance at the University of Texas, has similar views on the bear market. He recently noted:
There could be several bear rallies. But I don’t see a spark to reverse the cycle anytime soon.
Dogecoin is up almost 30% in the last week.
DOGE price has been rising steadily since June 18, when it dropped to $0.04. The sixth consecutive day of gains since June 23 is about to happen. Meanwhile, at $0.081, the bulls are heading towards the daily MA 50 resistance. If this threshold is crossed, the $0.12 level will be the next upside target. Dogecoin is up 4% from the last 24 hours at the time of writing. It has gained more than 25% in the last 7 days. Meanwhile, it is trading around $0.07657. In terms of daily growth, it also surpasses the top 10 cryptocurrencies.
According to statistics from IntoTheBlock, Dogecoin whales are on the move again. Accordingly, the number of large transactions has increased by approximately 118% in the last 24 hours. Whale transactions are often worth more than $100,000. Large transaction spikes are sometimes associated with increased activity of buying or selling whales. Additionally, the Dogecoin price is now 54% profit from the last 30 days. We saw the Dogecoin price reach $0.7376 in May last year. It is now 89.64% depreciated from this level.
AmkNews.com As we reported, Tesla CEO Elon Musk recently tweeted 2 tweets for Dogecoin.
Disclaimer: The articles and articles on AmkNews do not constitute investment advice. AmkNews.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is AmkNews an investment advisor. For this reason, AmkNews and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of AmkNews and quoting by giving a link is subject to the permission of AmkNews. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of AmkNews in violation of intellectual property law and relevant legislation.