Billy Markus, the founder of the popular joke-themed cryptocurrency Dogecoin, which is the favorite of Tesla CEO Elon Musk, continues to come up with his shares. Billy Markus, known for his criticisms and sarcastic remarks on the crypto money market, shared about the bear market on his Twitter account.
A user named “Greg” asked the Dogecoin founder how long the bear market could last.
"Does anyone know how many more days the bear market is supposed to last I'm getting bored with prices not going up anymore"
Answering this question by stating that he thinks the downtrend will continue, Markus found an interesting analogy:
"sometimes there are dead cat bounces and shit to provide small amounts of dopamine before hopes and dreams are crushed again."
The dead cat bounce that Markus used in his post is known as a small, temporary increase in the price of a cryptocurrency and then the continuation of the downtrend. Markus, who has said sarcastically before, that the bear market will eventually end, but that it may take four years, still thinks that the bear market will not end soon. Dogecoin founder pointed out that the rises in Bitcoin and cryptocurrencies are temporary and the downward trend will continue.
John Griffin, a professor of finance at the University of Texas at the University of Texas who shares bear market sentiments with Markus, said: "Bear markets can happen, but I don't see a catalyst that will end and reverse the downtrend anytime soon." he said.
According to CoinGecko data, Dogecoin (DOGE) price was recorded as $0.07242 at the time of writing, while DOGE's trading volume in the last 24 hours was $982,247,311. Dogecoin (DOGE) price has decreased by -2.2% in the last 24 hours.