As Cryptos Implode, Dogecoin Co-Founder Billy Markus Says Crashes in Crypto Happen ‘A Lot’

January 23, 2022Updated: January 23, 2022

The overall cryptocurrency market remains in the red on Sunday,  the world’s biggest cryptocurrency Bitcoin is trading at $35,715.09 down 17.15 percent in the past 7 days.

BTC dropped below the key psychological level of $40,000 Friday. The bloodbath continued on Saturday as the apex crypto further dropped to a low of  $34,349.25, before closing just above the $35,000 mark.

Ethereum, meanwhile, is trading at $2,493.99 down 25.02 percent in the past 7 days. The second-biggest crypto fell below the key $3,000 level on Friday.

Almost all of the world’s 100 biggest tokens are currently trading in the red, as the overall cryptocurrency market cap sits at $1.6 trillion.

Binance Coin has slumped over 23 percent, and Cardano is down over 20 percent in the past seven days.

On Sunday, Dogecoin was trading at $0.1386, after a decline of over 22 percent over the same period, while both Solana and Polkadot have crashed over 30 percent.

In the midst of the crypto market turmoil, Dogecoin co-creator Billy Markus is reminding his Twitter followers that, “crashes happen in Crypto.”

Markus added that current market conditions simply reflect the underlying sentiment of those involved in crypto, expressing his frustration with community.

Responding to his tweet, one follower wrote, “The difference is now. It won’t take 3 years to recover, with today’s exposure it could happen in 3 months.  Hell even 3 weeks with the right help.”

Another follower responded, saying, “I’m ready to buy it all up too! This is the discount I wanted.”

Markus also reflected on the market’s performance last year, noting how far things have fallen so far in 2022.

By Bibhu Pattnaik

© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.