Billy Markus, an IT engineer who co-founded Dogecoin with Jackson Palmer in 2013 as a parody of Bitcoin, has taken to Twitter to discuss the current crypto bear market, its causes, and how long it may stay.
In a tweet that was partly a joke, Markus shared that he expects the crypto market to “be okay eventually.” However, he pointed out that it may take quite a while—”just not soon,” he tweeted. He estimates that the waiting period might be roughly four years.
Markus disagreed when asked if this crypto sell-off would be “fast and aggressive” and result in a large comeback, citing the dire status of the world economy.
The previous crypto winter lasted four years, beginning in January 2018 and ending in 2021, when Bitcoin reached an all-time high of $63,500 in April and then climbed to nearly $69,000 in November.
At the time of this writing, the flagship cryptocurrency is changing hands at $22,326 after facing another drop.
Dogecoin is trading at 0.054
Dogecoin is down around 92% from its historic peak of $0.7376 achieved last May thanks to Elon Musk’s debut on Saturday Night Live on U.S. television.
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