Dogecoin Cofounder Reacts as Bitcoin Skyrockets to $73,000

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Bitcoin (BTC), the largest cryptocurrency by market capitalization, rose to $73,624 on Tuesday before falling below $72,000 early Wednesday.

Despite facing lower bets on Federal Reserve interest rate cuts and reports of U.S. scrutiny of the biggest stablecoin, Tether (USDT), Bitcoin has surged by nearly 73% in 2024.

This remarkable increase has caught the attention of the cryptocurrency community, including Billy Markus, the cofounder of Dogecoin who uses the handle "Shibetoshi Nakamoto" on Twitter.

Known for his candid and humorous commentary on the crypto market, Markus did not disappoint with his latest tweet:

"bitcoin just broke 73k
IS IT TIME TO GET DELUSIONAL AND EUPHORIC YET!?"

Bitcoin's recent rise has put it on track to surpass its March record high of nearly $74,000. The cryptocurrency surged on Tuesday, marking four consecutive days of gains, with its seven-day increase reaching 9%.

Markus, known for his lighthearted yet insightful takes on crypto trends, added his flavor to the moment, tweeting, "Is it time to get delusional and euphoric yet?" in response to Bitcoin’s recent surge past $73,000.

Bitcoin's run beyond $73,000 has fueled positive sentiment on the cryptocurrency market, with many investors expecting the cryptocurrency to reach new all-time highs. The gain represents a 109% increase in Bitcoin's price within the past year.

Markus's reaction reflects the sentiment of a larger part of the crypto community, where the prospect of new highs often sparks both excitement and caution. While some analysts believe Bitcoin might still rise, Markus’s humorous tweet underscores the speculative nature of the cryptocurrency market.

At the time of writing, BTC had slightly reversed some of its earlier gains, marginally up 0.70% in the last 24 hours to $72,008. Read original article on U.Today