Nakamoto Speaks: Dogecoin Creator Reacts to Crypto Market Bloodbath

Crypto Market Faces Challenges in the Tenth Month

As we embark on the tenth month of 2024, the cryptocurrency market remains in turmoil, experiencing a decline of over $213 billion in total capitalization since the start of the week. This downturn can be attributed to Bitcoin's failure to surpass a crucial resistance level of $66,000.

The bearish price action has sparked panic among market participants, fueled by geopolitical uncertainties. Consequently, the vast majority of cryptocurrencies have fallen into the red, a trend that has persisted for the past four days, causing disappointment and testing the resilience of crypto enthusiasts.

Billy Markus, known as Shibetoshi Nakamoto and a key figure in the creation of Dogecoin, has expressed his sentiments on the situation. In a recent post on social media platform X, Markus-Nakamoto shared a dialogue in which he implores the crypto market to halt its downward spiral and return to a period of mania. However, the market responds with a poignant meme from Captain America in the film "Avengers: Endgame" (2019):

"Can you stop crashing and go back to unsustainable mania please?"
"I can't, I don't know how."

Markus' disappointment resonates with many traders and investors who had anticipated a "green October." However, the market has failed to deliver, leading to continued losses for Bitcoin and other digital assets.