Dogecoin Developer Expresses Pessimism Towards Upcoming Bull Markets

Learn about the pessimistic viewpoint of a Dogecoin developer regarding the highly anticipated bull markets in the crypto industry. Understand the risks of crypto speculation and the developer's advice to the community.

Posted 6 months ago in Altcoins

A graphic illustrating a bull and bear market in the crypto industry. One of the developers contributing to Dogecoin, @mishaboar, recently shared his thoughts on the anticipated 'bull markets' that many in the crypto community, including Bitcoin maximalists, are expecting. In a tweet, he criticized the ongoing promotion of these 'bull markets' as nothing more than speculative hype, highlighting the gambling nature of crypto speculation. In his message, @mishaboar emphasized that regardless of the cryptocurrency in one's portfolio, whether it's Bitcoin or Dogecoin (DOGE), crypto speculation is simply gambling. He went on to describe the market as unfair and corrupted, fueled by sentiment and hot air. Encouraging the community, he advised against investing any significant funds into crypto, echoing similar advice previously given by Elon Musk. Instead, he suggested using crypto as a decentralized currency and gaining a deep understanding of how it works. These sentiments align with the views expressed by Dogecoin co-founder Billy Markus, who has repeatedly mentioned that predicting cryptocurrency market movements is impossible. Markus also labeled investing in crypto and NFTs as a mental disease, expressing his aversion to meme coins and non-fungible tokens. While he favors Bitcoin and Ethereum, he holds a skeptical stance towards ERC-20 altcoins.

Last updated 9/23/2023, 9:20:27 AM


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