According to U.Today, Billy Markus, co-creator of Dogecoin, known as 'Shibetoshi Nakamoto' on social media, has made a sarcastic comment on the recent crash of Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE). Markus, who is known for his humorous and sarcastic takes on the cryptocurrency market, posted a screenshot of the two largest cryptocurrencies, BTC and ETH, experiencing a significant correction after their recent price surges. Dogecoin was also behaving similarly. Markus' tweet read, 'oh no everything died we are dead.'
On Friday, BTC, the world's leading cryptocurrency, entered a massive correction, plunging from slightly above $70,000 to the $67,490 zone, losing 7% of its value worth $2,500. It later recovered some of its losses, trading at $67,472 at the time of writing. ETH followed suit, plunging by over 10% from $3,525 to the $3,161 level, but later recovered slightly and is now trading at $3,259. Overall, approximately $735 million worth of cryptocurrencies were liquidated across the market within the last 24 hours.
DOGE also crashed by slightly over 19%, briefly hitting $0.1610. Two recovery attempts led it to $0.1712. This crash and the subsequent market correction occurred less than a week before the upcoming fourth BTC halving, scheduled for April 21. This event, which happens once every four years, will cut the newly minted amount of Bitcoin per block in half, this time reducing it to 3.125 BTC per newly generated block. Many are expecting BTC to skyrocket after this event, with altcoins expected to follow suit.