Today, he utilized X/Twitter to express his perspective on the trajectory of the Bitcoin price post-halving, which defied the expectations of numerous investors and traders.

This marked the fourth halving event in Bitcoin’s history, resulting in a halving of block rewards from 6.25 BTC to 3.125 BTC and a reduction in daily new Bitcoins generated from 900 BTC to 450.

In a sarcastic tone, the Dogecoin cofounder criticized the fact that Bitcoin had not experienced a 10x increase in price following the halving as many had anticipated. He derided the reliance of inexperienced investors on sources of data related to the crypto market and cryptocurrencies such as TikTok videos, Discord and Telegram chatrooms, and posts on X/Twitter. He even suggested that these disillusioned novice investors might now perceive Bitcoin as a fraudulent scheme.

Markus has consistently harbored doubts about cryptocurrencies, especially Bitcoin, considering them akin to gambling rather than a sound investment, as indicated by his previous tweets. He has frequently expressed skepticism about the predictability of Bitcoin’s price movements, attributing the fluctuations to simplistic explanations – surges when demand rises and declines when traders sell off.

Just prior to the halving, Bitcoin experienced a nearly 7% surge, adding approximately $5,000 to its value. Subsequently, BTC has seen a modest 1.85% increase amidst minor fluctuations.

This article was initially featured on U.Today