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DOGE creator – over current crypto market

DOGE creator – over current crypto market

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IT engineer Billy Markus, who founded the first joke coin DOGE in 2013 as a satire on Bitcoin Jackson Palmerhas taken help Twitter on September 22 to conclude recent events in the world and cryptocurrency sector using a sarcastic thumbs up emoji and the phrase “things could always get worse.” Centimillionaire Elon Musk responded to this statement.

Doge’s creator’s Twitter post

The interest rate hike hit Bitcoin

As many market analysts had predicted, Federal Reserve raised interest rates by 75 basis points on September 21, coinciding with the development of the European war.

After this information, the most popular digital currency, Bitcoin, fell well below the $19,000 mark and hit a low of $18,293. BTC has finally recovered and is trading at $18,877 after reaching $19,317 earlier today.

In a post referring to the Federal Reserve report, Chinese crypto writer and blogger Colin Wu stated that “Inflation remains high, reflecting pandemic-related supply-demand imbalances, higher food and energy prices, and broader price pressures.”

Since May of this year Fed has been raising interest rates regularly, putting more pressure on risky assets such as Bitcoin.

Mike Novogratzmanager Galaxy Digital fund and former treasurer at Goldman Sachsrecently claimed in an interview that Bitcoin will start to rise as the Fed shifts its aggressive monetary policy back to quantitative easing.

Bitcoin was able to reach the $24,000 level again in August and early September, reaching a high of $24,588 after trading at the same level as it is now in July.

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