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Dogecoin co-founder Billy Markus, also known as "Shibetoshi Nakamoto" on X, has reacted to the wave of bold Bitcoin forecasts flooding the crypto media landscape. In a recent tweet, the Dogecoin co-founder poked fun at exaggerated predictions: "Crypto article headlines be like: (random guy no one has heard of) predicts bitcoin will reach $250,000 by the end of the year."
Markus is known for his dry humor and critical take on the state of crypto discourse. While his comment was tongue-in-cheek, it resonated with many in the crypto community.
Since stepping back from the active development of Dogecoin, Markus has remained a vocal and often satirical figure, frequently calling out what he sees as irrational exuberance and misinformation in the crypto space.
At a current price of $107,102, Bitcoin (BTC) is 133% of the ambitious target of $250,000. Hitting this aim in a matter of months would necessitate an explosive rally, which is not impossible but likely unusual at its current pace.
Bitcoin price action
On May 22, Bitcoin reached a new all-time high of almost $112,000. Unlike the rocket rallies to new records that long-time Bitcoin enthusiasts are used to, the cryptocurrency has been climbing at a slower-than-usual pace, fueled by increased institutional ownership and corporate adoption.
At the time of writing, Bitcoin was down 1.13% in the last 24 hours to $107,102, owing to profit-taking following recent highs and macroeconomic concerns in the market.
Bitcoin price predictions
This year, several Bitcoin forecasts have been made. Veteran trader Peter Brandt predicted that Bitcoin would reach $125,000-$150,000 by the end of August.
Geoffrey Kendrick, head of digital assets at Standard Chartered, who predicted Bitcoin would reach $120,000 by the second quarter, stated his price call was "too low."
As reported, market analyst Willy Woo predicted that Bitcoin could skyrocket to $118,000 if its all-time high were decisively breached.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team