Dogecoin Co-Creator Doubts Bitcoin Price Will Hit New ATH Soon

Billy Markus, the co-creator of Dogecoin, has once again taken to social media to share his perspective on the current state of cryptocurrency markets. The developer, who launched the meme coin alongside Jackson Palmer in 2013, expressed skepticism about the prospect of new all-time highs in the immediate future.

Markus posted his thoughts on X, stating that while the cryptocurrency sector appears healthy, he remains unconvinced about imminent record-breaking price levels. His comments come at a time when major digital assets continue to trade well below their previous peaks.

The Dogecoin co-founder wrote that he would rather wait for concrete evidence of new all-time highs before getting excited about current market conditions. His tweet suggested a measured approach to evaluating crypto performance, despite generally positive market sentiment.

Selective Endorsement of Digital Assets

Markus has been vocal about his preferences within the cryptocurrency space. Based on his public statements, he reserves respect for a limited number of projects. Bitcoin and Ethereum top his list, followed by Dogecoin and a handful of other alternative coins.

This selective stance sets him apart from many crypto enthusiasts who embrace a broader range of digital assets. Markus maintains clear boundaries about which projects he considers legitimate or worthy of attention.

His skepticism extends beyond individual coins to entire categories of crypto activity. The developer has repeatedly compared cryptocurrency trading to gambling. He has even suggested it resembles a compulsive behavior rather than a rational investment strategy.

Markus holds similarly negative views about non-fungible tokens. He has criticized both the NFT market and those who participate in collecting or trading these digital collectibles. His position reflects a cautious approach to newer developments in the blockchain space.

Bitcoin's Recent Price Movements

Bitcoin reached its most recent all-time high on October 6, when the cryptocurrency touched $126,198. The milestone marked a significant achievement for the digital asset market.

Since that peak, Bitcoin has experienced substantial volatility. The cryptocurrency currently trades around $95,234, representing a decline of approximately 25% from its record level.

SHIB’s price action over the past 24 hours (Source:CoinCodex)