Dogecoin founder Billy Marcus gave his thoughts on the recent crypto crash that affected multiple cryptocurrencies, including Dogecoin. Marcus issued a statement to X saying, “Cryptocurrency is certainly great if you have poor mental health.”
After a recent surge that saw Bitcoin (BTC) hit a new all-time high (ATH) of $73,835, the crypto market took a downtrend over the weekend. After a month of bullish highs and swings, investors’ pupils dilated as they saw many coins fall into the red. That's why Marcus, known as Shibetoshi Nakamoto on social media, says the best times can also come when investing in cryptocurrencies.
Tuesday’s data from CoinGlass reveals that there were $637.31 million in liquidations in the past 24 hours. Specifically, $526.49 million of this amount was long-term liquidation and $110.82 million was short-term liquidation. Therefore, this data reveals how sudden the market downturn was, as many holders did not expect such a sharp fall in the cryptocurrency.
Also read: Top 3 cryptocurrencies to sell before they crash
Bitcoin (BTC) led the decline, falling 7% in the past 24 hours. Many believe that Bitcoin's surge in March was the catalyst for the overall market rally. BTC's decline is in line with last week's market deficit.
Marcus has previously stated on X that he does not consider cryptocurrencies to be long-term investment assets. Last week, the Dogecoin founder shared another comment questioning the sanity of crypto holders. Marcus feels that you need a strong heart to enjoy the cryptocurrency market, as the market is very sensitive and many ups and downs are expected in the future.
