Dogecoin’s (CRYPTO: DOGE) co-creator Billy Markus doesn’t have a very upbeat assessment of the Bitcoin 22 conference being held in Miami, Florida. Markus asked on Twitter (NYSE:TWTR) if “anything come out of bitcoin miami other than cringe and crashes.”
does anything come out of bitcoin miami other than cringe and crashesThe Cringe: Last year’s conference featured several moments that could be deemed cringeworthy. Including an appearance of an excitable gatecrashing Dogecoin fan which gatecrashed a discussion on Square’s Lightning Development Kit.— Shibetoshi Nakamoto (@BillyM2k) April 7, 2022
At the event last year, Bitcoin evangelist Max Keiser was seen on stage with MicroStrategy Incorporated (CRYPTO: MSTR) CEO Michael Saylor shouting profanities at Tesla Inc (NASDAQ: TSLA) CEO Elon Musk.
“FUCK ELON, WE'RE NOT SELLING!” — @maxkeiser @ #Bitcoin Miami 2021pic.twitter.com/14Y3q7TngOKeiser’s outburst came after Musk had brought up the environmental concerns surrounding Bitcoin in May and suspended vehicle purchases via the apex coin.— Bitoshi Nakatito (@titodurriz) June 5, 2021
The Crash: The Bitcoin 2021 conference began on June 4 last year and Bitcoin closed at $36,894.41 that day. By June 6, when the conference concluded the apex coin traded at $35,862.38. Just a day after that on June 7 it had dropped to 33,560.71.
While between June 4 and June 6, the drop was 2.8%, by June 7, Bitcoin had fallen as much as 9.03%.
This is not an isolated example: Bitcoin 2019 held between June 25 and June 26 also had a similar effect on the apex coin's prices. It traded at $11,790.92 on June 25, but had fallen to $11,182.81 on June 27 after rising to $13,016.23 on June 26. The fall between June 26 and June 27 was a steep 14.1%.
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