Billy Markus, co-founder of Dogecoin (DOGE), said that most crypto investors do not have a basic understanding of the market. Here are the details…
Criticism of crypto investors from Dogecoin founder
In a series of tweets on May 17, Markus said that 70 percent of people in the crypto space have “absolutely no idea” He claimed that he was not and did not understand the market fundamentals. Markus also pointed out that most investors do not consider fundamental factors such as market research before investing. “I’m not even sure how many of the investors in the crypto space understand the fundamentals of crypto or how the markets work, but I’m guessing from reading what people are saying, at least 70 percent of them have no idea,” Markus said.
i am not sure how many investors in crypto don’t even understand the fundamental basics of either crypto or how markets work, but i would guess by reading what people say, at least 70% have absolutely no clue
— Shibetoshi Nakamoto (@BillyM2k) May 16, 2022
Cryptokoin.com , Markus has previously stated that 95 percent of cryptocurrency projects are nothing more than “fraud and garbage” with no real value to offer. He observed that most real crypto projects are fighting credibility battles with mainstream investors due to the existence of scams.
Markus also referred to Terra: Stay away!
Markus made statements after the Terra coin crashed with millions of investors losing significant amounts of money. Terra’s founder urged Do Kwon to leave the crypto industry forever. According to Markus, Kwon’s plan to retrieve the crashed coins is to defraud more victims. As an advice to investors, Markus reiterated the importance of fundamental research without falling into the popular online hype about different assets. He also warned against emotional investing, emphasizing the importance of planned market penetration. After what happened, he stated that “LUNA and UST should be avoided”.
As it is known, Markus gained notoriety with DOGE, which he released to mock the state of the crypto market and the prevalence of pointless projects. Despite the motivation behind DOGE’s creation, the coin has been a huge success, attracting millions of investors, including celebrities like Elon Musk. Last year, DOGE was among the highest-yielding assets amongst the continuous development of the network. While the coin’s momentum has stagnated a bit, recent data shows it’s still popular.
