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 if “anything come out of bitcoin miami other than cringe and crashes.”
does anything come out of bitcoin miami other than cringe and crashes
— Shibetoshi Nakamoto (@BillyM2k) April 7, 2022
The 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.
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/14Y3q7TngO
— Bitoshi Nakatito (@titodurriz) June 5, 2021
Keiser’s outburst came after Musk had brought up the environmental concerns surrounding Bitcoin in May and suspended vehicle purchases via the apex coin.
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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