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Glauber Contessoto, known widely as the “Dogecoin Millionaire” for his massive investment in the meme-inspired cryptocurrency earlier this year, tweeted a word of caution about Bitcoin’s (BTC) recent price surge. 
On Oct. 23, Contessoto <a href="https://twitter.com/ProTheDoge/status/1716526123884978527" target="_blank" rel="noopener">urged</a> investors to stay cautious. He claimed that “technically speaking we shouldn’t be anywhere near an actual bull run right now.” 
<blockquote class="wp-block-quote"> 
 The #Bitcoin historically predates all bull runs in the past and the next one isn’t until April 2024. This could merely be a bull trap. Invest accordingly. <cite>Glauber Contessoto</cite>
</blockquote> 
Contessoto took a major risk when he <a href="https://www.cnbc.com/2021/04/22/reddit-trader-im-a-dogecoin-millionaire-inspired-by-elon-musk.html" target="_blank" rel="noopener">invested</a> over $250,000 in Dogecoin (DOGE) in February, when it was trading around 4-to-5 cents. His bet paid off just two months later in April when he became a dogecoin millionaire on paper as the price surged to around 73 cents. 
 You might also like: <a href="https://crypto.news/bitcoin-ready-for-new-rally-as-80-of-supply-is-in-profit/"> Bitcoin ready for new rally as 80% of supply is in profit </a> 
Since then, Contessoto has continued to hold and has refused to sell despite dogecoin’s volatility. The now-millionaire even quit his day job at a music company in June to focus on building his “dogecoin millionaire” persona online. He now requests to be paid <a href="https://www.cnbc.com/2021/07/06/millennial-dogecoin-millionaire-on-being-paid-in-dogecoin.html" target="_blank" rel="noopener">in Dogecoin</a> for any social media promotions he does with crypto companies. 
Bitcoin is trading at over $34,000 as of press time, after seeing an 11 percent increase over the last 24 hours and 20 percent over the last seven days. 
CoinMarketCap’s fear and greed <a href="https://coinmarketcap.com/charts/" target="_blank" rel="noopener">index</a> currently stands at 67.5 — with any level exceeding 50 being considered a greed phase that makes a downturn more likely. 
 Read more: <a href="https://crypto.news/bitcoin-to-hit-45k-in-2023-as-funding-rates-signal-fomo-matrixport-says/"> Bitcoin to hit $45k in 2023 as funding rates signal FOMO, Matrixport says </a>

Dogecoin millionaire suggests Bitcoin’s recent rise ‘might be a bull trap’

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