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<div class="cryptonews">
 <p class="is-style-lead">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) <a rel="noopener noreferrer nofollow" title="recent" href="https://thebittimes.com/tag/recent.html">recent</a> price surge.</p>
 <p>On Oct. 23, Contessoto urged investors to stay cautious. He claimed that “technically speaking we shouldn’t be anywhere near an actual bull run right now.”</p>
 <blockquote class="wp-block-quote">
  <p>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.</p> <cite>Glauber Contessoto</cite>
 </blockquote>
 <p>Contessoto took a major risk when he invested 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 <a rel="noopener noreferrer nofollow" title="millionaire" href="https://thebittimes.com/tag/millionaire.html">millionaire</a> on paper as the price surged to around 73 cents.</p>
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 <p>Since then, Contessoto has continued to hold and has refused to sell despite dogecoin’s volatility. The now-<a rel="noopener noreferrer nofollow" title="millionaire" href="https://thebittimes.com/tag/millionaire.html">millionaire</a> even quit his day job at a music company in June to focus on building his “dogecoin <a rel="noopener noreferrer nofollow" title="millionaire" href="https://thebittimes.com/tag/millionaire.html">millionaire</a>” persona online. He now requests to be paid in Dogecoin for any social media promotions he does with crypto companies.</p>
 <p>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.</p>
 <p>CoinMarketCap’s fear and greed index currently stands at 67.5 — with any level exceeding 50 being considered a greed phase that makes a downturn more likely.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/dogecoin-millionaire-suggests-bitcoin-s-recent-rise-might-be-a-bull-trap-tbt67586.html">https://thebittimes.com/dogecoin-millionaire-suggests-bitcoin-s-recent-rise-might-be-a-bull-trap-tbt67586.html</a></p>

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

TheBitTimes

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