As Cryptos Crash, Twitter is Drowning in Memes
Bitcoin and several other cryptocurrencies have been on a wild ride in the past few weeks. Just earlier this week, Bitcoin dropped to $29,000 — before bouncing back — following China’s newly announced crackdown on the crypto which triggered the shuttering of several mining sites.
See: Crypto Crash: Is It Worth Investing Now or Should You Hold Off?
Find: Cryptocurrency: Breaking Down the Basics
To put this in perspective, Bitcoin, which today stands at $33,000, is down almost 50% from its high of $65,000 in April.
And the crypto market cap, which today stands at $1.32 trillion, according to CoinMarketCap, fell by nearly $230 billion between June 20 and June 22, according to Cointelegraph. It has managed to regain $76 billion in value on June 23.
These wild swings have put investors on edge, and many are taking to Twitter to talk about the #cryptocrash, whether they are buying the dip, hodlers, are just simply frustrated.
Users are feeling the stress as they are “watching crypto charts live”:
watching crypto charts live #cryptocrash pic.twitter.com/WSQD2r2I6T
— BOUGHT BTC AT $64,854 (@erroll101) June 22, 2021
Other users say the “struggle is real”:
#cryptocrash
Struggle is real ???????? pic.twitter.com/qUVN93j1a3
— Kritika Kapoor (@Kritikaaa_10) June 22, 2021
Some, like this user, is all for Hodlers:
Right now situation #cryptocrash #BitcoinCrash pic.twitter.com/RSDBxixanS
— Heart_Hacker_Nik (@NikhilK43260883) June 22, 2021
Others, like Clueless Holdler, are blaming the crash on China:
#cryptocrash
The Art: The artist: pic.twitter.com/g9ddi7e6xz
— cluelesshodler (@cluelesshodler_) June 22, 2021
Then there’s Pragya Sharda, whose Twitter profile reads “I invest in crypto and when it dips, I laugh and make memes about it. That’s how it should be like, right?” who tweeted “been a month already” about the bear market:
Been a month already ????#cryptocrash #HODLING #BitcoinCrash pic.twitter.com/JlH04vwsBs
— Pragya Sharda (@PragyaSharda) June 22, 2021
And finally, some “veteran Hodlers,” such as The Cryptic Poet, are enjoying the ride:
Crypto veteran HODL'ers be like… pic.twitter.com/o7RjnnimGs
— The Cryptic Poet (@1CrypticPoet) June 21, 2021
See: Bitcoin Crashes Constantly, But These Investors Won’t Sell – Why ‘HODLers’ Buy the Dip and Hang On Tight
Find: If You Invested $1,000 in These Cryptocurrencies a Year Ago, Here’s How Much You’d Have Now
Whether you’re a crypto novice or a veteran investor, a HODLER or a panic seller, what matters when it comes to cryptos is remembering that volatility is part of the game: one Musk tweet or one China crackdown can make all the difference in a second.
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