Crypto Market Erases More Than $1 Trillion In Crash-Here's How People Are Reacting
The crypto market crashed and gave jitters to its investors a couple of days back. And how can social media hold back from reacting to such a big news? Let¡¯s have a look at what the downfall was and some of the social media memes and reactions to the global crypto crash that wiped off over $1 trillion market value.
Just about a couple of days back, the crypto market crashed and gave jitters to its investors.
While some resorted to panic selling, some took advantage of it and bought the dips. Nevertheless, in what¡¯s being seen as a glimpse of how the crypto bubble may burst someday, the crypto crash became the talk of the town and grabbed all the headlines.
And how can social media hold back?
Let¡¯s have a look at what the downfall was and some of the social media memes and reactions to the global crypto crash that has already wiped off over $1 trillion market value.
Also Read: 2 More Countries Will Legalize Bitcoin In 2022, President Of World's First Country To Do So Predicts
The Downfall
On January 16th 2022 last week, Bitcoin traded at ?32.06 lakh, and then crashed around 15% to ?27.13 lakh on 21st January 2022, and then again kept on sliding and ended yesterday, 23rd January 2022 at ?26.99 lakh, signalling a close to 17% drop in the past week.
Other cryptocurrencies, too, felt the heat, with Ethereum dropping close to 26%, Binance Coin dropping close to 28%, Shiba Inu dropping around 30% and Elon Musk¡¯s ¡®favourite¡¯ DogeCoin sliding around 32 % in the past week.
Also Read: Does It Make Sense To Cash Your Investments When The Market Crashes?
A Flurry Of Social Media Memes & Reactions
Here are some of the memes and reactions tweeted by people after the crypto market crashed on Friday.
#Crypto #Bitcoin #BitcoinCrash pic.twitter.com/UngjLrLCeo
¡ª PracticalKapital (@invest_ez) January 22, 2022
Every investor and trader to market.#BitcoinCrash #cryptocrash #stockmarketcrash #StockMarket #cryptocurrency pic.twitter.com/prbgBfDXYb
¡ª Catax - Simple Crypto Taxes (@cataxapp) January 22, 2022
Bought the dippity TOP ?#Bitcoin #Crypto #cryptocrash pic.twitter.com/BE7umiqoM6
¡ª Leo (@Seangara_) January 21, 2022
Just in case you need a job.#BitcoinCrash #cryptocrash pic.twitter.com/qVqTby0YM2
¡ª Aden Fauzan (@adenfzn) January 22, 2022
Feel the pain ?#BitcoinCrash #cryptocrash pic.twitter.com/bI90srHjMO
¡ª Rohan (@rohannarcos) January 21, 2022
When the crypto market is dumping, but you refuse to sell anything. #Bitcoin #BitcoinCrash pic.twitter.com/ilFrQnAEEL
¡ª Alt Crypto Mars ? (@altcryptomars) January 21, 2022
Also Read: How The Stock Market Crash Of 1929 Led To World War II
Surely, such big downfalls in prices of major cryptocurrencies since the past one week are indeed something to worry about for investors. But even if the dip continues, it's all about how the investors react.
Some investors have been busy buying the dip, whereas some are piling up losses upon selling their crypto investments due to the fear of a further fall.
All this is similar to what mistakes investors do during stock market crashes as well. Click here to know the mistakes to avoid during such market crashes.
Also Read: Why Stock Market Downfalls Are Actually A Buying Opportunity
For more of such interesting financial content and the latest news, click here.
Click here to download CRED.
