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Twitter witnesses a torrent of hilarious memes as Bitcoin crashes โ€“ TechStory

December 4, 2021No Comments

Meme fest is back on Twitter once again following the fall in the prices of Bitcoin and other cryptocurrencies on Saturday. It looks like the crypto domain is not going to have a happy weekend. Although the price drop is not a new scenario, the fact is that every time the cryptocurrency roller coaster falls, investors get frantic with the whole dilemma of buying the drop or holding it. And most of the time this mental turmoil is expressed in the form of hilarious memes. As Chandler put it, "I use humor as a defense mechanism." It seems like the entire crypto community follows that advice every time the chart drops.

The what and the why

The fall that shook the market on Saturday is attributed to risk aversion that is leaving an impact on financial markets. Following the crash, the world's largest cryptocurrency fell nearly 10 percent to $ 42,296 after trading for $ 48,300. And if the reports are to be believed, the decline has exceeded 20 percent. This is despite hitting an all-time high on November 10. It has not been a good time for Ether either. It fell almost 17.4 percent. The drop has taken a toll on the crypto dominance as a whole as it witnesses a decline in its value to $ 2.2 trillion. This is according to CoinGecko reports.

Cryptocurrencies are volatile and uncertain, and that's nothing new. With its 24/7 trading, prices can drop and swing, especially on weekends. The reasons are many. Sometimes trading volumes are low and at other times prices may fall due to the disconnected market structure of the multitude of exchanges. And for the moment, the climate has not been favorable for financial markets in general, as it is constantly affected by various challenging factors ranging from inflation to omicron. With inflation in place, central banks have no choice but to tighten their monetary policy. The omicron variant is also proving to be a big question mark for the overall global economy.

Memes On Twitter

As usual, the news of the accident acted as a catalyst for a shower of hilarious memes and responses on Twitter. Every time the crypto fails, it is as if Twitter sarcastically climbed up to deal with the effects. And as a result, we have a chain of memes that put us in a dilemma between laughing or crying. Let's run through a couple of these memes that appeared on Twitter like mushrooms during the monsoon after the news of the accident.

Experience is what matters

This meme never goes out of style.

I don't know whether to cry or laugh.

At least the collapse is helping Twitterati work on his meme-making skills.

Now that is exact.

You know if you know.


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