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Amid reports that China is stepping up its crackdown on digital coin mining and trading, the cryptocurrency market has collapsed again, with major coins like Bitcoin, Ether, and Dogecoin all losing massive values before. to manage some recovery Tuesday morning. The world’s largest cryptocurrency, Bitcoin, even fell below the token price threshold of $ 30,000 (around Rs. 22.3 lakh), losing nearly 50% of its gains this year, although it fell. be corrected a little now.
Following market sentiment, Ether and Dogecoin also lost a large chunk of their values before rebounding a bit to recoup their losses. Since the crash, Internet users have expressed their frustration and hope by flooding social networks with memes.
In April, Bitcoin had hit a record high of around $ 65,000 (around Rs. 48.3 lakhs). As of then, on June 23 around 11:30 am IST, the price of Bitcoin in India stood at Rs 25.4 lakhs. The cryptocurrency markets are showing some improvement over the past 24 hours, but are still below even this weekend, and far from the May highs.
This has led many users to express their frustration on social media, joking about CryptoCrash and BuyTheDip. In one of the most hilarious memes, user Roni Patel posted a 4-photo collage featuring actor Rowan Atkinson from the popular sitcom Mr. Bean. The photos show Mr. Bean waiting endlessly, constantly checking his watch, before finally giving up. The user captioned the post, with crypto investors waiting for the market to recover.
#cryptocrash #dogecoinCrypto investors wait for the market to recover either like: pic.twitter.com/gi7H2FMV6C
Roni Patel (@yesiamronnie) June 22, 2021
Another user, CryptoAccasBoom, posted a photo of 3 men of varying sizes, showing Bitcoin’s drop in the past two months, with the highest being the price of the cryptocurrency in April.
Day made ???? #cryptocrash #Bitcoin #Crypto pic.twitter.com/Lb5R10TmYN
CryptoAccasBoom (@CryptoAccas) June 22, 2021
Another user, Osama Siddiqui, represented the current scenario by posting a photo showing red and green chili peppers making candlestick patterns from the fall of Bitcoin. He captioned the post, Market now.
Market right now #crypto #cryptocurrency #Bitcoin #etherium #dogecoin #Binance #cryptocrash #cryptotrading pic.twitter.com/7byzrl8TRt
Oussama Siddiqui (@Cryptosamaa) June 21, 2021
Here are more interesting memes:
The value of my wallet #cryptocrash #buythedip pic.twitter.com/cZ7JQ3Oces
#Cryptocrash !!!!? (@itsmnisk) June 22, 2021
make memes on #cryptocrash losing all my savings # dogecoin pic.twitter.com/wYJjSDTFEj
fullvikas (@not_vikash) June 22, 2021
Another #dogecoin debacle. Was going well in May But again #cryptocrash # cryptocurrency pic.twitter.com/s602G9tGl6
Green_Earth (@ GreenEa70900463) June 22, 2021
Buy high, sell low ???? # BTC #cryptocrash # cryptocurrency pic.twitter.com/uhEoGeWg8k
Shuvam Jaiswal (@_shuvamJ) June 22, 2021
To anyone complaining about #cryptocrash pic.twitter.com/2OTFKu5gwU
Jon (@jonfromIA) June 22, 2021
The dip keeps dropping but I’m not selling! #cryptocrash #HODL pic.twitter.com/cbVBp8LqlL
edwin (@Spidey_Knight) June 22, 2021
Major cryptocurrencies had also crashed last month when reports of China’s intensified efforts to crack down on Bitcoin mining began to circulate. Following the warning, Bitcoin miners suspended their Chinese operations. China accounts for 70% of the global crypto supply.
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