The global cryptocurrency market capitalisation dropped from $1.88 to $ 1.7 trillion over a period of 24 hours.
Social media was replete with memes and reactions on January 22 about the crash in cryptocurrency markets. The global cryptocurrency market capitalisation dropped from $1.88 to $ 1.7 trillion over a period of 24 hours.
In terms of rupees, Bitcoin fell over seven percent to trade at Rs 29,63,463, while Ethereum fell nine percent to Rs 2,11,277.4.
Meme coin Dogecoin reached its lowest point in more than nine months. Dogecoin has now dropped 18 percent over the last seven days, according to CoinGecko.
“It has been a rough 24 hours for Bitcoin which is below US $36,000 now,” wrote a Twitter user named Shaun Richards.
Another person said: “I just bought the dip but it keeps dipping.”
“Why doesn’t it just go to zero directly,” said a Twitter user named Santhosh Kumar. “Im tired of buying new dip.”
A Twitter account named Deebot said it is better to earn less profit than lose all money in crypto. “My personal opinion in this cryptocrash is buy what you believe in for little amounts and don’t do big buys till you see the market green,” the Twitter user added.
“What is your bitcoin crash strategy?” asked a Twitter user named Guille Carandin. “All in on bitcoin when it falls to 30K, or altcoin buying on discount? In any case, hodl and buy the dip.”
Another Twitter user said he did not understand what people were complaining about. “This is literally jackpot, make some money out of it.”
Others shared memes on Twitter.
Every investor and trader to market.#BitcoinCrash #cryptocrash #stockmarketcrash #StockMarket #cryptocurrency pic.twitter.com/prbgBfDXYb
— Catax – Simple Crypto Taxes (@cataxapp) January 22, 2022
#Crypto #Bitcoin #BitcoinCrash pic.twitter.com/UngjLrLCeo
— PracticalKapital (@invest_ez) January 22, 2022
#BitcoinCrash
Just hold pic.twitter.com/a7Yfsctmfa
— (@AngonChatterjee) January 22, 2022
Cryptocurrency, a tradable digital asset, is highly volatile and the need to regulate it has been discussed often.
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