Home Latest News How Crypto Twitter Is Coping With the Latest Bitcoin Meltdown – Decrypt

How Crypto Twitter Is Coping With the Latest Bitcoin Meltdown – Decrypt

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Sometimes, you just have to laugh so you don't start crying. Or tweet so you don't keep refreshing the screen on your dwindling crypto portfolio.
In just 24 hours, the price of Bitcoin and Ethereum fell by over 11% and 15%, respectively. As of publication, a single BTC sells on an exchange for about $37,800, according to CoinMarketCap, its lowest rate since July. Ethereum, meanwhile, stumbled below the $2,800 mark for the first time since a sojourn there in September. And don't even get started on the hundreds of governance tokens, layer-2 assets, and meme coins.
With the total crypto market cap down more than 12% since yesterday, Crypto Twitter is doing its best not to lose its collective mind. In addition to applying the usual bravado about "buying the dip," digital asset holders are deploying some gallows humor to keep spirits higher than their wallets.
Those who quit their jobs during the bull market will need their mood lifted. As Cobie, co-host of the crypto podcast "Up Only," joked: "I had 'fuck you' money but now I got 'I apologise for my previous actions, I was having mental health issues' money."
I had "fuck you" money but now I got "I apologise for my previous actions, I was having mental health issues" money
— Cobie (@cobie) January 21, 2022

Others begged for the market to cool down. "I want people to stop selling because I don't want to have fun staying poor again," Messari CEO Ryan Selkis tweeted, referencing a catchphrase often lobbed by crypto lovers at no-coiners.
I want people to stop selling because I don’t want to have fun staying poor again.
— Ryan Selkis 📖 🖊🔑 (@twobitidiot) January 21, 2022

Gabriel Shapiro, general counsel at Delphi Labs and—by his own reckoning—"literally the worst trader," took a moment to explain why people should stop selling.
people are honestly so stupid
ETH at $4k+: "ETH to $10K by EOY 2022"
"Ahhh ETH is at $2700, time to sell!!!"
I get some people are traders and just trying to re-buy at lows but panic-selling doesn't make you a trader….
— _gabrielShapir0 (@lex_node) January 21, 2022

But perhaps they're on to something, EthHub founder Anthony Sassano wrote, tongue firmly in cheek: 
Can't believe ETH is actually going to 0
— sassal.eth 🦇🔊🐼 (@sassal0x) January 21, 2022

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Lest you be worried that markets will never recover, Solana NFT anon NFToly implied the crypto market almost certainly will rebound:
"Don't worry," NFToly wrote. "Your investments are in good dog coins, OHM forks, and pixel animals. They'll come back."
Gulp.

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She has spent the past eight years playing the role of an infrastructure consultant, and has now joined Inferse.com as a full time blogger. Her current profession is a result of her deep interest in computer gadgets, laptops, gaming accessories and other tech happenings.