It’s sometimes all you can do to keep from sobbing is to laugh. Alternatively, tweet so you don’t have to continue refreshing your crypto portfolio’s shrinking screen.
Bitcoin and Ethereum both lost over 11% and 15% of their value in just 24 hours. A single bitcoin is currently selling on an exchange for around $37,800, the lowest price since July. In the meantime, Ethereum has dropped below $2,800 for the first time since September. Not to mention the dozens of governance tokens, layer-2 assets, and meme coins.
Crypto Twitter is doing its best not to lose its collective mind, with the total crypto market valuation down more than 12% since yesterday. In addition to the customary bravado about “buying the dip,” holders of digital assets are using macabre humor to keep their 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.”
Others pleaded for a market slowdown. “I want people to stop selling because I don’t want to have fun staying poor again,” Messari CEO Ryan Selkis tweeted, referring to a taunt frequently hurled at no-coiners by crypto enthusiasts.
Gabriel Shapiro, senior counsel of Delphi Labs and self-proclaimed “worst trader,” took a few minutes to explain why consumers should stop selling.
However, it’s possible that they’re onto something. With a sly grin on his face, EthHub creator Anthony Sassano wrote:
To allay fears that markets will never recover, Solana NFT anon NFToly stated that the crypto market will almost surely revive:
NFToly wrote, “Don’t worry.” “Good dog coins, OHM forks, and pixel creatures are among your assets. They’re going to return.”