Bitcoin, a cryptocurrency, has just got its biggest dip in the day from $40,000 to $38,014.15(lowest) which is almost a 10% fall so far. Bitcoin was down 5.6% over the last 24 hours. It is believed that the tension between Ukraine and Russia could be the reason behind the fall. The current ongoing exchange of dialogues between the United States with Ukraine and Russia is very fragile and diplomatic which is why any moment can change the table upside down.
The tension is just increasing with every second but at the same time, Twitter is flooding with hilarious memes to ease the pressure. Or just to let you know that you are not alone.
https://twitter.com/Capable01/status/1495376601952964613?s=20&t=Zcb1fOSjPg6AVaVTfwxnSw
It’s your first time huh? Lol #cryptocrash pic.twitter.com/0vERTm335w
— MiguelNFT.eth (@biigmiigz) February 19, 2022
If you are also new to this up-down confusion, keep down to the article.
Bitcoin fall is not a new thing in the market. In the last year 2021, when coronavirus was at its peak, bitcoin was at its lowest. Bitcoin lost half its value in two days. Over a month, it fell from above $10,000 in February to below $4,000 in March.
Cryptocurrencies work on blockchain technology which makes them one of the most secure currencies. The value keeps on inflating and deflating on several grounds. The current dip happened because of the political tension that grew between the most powerful countries.
So you bought the dip… did you really think the #cryptocrash was over? The dip of the dippity dip-dip dippitors is on the way ? pic.twitter.com/3dhc6UmTEK
— Emmanuel Motelin (@EmmanuelMotelin) February 20, 2022
This could be the most relatable meme you will see as an investor. Every dip gives hope of a rise, but today it seemed difficult to rise and shine. We all had those days.
#cryptocrash trading crypto explained in 15 seconds
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Nigeria pic.twitter.com/KgRZb7x7X7— Regular guy (@ezemabassey) February 20, 2022
As a crypto enthusiast, another #cryptocrash only goes to excite me pic.twitter.com/iDjPkb11Wu
— Rehmat Ali (@RehmatA45481165) February 19, 2022
https://twitter.com/arpit_apoorva/status/1495040027747033091?s=20&t=Zcb1fOSjPg6AVaVTfwxnSw
Bitcoin, being the largest and biggest cryptocurrency in the world, falls and rises to have the ability to affect every other cryptocurrency. For instance, Ethereum, the second-largest currency, was down about 4.1%, dipping below the $3,000 mark to hit $2,932 because of the bitcoin dip. Altcoins fell in tandem with the market leaders. Terra Luna was down 6.86% at $51.70, while polygon lost 4.62% to reach $1.71, according to CoinMarketCap.
Cryptocurrency is an unstable currency as it highly depends on a lot of situations including political, financial, and military bases. Many people have invested their every last money in crypto which makes them vulnerable to any change in the price. However, that is what makes the following meme funnier.
present situation every investor… #cryptocrash pic.twitter.com/qrWDht1SU2
— gamma-ray burst☢️ (@gammaray1204) February 20, 2022
https://twitter.com/tackrun/status/1495179650808561667?s=20&t=Zcb1fOSjPg6AVaVTfwxnSw
https://twitter.com/cryptobarbieBSC/status/1494819597232398344?s=20&t=Zcb1fOSjPg6AVaVTfwxnSw
WHAT EXPERTS HAVE TO SAY
It is hard to digest but many experts are expecting that the price will go down even more. Though Bitcoin and Ethereum have both had ups and downs short of their all-time highs since then, many experts still expect Bitcoin’s price to exceed $100,000 at some point as per the Times. According to experts under this critical situation, the future of cryptocurrency is sure to include plenty more volatility, and experts say that’s something long-term crypto investors will have to continue dealing with.
The dips are inevitable in any cryptocurrency. One can’t really save themselves from the backfall but one should not let a price drop influence your decision to buy crypto, don’t let a sudden price increase alter your long-term investment strategy.
