Bitcoin (BTC), which has fallen below 40,000, has wiped out nearly $50 billion of the crypto market cap. Even though there is no particular news to blame, Crypto Twitter will not let the dump go without responding in its own unique colorful ways.
Lark Davis, a crypto-figure with nearly a million followers on Twitter, asked his audience “Are you buying any things on this dip?” Or are you waiting for clarity if the price goes lower or higher?” User french B happily said that he is too broke at the moment to buy anything.
I have been buying the dip for 6 months. Now I’m broke
— French B (@frenchB13852573) January 21, 20,22
Frank Sirianni III responded, saying that he had already accepted the trend of BTC prices falling whenever he purchases. “I have accepted that the price of Bitcoin will drop after I purchase it. “I’m at peace now,” said the Twitter user.
Users Sir Doge of Crypto Twitter and Ananthu shared their feelings through images and a GIF of classic memes.
It’s a love/hate relationship#Bitcoin #BTC pic.twitter.com/hfF8EskEnj
— Sir Doge the Coin (@dogeofficialceo January 21, 2022
Peter Shiff, the gold bull and his followers were not afraid to speak out against Bitcoin. They predicted that a crash below $10,000 was highly probable.
#Bitcoin has finally broke the neckline for a head-and shoulders top. The bad news for long-term investors is that the pattern projects a drop below $30,000. The scary part for longs is that the pattern projects a move below $30,000. Bitcoin will then have completed a huge double top. A crash below $10,000 is very likely.
— Peter Schiff (@PeterSchiff), January 21, 2022
Manuel Campbell, a Twitter user, supported Shiff’s FUD and tweeted that he believed Shiff was still too optimistic with his prediction.
Bitcoiners called Shiff out, pointing out that his predictions were not accurate. Shiff was retorted by Max on Twitter, who said “You are wrong every single time!” and cited Shiff’s tweet from two years ago.
Microstrategy CEO Michael Saylor did not miss the chance to share some of his wisdom with BTC investors.
A short time horizon for investing in #bitcoin is 4 years. Mid-term horizons are ten years. The right time horizon, however, is #forever. https://t.co/rRMz0yCkpN
Michael Saylor (@saylor), January 20, 2022
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Everyone reacted differently to the dump. However, Will Clemente, a Crypto Twitter user, is not fazed. Clemente tweeted: “Just drove for 2 hrs. Check my phone and BTC sub 40K — Okay, cool.”