Bitcoin had a wild week, dropping as much as 40% from record highs, before climbing back a good bit by this afternoon.
In most markets, that kind of chaos would be nerve-shattering. But for Bitcoin investors and observers with even a few months of experience, it’s par for the course – and an opportunity to offer some some cutting Twitter commentary.
Here are a few of the funniest and most insightful responses to this week’s big dump.
The Memes
For those taking it all in stride, the big drop was best captured by gallows humor.
Bitcoiners on Dec 16, 2017 vs. Bitcoiners on Dec 22, 2017 pic.twitter.com/76oQPMmD5i
— Neeraj K. Agrawal (@NeerajKA) December 22, 2017
#Bitcoin bears be like pic.twitter.com/T4BOqsZPej
— WhalePanda (@WhalePanda) December 22, 2017
The Context
More substantively, commentators emphasized that the big correction still left Bitcoin in pretty good shape for the year.
BTC crashes to levels not seen in 2 weeks
— zerohedge (@zerohedge) December 22, 2017
https://twitter.com/robertreidmd/status/944208162630000641
Given that pattern, boosters weren’t shy about calling the price dip a buying opportunity.
Special #Christmas sale for #Bitcoin, this weekend only!
Hope it’s a bargain! 😋 pic.twitter.com/GfCwSMxuKw
— Bobby Lee – Ballet: World's EASIEST Cold Storage! (@bobbyclee) December 23, 2017
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The Ride
More than a few emphasized that for Bitcoin investors, a scary market tumble is a rite of passage.
For those new to crypto having bought your first BTC/ETH/LTC in the past 1-2 months. Congratulations, you've been baptized. Welcome.
Piece of advice during these HEALTHY #crypto corrections, stay calm. Don't over trade. Weak hands gives profit to strong hands. #BTFD Zoom out.
— AnotherLife (@0xPerko) December 22, 2017
Others – including rapper Waka Flocka Flame – pointed out that panic-selling is often based on limited understanding of what Bitcoin promises.
Only the real know #HODLSQUAD
— Waka Flocka Flame 🔥 (@WakaFlocka) December 22, 2017
https://twitter.com/BashCo_/status/944216290356551682
The Drama
In one of the strangest mini-dramas of the correction, CNBC’s Fast Money was accused of “shilling” for Bitcoin spinoff Bitcoin Cash when it touted an appearance by BCash promoter Roger Ver.
@rogerkver aka Bitcoin Jesus joins us tomorrow to discuss the biggest change to the crypto world since time was invented! Must see TV.. #BitcoinCash is here… deal with it!! pic.twitter.com/k9kO30nwKF
— CNBC's Fast Money (@CNBCFastMoney) December 20, 2017
https://t.co/ZsrxKfLG4V @CNBCFastMoney husband of cnbc director of partnerships is friends with roger ver and involved in his $BCH scam. @CNBC IS FAKE NEWS. Shilling Bitcoin Cash, scamming people out of their money by impersonating #Bitcoin.
— Joyrider50 (@joyrider50) December 20, 2017
Finally, one of Bitcoin’s most savvy analysts took a more philosophical stance on the never-ending wild ride.
This is a good time to step away from screens.
Decorate your Merkle Tree
Water your bloom filters
Celebrate Cryptmas with your family.It will all be waiting here next week.
Happy Everything!
— Andreas (aantonop Team) (@aantonop) December 22, 2017
