Veteran Investors – and Waka Flocka Flame – Memed and Held Tight Through the Big Bitcoin Drop
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.
The Context
More substantively, commentators emphasized that the big correction still left Bitcoin in pretty good shape for the year.
Given that pattern, boosters weren’t shy about calling the price dip a buying opportunity.
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The Ride
More than a few emphasized that for Bitcoin investors, a scary market tumble is a rite of passage.
Others – including rapper Waka Flocka Flame – pointed out that panic-selling is often based on limited understanding of what Bitcoin promises.
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.
Finally, one of Bitcoin’s most savvy analysts took a more philosophical stance on the never-ending wild ride.
