On Tuesday, a sell-off in Bitcoin accelerated, and pushed it below $30,000 for the first time in about a month as fears of the dangerous Delta variant of coronavirus gripped global stocks.
The widespread sell-off led to a drop of $98 billion in the value of the entire cryptocurrency market. The cryptocurrency was trading at $29703.43 as of 2:23 PM GMT on Tuesday.
Not only bitcoin, but other virtual currencies faced a similar trend including the second-ranked Ether. Ether fell 7% to $1,761, cardano fell 9% to $1.07, XRP fell 9% to 53 cents, and dogecoin fell 7% to 16 cents, as per data by CoinMarketCap.
The drop has caused a lot of furore across the globe and many have taken to social media to rant about it. On Twitter, #cryptocrash has been trending non-stop with more than 2000 tweets as of Tuesdy afternoon.
Not only anxious tweets, but memes about the drop are also trending on Twitter. After all, Twitterati are known for making memes to make fellow netizens feel better during a crisis.
Here’s how people are reacting to the drop. Have a look.