#BitcoinCrash has been trending ever since China rolled out a regulation banning financial institutions from trading in cryptocurrency. Due to this, other currencies like Dogecoin (which has become increasingly popular in India), and Ehtereum also saw a plunge in their values.
Bitcoin dropped at an astounding rate of 30% in the past 24 hours, and reached a value of $30,000. It ended up recovering and reaching a point of $38,000, but still cost a massive dip to its holders. However, considering how volatile these cryptocurrencies are in the first place, this new development shouldn't come as a surprise.
Elon Musk also reacted to this and tweeted 'Diamond Hands' emojis, a way to signify that he will be holding his cryptocurrency and not selling.
Amidst this, Indians have found the perfect opportunity to meme this crisis and poke some fun at it. While most are still calling to "buy the dip," referring to buying crypto when it is at is lowest to reap its fruits in the profit, most are trolling crypto believers who invested their hard-earned money in a digital currency.