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SocialMediaTrends: ‘Everywhere red’ — Nigerian Crypto traders decry Bitcoin plunge
The fall of one of the world’s best-known cryptocurrencies, the Bitcoin, on Wednesday, sent shockwaves throughout the financial world, Nigerian investors inclusive.
Over the past 24 hours, Bitcoin nosedived to $30,201.96 while Ethereum and Dogecoin experienced as much as 30% plunge to $2,385 and $0.338528 respectively.
The decline in prices of cryptocurrencies is believed to have been sparked by business magnate and CEO Tesla motors, Elon Musk’s reversal on Tesla accepting Bitcoin as medium of payment.
Also, China’s recent ban on financial institutions and payment companies from providing cryptocurrency related transactions exacerbated selling.
Although, some Nigerian crypto traders believe the volatility of the market should be utilized to “buy the dip” (more crypto), others have taken to social media to express their frustration in a rather dramatic way with the phrase “everywhere red”.
Read Also: SocialMediaTrends: Abidemi Rufai’s arrest by FBI, el-Rufai’s ‘abuse of power’ in Kaduna & more
See reactions below:
Today be like Valentine’s Day, everywhere red
— Samuel Mbah (@Mbahdeyforyou) May 19, 2021
Me collect my remaining #240 after investing 50k in Crypto #Binance #Bitcoin #buythedip pic.twitter.com/XUsaUYbNNH
— Mr. Reezy Sama 😳 (@armadillo_reezy) May 19, 2021
I just checked my binance balance and all I can say is you guys should pray for me 😔😭😭💔💔 #Binance #BNB #Bitcoin pic.twitter.com/3a0NoD2SlD
— 𝔸𝕟𝕤𝕝𝕖𝕞_𝕣𝕚𝕔𝕙𝕚𝕖 ✞ (@Anslem____baby) May 19, 2021
Me in 2022 when someone is telling me to invest on #Bitcoin #cryptocurrency #Crypto #buythedip #Binance Elon musk pic.twitter.com/IrhvNJV2eq
— they guy with vibes (@RitzyRoyce) May 19, 2021
#Bitcoin #Binance #Crypto
Speed darlington warned us😭😭😭 pic.twitter.com/VGDctGvG6C— Ceejay ❤️ (@Aniebovincent) May 19, 2021
How I walk confidently knowing that bitcoin will still rise.
#Crypto #Bitcoin #HODL pic.twitter.com/TIKe6ZgNBy
— Love and Money ⭐🌟💰 (@Talented143) May 19, 2021
Ponzi Schemes are the only recession-proof business in Nigeria.
Discuss.
— tolu ogunlesi (@toluogunlesi) May 19, 2021
Let's be honest, Crypto is basically equivalent to ponzi, definitely not the same, but if people don't invest, the system crashes, just like If people don't get referred to a ponzi scheme, it crashes.
So yeah, Crypto traders would say *BUY THE DIP* so the system resurrects.
— Fredii 🔴⚪️🇳🇬 (@Udfredii) May 19, 2021
https://twitter.com/callmepaschal/status/1395059531730890756?s=08
Buy the dip buy the dip I don turn deeper life member like this 😁#buythedip #bitcoin
— TACHA🔱🇳🇬🇬🇭 (@Symply_Tacha) May 19, 2021
Everywhere don red, money don finish
Come and employ me abeg🤲🏾😭
I do Mobile, Backend, Fullstack and anything with Azure
DM for my resume 🙏🏾— Israel Ulelu | #EndSARS (@IzyPro_) May 19, 2021
…By Okiemute Abraham
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