Crypto crash: Memes on the rise as bitcoin tumbles

Bitcoin tumbled to an 18-month low on Monday, sparking memes online. (Image credit: scannergr1/Twitter)

Bitcoin tumbled to an 18-month low under $23,000 on Monday in a broad cryptocurrency crash. The bitcoin crash came as investors shunned risky assets in the face of a vicious global markets selloff, news agency AFP reported. The world's most popular crypto asset also took a heavy knock from news that crypto lending platform Celsius Network paused withdrawals, citing volatile conditions.

Bitcoin has now tanked by 66 percent since striking a record peak $68,991.85 last November. The cryptocurrency’s decline has led to several jokes and memes on social media. Investors were primarily the subject of these sly digs on social media, but some also tried to find solace in humour as the crypto market continued its freefall that began weeks earlier.

Take a look at some of the funniest memes on the bitcoin crash:

Your choice #cryptocrash #BitcoinCrash pic.twitter.com/VbTJLaoaFU

— Crypto_Dave (@Patzer_Busayo) June 13, 2022

To the moon #BitcoinCrash pic.twitter.com/hAoAujC4UO

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— Benifty (@Benifty212) June 12, 2022

Crypto at free fall. Buy or Bye ?#Cryptocrash #CryptoMarket #BitcoinCrash pic.twitter.com/Ct5wBSxaOP

— Antonis S (@scannergr1) June 13, 2022

#BitcoinCrash has been an absolute bloodbath. pic.twitter.com/htutlq2JwX

— Snax - The news. In memes. (@SnaxNews) June 14, 2022

Am I alone??...Is there anyone here like me?? #BitcoinCrash #Cryptocrash #CryptoMarket pic.twitter.com/onh5B5l6yu

— Johnny Quid (@911MENON) June 14, 2022

Truer than true. #Bitcoin pic.twitter.com/G7L1Fhl2zc

— Mitch Bitcoinopoulos (@MitchKoulouris) June 11, 2022

The global crypto market is now worth less than $1.0 trillion, data aggregator CoinGecko revealed Monday, as per AFP.

That is down from a level of more than $3 trillion at its peak seven months ago, when the market rode a wave of massive investor demand amid growing acceptance from large financial institutions.

(With inputs from AFP)