Crypto Community Reacts with Humor: Memes Emerge as Bitcoin Hits Record High
Summary:
This article gives a light-hearted look at how the Bitcoin community has responded to the cryptocurrency's record high of $70,199 on March 8, 2024, using humour and memes. Various memes, such as those integrating the sci-fi movie 'Dune', criticisms of Bitcoin's "insufficiently high" price record, and the timing of buying Bitcoin, are discussed. The article emphasizes that these humorous responses serve not only to amuse but also to reflect on Bitcoin's value, the dynamics of the financial market, and the patience of Bitcoin investors through fluctuating times.
Since its establishment in 2009, Bitcoin (BTC) has inspired a myriad of memes, evoking laughter about its unpredictable fluctuations and various associated incidents. On the 8th of March, 2024, Bitcoin reached a new peak of $70,199, breaking its previous high of $69,000 set on the 5th of March, 2024. The crypto community artists and meme creators have not missed this opportunity to express humor, leading to increased engagement on social media. Cointelegraph has curated some of these Bitcoin peak memes for your amusement this weekend.
A meme blending Dune and Bitcoin has garnered extensive traction online, well-received by the community around the time Denis Villeneuve's epic sci-fi film Dune: Part Two premiered in the United States early March. The meme cleverly aligns Dune's timeline with Bitcoin's historic peaks, apparently originally crafted by Troy Osin, co-founder of Zurp. The comedy leans into the coincidental alignment and familiar meme narratives, drawing references from the actual Dune novel by Frank Herbert. The novel's fictional substance, melange, mirrors Bitcoin in its decentralized nature and supply cap of 21 million coins. Thus, the meme creators might suggest similarities between the scarcity, value, and power correlations in Dune's fantasy universe and the actual world phenomenon of Bitcoin.
Lina Seiche's Bitcoin peak art piece, titled "Same same, but different," is more an artistic interpretation than a meme. It highlights the marginal price difference between the latest and the previous Bitcoin peak set two years prior. While cynics may critique the minimal price increase or perceived sameness with the former peak, Seiche's art underlines the different circumstances this time. The current Bitcoin peak comes in the wake of significant industry events including the successful roll-out of spot Bitcoin ETFs in the United States, adoption by nations like El Salvador, and growing Wall Street acceptance. In contrast, the previous peak in November was amidst heavy reliance on platforms that subsequently fell due to alleged fraud, including the FTX crashes, the Terra ecosystem breakdown, and a substantial crypto lending calamity.
Bitcoin's new peak has stimulated humorous conversations on social media and even someone's ex's DMs. For further laughs, it is best to dive into Reddit. Those who purchased Bitcoin at $65,000 in 2021 have found hope, as Bitcoin rides a wave to levels unseen over the past two years. After reaching $69,000 in November 2021, the currency hit a low of less than $17,000 by the end of 2022, and then hovered around $20,000 for an extended period before soaring to new highs. Predictions about Bitcoin's next bull run are uncertain, and it remains debatable whether it's right for early investors to sell at these prices.
A particular meme satirizing Bitcoin skeptics, who tend to avoid Bitcoin due to their perception of it as a scam, has been circulating online. Critics must feel vindicated having "discovered" Bitcoin was a “flawed” concept as far back in 2011 when it was worth merely $3. The latest Bitcoin surge has rekindled old debate over the ideal time to buy Bitcoin - often characterized by regret when Bitcoin peaks and recall resets when it dips. Another meme responds to the question of how much Bitcoin should drop for non-owners to mock hodlers: memes propose just $2,000. To end with laughter, check out a John Cena Bitcoin meme by Cointelegraph's social media expert, Sohail Shaikh. "The meme celebrates the patience of hodlers during the ATH," Shaikh explains. Remember to keep your spirits high even amidst the financial ebb and flow!
Published At
3/8/2024 7:05:56 PM
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