The social media has been flooded with posts regarding cryptocurrencies as the unprecedented slump occurred just a month after a dramatic rise in the value of cryptocurrencies.
The extremely bearish market has triggered panic as people have embarked on sickening selloffs. Those who had invested all their savings in crypto trade have started reeling in shock over the market crash.
Two main factors are being seen behind the crisis: number one is Tesla Chief Executive Officer Elon Musk’s ‘playing’ with the emotions of Bitcoiners and number two is the statement of the People’s Bank of China that it would not accept digital tokens as a form of payment.
Experts and veterans say that this is not the first time that the cyrpto market has crashed as it happened in 2013 and in the end of 2017 as well.
Here’s how Pakistani Twitterites are reacting over the crypto crash: