Over the weekend, Bitcoin's price hit a two month low, dipping to $6,647.33. This ten percent decline is the lowest value for the world's most recognizable cryptocurrency in two months. Back in December, during its all-time peak, Bitcoin was valued at $19,500, which effectively left market watchers on edge.
A bevy of factors may have contributed to Bitcoin's most recent loss, including the hack of the South Korean cryptocurrency exchange Coinrail, pre-week selling, as well as an increasingly strict crackdown on market manipulation.
Investor Alistair Milne ran a Twitter poll which saw its participants vote on the likely catalyst for slump, with roughly 3,700 voters believed to be the work of aliens.
https://twitter.com/_/status/1005784700177276929
Another Twitter used a particularly telling graphic that showcases a widespread decline in value throughout the cryptocurrency market, asking his followers "how is everyone's Sunday going?"
https://twitter.com/_/status/1005878555664887810
Some eager Twitter profiles found an opportunity to present this negative news in a more humorous manner, using popular gifs that encapsulate many cryptocurrency investors' mixed emotions about declining rates.
https://twitter.com/_/status/1006196211009933313
However, some believe that Bitcoin and other forms of digital currencies will be able to bounce back from these troubling times, locating fruitful sprawls amid a murky abyss.
https://twitter.com/_/status/1005928373514891265
