Bitcoin has repeatedly become the subject of jokes
Investors have found many reasons to laugh in 2020
The outgoing year was remembered by members of the crypto community for their memes
International consortium of news organizations developing transparency standards.
Bitcoin goes to zero 2017 – 2020 (meme)
The coronavirus 2020 will be remembered for a long time by the participants in the digital asset market. During these 12 months, many things have happened in the crypto industry, both good and bad. At the same time, no matter how hazy the prospects were, investors always found time to laugh at the current situation..
The BeInCrypto editorial team decided to look back, collecting the main topics and events of 2020 in the form of memes in one material.
The financial market crash in the spring of 2020
In March 2020, amid the first wave of the coronavirus pandemic, the stock market, followed by cryptocurrency rates, went into decline. The negative dynamics of traditional and new financial assets has become a cause for controversy. Some market participants argued that in difficult times it is necessary to buy precious metals, others that the future belongs to bitcoin (BTC).
Due to the fact that cryptocurrencies suffered less than other assets, many investors preferred them to a more traditional reserve asset – gold..
“Reserve assets, bitcoin, gold”.
In May 2020, a halving occurred on the bitcoin network, and the reward for mining the coin was halved. The event generated numerous forecasts for the further movement of the cryptocurrency rate. Also halving Bitcoin halving cuts the number of new coins created and earned by miners in half. This happens about every four years and … More are not spared by the authors of the memes.
To explain how the decline in the reward for mining BTC affects the value of the cryptocurrency, one of the investors created a collage using a shot of basketball player Shaquille O’Neill and his girlfriend..
“Demand for Bitcoin. Decrease in the volume of bitcoin production in 2016. Decrease in the volume of production of bitcoin in 2020 “.
The first wave of coronavirus fueled investor interest in cryptocurrencies. Market participants were looking for where to invest during the crisis, and crypto projects were quick to offer them options. Many startups have tried to pull the blanket over themselves, offering their coin as a “lifeline” in the current difficult financial situation.
“Bitcoin, me, shitcoins (low quality cryptocurrencies)”.
Capitulation of traditional money
Many country regulators have opted for quantitative easing policies to deal with the effects of the crisis. It involves printing with the injection of new lots of money into the subsequent economy. This approach can lead to currency depreciation and a decrease in the value of shares of companies that have chosen fiat as a reserve asset..
Unlike traditional money, whose emission is controlled by regulators, the maximum amount of bitcoins is known in advance. Therefore, BTC attracted the attention of many investors..
Wall Street, stocks, cryptocurrency.
In 2020, many projects from the decentralized finance sector appeared on the digital asset market (DeFiDecentralized finance (DeFi) is a financial services built on the basis of blockchain technology that offer users access to an open, efficient and … More). Some of them, for various reasons, died suddenly.
Many DeFi protocols have been remembered by investors for their high returns. The success of a number of projects has inspired some market participants to buy assets in the decentralized finance sector. Unfortunately, not everyone was lucky: some projects got bored, others died because of hackers, others simply turned out to be unclaimed, and the rate of their coins did not take off.
“When I try to pretend to be a cool DeFi investor. I am the same when I look at the losses that investments brought me. “.
Read also: What’s wrong with DeFi? – Review of the opinions of critics
Ethereum transition to protocol version 2.0
Another popular topic of jokes in 2020 was the transition of the second largest cryptocurrency – Ethereum (ETH) – to the new protocol 2.0. Many investors noted that the fresh version of the coin, against the background of bitcoin, looks like an incredibly complex, meaningless construction.
Read also: What will happen to Ethereum in 2021 – investor opinions
Institutional investment in cryptocurrency
Many investors will remember 2020 with the arrival of large organizations on the digital asset market. For example, the analytical company Microstrategy has invested in cryptocurrency. Crypto community members suggested that other major players could follow her example.
“Large corporations, crypto community on Twitter.
Come on dude you can!
Bitcoin: Expert Interviews On Cryptocurrency Topics | Cryptos | Crypto Currency News | Crypto News
Bitcoin high update
In December 2020, 3 years after the Bitcoin exchange rate set an absolute maximum near the $ 20 thousand level, the coin updated the record. The event sparked a surge of interest in the digital asset market from investors. Crypto community members suggested that 2021 will be extremely interesting for newcomers who are taking their first steps in the crypto industry..
“An investor who bought bitcoin in 2013.
Investor who bought bitcoin in 2017.
A new investor in 2021 “.
Growth in the number of HODL’ers
The positive dynamics of the cryptocurrency market in 2020, against the background of not the best results of the movement of traditional assets, accelerated the growth of the army of crypto-HODL’ers (investors who buy coins in order to keep them in the account for a long time). The preponderance in favor of the members of the crypto community also did not go unnoticed.
“Poor people. Rich people. HODL’ers “.
At the end of the year, members of the crypto community received another hot topic for discussion – the clarification of the relationship between the popular startup Ripple and the US Securities and Exchange Commission (SEC). Amid the scandal around the project, many digital asset exchanges delisted its token – XRP.
Such changes could not but rejoice the members of the crypto community, who criticized Ripple for a long time due to the high level of centralization and other problems. Not without memes.
XRP, Bitcoin Investors.
We will remind, earlier experts shared with the editors of BeInCrypto their opinion on which cryptocurrencies deserve attention in 2021.
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