Top 10 Bitcoin Memes of 2020

By June 3, 2020Bitcoin Business
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The inseparable part of the Bitcoin community – the Bitcoin meme – is always ready to grab the attention and make fun out of the most dramatic situations.

As the Bitcoin meme or any crypto meme intends to bring a dose of fun regarding the daily life of crypto insiders, it also becomes much more than a simple element of humor. The viral images, published in the form of image macros, GIFs, or videos, turn into a basic form for expressing and sharing ideas, concepts, or critics.

And although the internet is flooded with various kinds of crypto jokes, here are the best Bitcoin memes that appeared within 2020 so far.

The Coronavirus outbreak brought panic to the global markets, which ended in a massive sell-offs on March 12. The day called Black Thursday became historic when in a few hours both traditional and cryptocurrency markets collapsed. The Bitcoin lost nearly half of its value and fell even to below $4.000 within 24 hours.

The panic, however, simultaneously spread across the global store counters, where toilet paper became the one of the most wanted commodities. The absurd situation became swiftly depicted in the Bitcoin meme, mocking the current status of Bitcoin’s purchasing power and its evolution.

Bitcoin HODLers have long been considered as the dedicated and optimistic persons no matter what. Even when the markets are crashing and Bitcoin is free-falling, the HODLers remain the ones, that are not selling their assets as their might rise again soon. And thus they are falling together.

May 2020 marked the historical year for Bitcoin, as the world’s dominant crypto asset went through its third-ever halving. The process then the Bitcoin’s block reward was cut in half to 6.25 BTC was the most anticipated event.

The halving that happens every four years has a huge impact on Bitcoin’s price, as historically the price tends to increase in the longer term after the halving. The third Bitcoin halving occurred when the number of blocks hit 630.000, lasted for 10 minutes and passed. But in any case, it created a lot of hype across the crypto community.

During the last year alone, the cryptocurrency industry has seen a lot of changes. And although more and more countries and institutions are turning towards cryptocurrencies, the digital assets still have to deal with a lot of restrictions worldwide.

The ambitious Facebook Libra project, that aimed to change the world’s financial system and to introduce the world’s single stablecoin has met strong governmental resistance and changed dramatically within a year.

Furthermore, the central banks across the world are tending to create their national digital currencies to compete with Bitcoin and other virtual coins. However, the Bitcoin meme community still mocks their attempts to suppress the decentralized cryptocurrencies.

In anticipation of Bitcoin halving in May 2020, the lots of crypto users were strongly determined to hold their Bitcoins. This is what most of them do, they HODL no matter what, driven by the blind faith that the Bitcoin’s price will rise further. Be it the crypto winter or the market crash, HODLers keep calm and hold their Bitcoins further.

The memes first broke the internet back in 2018 when the crypto winter has entered and Bitcoin’s price fell from the heights of 2017. However, back in 2020, just after the mid-March market crash, they became relevant again as Bitcoin lost nearly half of its value and brought hard times for its holders once more.

The Hodlor meme depicts Bitcoin HODLer as Hodor, the loyal servant character from the famous “Game of Thrones” series, who keeps resisting the surge of bad news.

Although Bitcoin is often called digital gold and safe-haven, trading it might still be a stressful experience. When the markets go down, dealing with volatility becomes a challenge, that has its own price.

Although some memes are not directly tied with Bitcoin, they have echoed across the Bitcoin community. Such an example is the famous “Money printer goes Brrr” meme which became viral after the Federal Reserve of the United States printed $2.3 trillion as a financial measure to help the economy recover after the COVID-19 outbreak.

The series of Wojak images appeared on the internet, depicting the capitalist pleading the Federal Reserve not to “artificially inflate the economy by creating money to fight an economic downturn” and the Federal Reserve responding like “Money printer go Brrr”.

The meme further evolved to the image of pink Wojak representing the central banker rapidly printing endless amounts of cash to save the economy. It also received support from the crypto community, which perceived money printing as proof that the traditional financial system went out of control. Some users even called the meme as the one that defines 2020 the best.

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