As Crypto Market Plunges, Bitcoin, Dogecoin Bulls Preach 'Keep Calm And Hodl'

The global cryptocurrency market valuation plunged 9.93% in the early hours of Tuesday to $1.5 trillion with leading coins trading in the red. Here is what some Bitcoin (BTC) and Dogecoin (DOGE) bulls had to say on Twitter amid the plunge.

Fun In The Funeral: Cryptocurrency commentator and full-time day trader Michaël van de Poppe noted that the current sentiment is getting “back to the funeral state.”

The sentiment is getting back to the funeral state.

Lovely!

Let's see how this sentiment is going to be in a month from now.
— Michaël van de Poppe (@CryptoMichNL) June 7, 2021

Van de Poppe’s comments came as BTC plunged 10.12% to $32,532.01 over 24-hours leading up to press time. ETH traded 11% lower at $2,462.57 in the same time frame.

The analyst said separately on Twitter that the news that El Salvador and Paraguay are either considering or adopting BTC as legal tender will have a “way heavier impact than” Tesla Inc TSLA CEO Elon Musk’s tweets.

Keep Calm And Hodl: Dogecoin co-creator Billy Markus pointed to the boxing match between legendary boxer Floyd Mayweather and YouTube personality Logan Paul and posted a meme.

pic.twitter.com/RvRNZXspCM
— Shibetoshi Nakamoto (@BillyM2k) June 7, 2021

In a response to a post on Twitter, Markus took a dig at the match, which ended without a winner after eight rounds.

I, too, would hug someone in-between a few light punches for millions of dollars
— Shibetoshi Nakamoto (@BillyM2k) June 7, 2021

DOGE wasn’t spared in the market meltdown either as it plunged 14.31% at press time falling to $0.32.

I’ll Take Some BTC: David Gokhshtein, founder of Gokhshtein Media made a number of observations on Twitter amid the ongoing bloodbath. He said on Twitter that “Most of the ‘[Cryptocurreny] educators’ have disappeared.” — adding, “They be (sic) back when the bull runs again.”

“Focus on your own goals and hold yourself accountable,” tweeted Gokhshtein.

The cryptocurrency bull also seemed eager to buy more as prices fell.

I’ll take #Bitcoin under $30,000
— David Gokhshtein (@davidgokhshtein) June 8, 2021

Dip #Bitcoin.

I’ll take some for cheap.
— David Gokhshtein (@davidgokhshtein) June 8, 2021

Crisis? What Crisis? Cryptocurrency contributor at Forbes and former regulatory counsel for Coinbase Global Inc COIN Hailey Lennon took a dig at a Bloomberg report that claimed Bitcoin enthusiasts are “in the middle of an existential crisis.”

No, no we aren't lol https://t.co/VnbPEJhIqu
— Hailey Lennon (@HaileyLennonBTC) June 8, 2021

Lennon also said she bought some more of the apex cryptocurrency to celebrate the Bitcoin 2021 conference held at Miami between June 4 and June 6.

Just bought some more bitcoin to celebrate this epic week in Miami

$32k bitcoin is a DEAL
— Hailey Lennon (@HaileyLennonBTC) June 8, 2021

A Better Strategy: Binance CEO Changpeng Zhao said not to “let short term emotions take over you” on Twitter, which he said was not financial advice.

“Look at long term technology trends. #crypto will be everywhere in due time,” wrote Zhao on Twitter.

Zhao said holding, or a buy and hold policy, is a “better strategy” for most people.

Unpopular opinion for myself: you don't have to trade/capture/sell every dip. Although not so good for exchange revenues, hodl is a usually a better strategy for most people.

NFA.
— CZ Binance (@cz_binance) June 8, 2021

Zhao also reminded his Twitter following that a year ago BTC traded at $9,790.

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