McDonald’s joins the BTC memewagon as the price of the coin started trading below $40,000 and investors on Twitter started sharing memes about working at fast-food chains so let’s read more in our latest Bitcoin news today.
Prominent crypto entrepreneurs and supporters that shared memes on Twitter about doing odd jobs amid the ongoing market crash were joined by McDonald’s as the brand infamously linked with temporary BTC market crashes. The BTC price started a downfall ever since breaching into an all-time high of $69,000 in November 2022. As BTC started trading below $40,000, crypto investors started joking that they will start working in fast-food restaurants.
El Salvador’s President Nayib Bukele embraced the meme culture and even uploaded a new profile picture that shows him at one of his speeches with a photoshopped McDonald’s branded cap and T-shirt. Joining in n the fun, McDonald’s acknowledged the current developments on crypto Twitter by following influential members of the community like Cardano founder Charles Hoskinson and Altcoin daily:
how are you doing people who run crypto twitter accounts
— McDonald's (@McDonalds) January 24, 2022
While Binance responded to the question with a picture of a crying face that it hiding behind a smiling mask, McDonald’s consoled the exchange with a “we are gonna make it.” despite the market condition, Bloomberg strategist Mike McGlone thinks that the possibility of a BTC comeback as investors recognize its value is striking. He stated:
“Cryptos are tops among the risky and speculative. If risk assets decline, it helps the Fed’s inflation fight. Becoming a global reserve asset, Bitcoin may be a primary beneficiary in that scenario.”
The analyst expects the trio, BTC, ETH, and USD stablecoins to maintain dominance in 2022.
— Binance (@binance) January 24, 2022
As recently reported, Bitcoin reentered a key price zone that signaled the start of an end of the bear phases. Charles Edwards who is the founder of crypto investment firm Capriole flagged the BTC network value to transaction ratiometric as it delivered a new oversold signal. Bitcoin’s price losses accelerated over the weekend with the market not being far off the retest of a seminal $30,000 mark before Monday’s Wall street open. For the on-chain analyst, there are a lot of reasons to believe the extent of losses seen is more of a market overreaction rather than a simple tase of things to come.
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