Bitcoin Is Down 50%, Here’s Why Everyone’s Pulling Out Of Crypto
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Since its peak of $126,000, Bitcoin has fallen 50% (half) due to numerous factors but mainly because the whole world is a little fucked right now.
Once again for the people in the back row, Bitcoin and other cryptos are a highly volatile asset meaning that people are less likely to invest during ties of uncertainty. Gold is the opposite and the two thus become rule-of-thumb barometers for how people think the economy is going.
And who exactly are those ‘people’ you may ask? Well often it’s the money people looking to make more money. In this case it’s hedge fund managers, who initially poured in a lot of cash in Bitcoin and boosted the crypto to its ATH, but are now pulling out (heheh).
I mean, that’s pretty much the news. It’s not really news is it? BREAKING: Asset Goes Up In Value. Like, yeah, and it’ll probably go down in a bit too. That’s the problem with reactive finance news, the news alone isn’t very insightful, like the pure, ‘this thing just went up/down’ isn’t game changing.
I guess it’s the analysis behind it that makes the story worth reading and I’m sorry I can’t offer that but what did you really expect from Wall Street Memes Dot Com? If you thought you were getting something valuable here, that’s on you.
Heck, you realise this is just a way of keeping content churning out for what is literally just an advert for an online casino? And we only exist because we’re trying to make money too. We don’t really care about any of this or making your life better.
In fact, we’re probably making your life worse but we’re making money and so long as we do we will continue to exist.
And I’ll keep getting paid to write this garbage…
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