With Bitcoin dropping 10% over the past 24 hours and having suffered its worst correction since late January, buyers of the cryptocurrency are devastated to learn that they are only up a measly 10% had they bought on the 1st of this month.
“I was sitting really pretty yesterday afternoon with month-to-date gains of 20%,” said new bitcoin investor Jarred Roebling. “I was absolutely crushing that trade and now it’s back to ramen for me.”
These sentiments are being echoed by many other investors who saw their hard-fought gains sliced in half. “You’d think Tesla buying all that Bitcoin would guarantee the price to reach at least 100k by the end of February. I blame market manipulation,” said Sharron Clarke another new crypto buyer.
While no one knows for certain why the price has come down Peter Schiff took to Twitter to lambaste the cryptocurrency. “Just another reason why gold is and always will be the best store of value and the best currency,” said a clearly unhinged Schiff. “Gold would never drop that much in such a short period of time. It’s as reliable as it gets!”
As of this writing Gold is down 3% for the month of February and its returns have dwarfed that of Bitcoin in a truly laughable fashion.