Welcome to the ride!
So, the price of bitcoin is going down. Once again. That’s a little unusual, isn’t it? (Play the world’s tiniest violin.)
If you’ve ever thought, “Hey, maybe I should put three paychecks and my Netflix password into Bitcoin and retire by 30,” you’re living the same fever dream that millions of us sold ourselves a few years ago. We’re refreshing Coinbase like it’s a horrible relationship: “Please text back, please text back.”
We shouldn’t put the blame on the Kardashians, astrology, or even Mercury going backwards. Instead, let’s look at why cryptocurrencies keep acting like the Titanic: it’s dramatic, it takes a long time, and it leaves us all holding on to metaphorical doors.
1. “It’s not a crash; it’s only temporary,” every guy said.
You know what I mean. That guy at Starbucks who drinks his oat milk latte like Warren Buffett with Wi-Fi and says that crypto is just “correcting itself.”
If your $300 turned into $30, that’s not “fixing.” Your money is going away faster than your Hinge date.
That’s when the decrease really happens: when my iPhone battery drops to 1%. Investors become worried faster than I do.
Governments learned that monopoly money isn’t good when there are no rules. Thanks, Uncle Sam.
There are people who try to trick you. There are “crypto gurus” on TikTok who say they can triple your money, and your cousin Dave is texting you, “Bro, get in on this new coin.” Spoiler: Dave is also broke.
But go ahead and call it a “temporary correction,” champ.
2. People are suddenly destitute after Elon Musk tweeted.
If your life savings depend on whether Elon Musk tweets a dog meme, you probably have made some awful choices in life.
Do you remember when Dogecoin went crazy? Yes, half of us signed up because Musk said “To the moon!” and the other half didn’t want to miss out. What do we do now? Back to Earth. With a few hiccups along the way.
To be honest, memes make more money than economists do. Gen Z makes stock market judgments based on what’s popular on TikTok, and a tweet about a Shiba Inu is more powerful than the Federal Reserve. Welcome to the year 2025 in capitalism.
3. That strange phenomenon that happens when prices go up, the economy goes down, and reality hits home
People don’t like to acknowledge it, but Bitcoin wasn’t developed to “fix the economy.” It was meant to stay away from it.
But you know what? No one is purchasing Ethereum when eggs are $10 at Target. They’re buying eggs instead.
You can’t pay your rent with bitcoin unless he also offers you weed. Starbucks around you doesn’t care that you spent $200 on Solana.
If you give someone your crypto wallet address at Chipotle, it doesn’t mean you want a burrito.
When things go crazy, the value of cryptocurrencies drops along with everything else. Spoiler alert: It’s not floating above reality; it’s stuck to it.
4. Scammers, hackers, and “Oops, I Lost Billions”
Every week, someone “hacks” an exchange. It always sounds like, “The dog ate my homework, but it was worth two billion dollars.”
FTX, Celsius, and BlockFi have all burned down faster than fireworks on the Fourth of July. We still sign back in and ask, “What about this one?” Definitely safe.
It feels like a bad date. You know you can’t believe them. But you think, “This time they might not steal my PS5 and my car.” Heads up: they will absolutely do it.
And don’t forget about the clown show with the NFTs. Do you recall that? People are paying Lamborghini prices for monkeys that look like pixels? That became old faster than milk in the sun.
5. Sorry, but it was always a bubble.
I said it because it needed to be spoken. There was a lot going on, as in a trailer for a Marvel movie. “Decentralized finance will make the world a better place!”
Fidget spinners were also popular for about six months. At some time, you learn that not everything that sparkles will last. Bubbles pop. Every time. It’s not a pretty soap bubble; it’s more like your landlord texting you to pay your rent while you’re already overdrawn.
Some things that people didn’t understand:
- Just because something is hyped up doesn’t mean it has value.
- When the economy is bad, money based on feelings and the idea that “you only live once” doesn’t work.
- There is no one in the world who needs 13,482 dog-themed tokens.
Wrapping it up
Yes, the price of bitcoin is going down. Not because Mars is traveling in the wrong direction. Not because “boomers don’t understand.” But that’s how hype bubbles work.
That’s all there is to it; you made it through.
If you’ve made it this far, I have good and bad news for you. You now know for sure why the price of cryptocurrency is going down.
Bad news: you still can’t afford to eat breakfast at a restaurant. But now you can tell your friend Chad why “blockchain innovation” is important instead of just nodding and sobbing when he tries to explain it over White Claws.
And who knows? Cryptocurrency could go up again. Or maybe people will remember it with Beanie Babies, LaserDiscs, and the time when Americans thought Crocs were cool. Don’t quit your job, no matter what.
