RE: Yahoo Finance and Investing.com Falsely Claim Bitcoin Is Down -56%
Not surprising at all but what makes it so laughable is just how bad their timing was as Bitcoin is looking great, even to the biggest naysayers
Yahoo Finance and Investing.com Falsely Claim Bitcoin Is Down -56%
Two well-known financial media outlets, Yahoo Finance and Investing.com, falsely claimed that Bitcoin is down -56%.
Clickbait is rampant in the financial press, and it’s especially true for reporting on cryptocurrencies. Oftentimes, such articles are written in an automated fashion by bots. This led to a recent story about Bitcoin, which was just an outright lie.
Two major financial sites reported Monday that Bitcoin is down -56%. Yahoo Finance ran with a headline that read “Bitcoin Plunges 56% in Rout.” Investing.com ran with a similar story on Bitcoin apparently trading at $5,991.80. Both stories have since been taken down.
The misinformation coming from these supposedly credible outlets is nothing short of shocking. How could such a story be written, let alone published? The reason is that they are often written by bots and made to generate ad revenue through clickbait titles. In this case, the clickbait title was not just a little wrong—it was a complete fabrication regarding the price of Bitcoin.