Spreading fear and uncertainty: Why you shouldn't get your cryptocurrency news from your local newspaper.
I noticed an unusual article in the newspaper today.
"Bitcoin slide continues"
A headline like that is certainly catchy.
It goes on to talk about how Bitcoin isn't doing so well lately.
The article says that Bitcoin failed to reverse a sell off.
Oh no!
It talks about more end-of-the-year weakness for Bitcoin.
End-of-the-year weakness!
Bitcoin is falling! Look Out Below!
The article then says that Bitcoin is having its worst four day tumble since 2015.
Holy crap everybody! Sell all of your Bitcoin!
I love this part here.
Sell off may be sign that investors are cashing out.
As I write this Bitcoin is priced at $15,570.
I actually bought some Bitcoin a few days ago when it was priced at around $16,780.
The truth is that it had fallen down to $14,480 when I purchased it on Coinbase, however, the transaction said I got it at $16,780.
That's because Coinbase is a bit on the unreliable side...... but what are you going to do? Nothing.
It'll go back up.
The strange thing is that this newspaper article claims that Bitcoin is on it's worst decline since 2015...... yet it's only undergoing a slight correction here.
Sometimes when I talk to my friends at work or my roommates they will tell me....
"Hey..... too bad about Bitcoin"
When I ask "What happened to Bitcoin?" they say "The newspaper says it's dead bro"..... or something like that.
I have to ask myself if the people writing these newspaper articles really believe the crap that they're saying?
Do they really think Bitcoin is going to fail? Do they just not understand normal and healthy Market Corrections?
Is it possible that something more sinister is going on?
Source: Giphy.com
Are whales controlling the newspaper and putting out FUD in order to try to get the price of Bitcoin to fall so they can buy in cheaper?
That seems inconceivable but I wouldn't put anything past anyone these days.
Markets rise and markets fall but anyone in the cryptocurrency world knows...... you gotta know when to HODL em.
Just the other day I was in one of the forums I browse and a newer member said "Holy smokes! I just bought into cryptocurrency a few days ago and I'm already down 25%!"
Of course the general response was "LOL noob."
Anyone who gets out of Bitcoin because it falls for a few days has no idea how the cryptocurrency world works.
So why does the newspaper want to constantly talk about Bitcoin failing?
The government doesn't want you to have Bitcoin.
The banks don't want you to have Bitcoin.
They want you to believe that Bitcoin, and cryptocurrency in general, is a fad and that you are making a mistake throwing your money away.
You can still find people all over the internet who say stuff like "Bitcoin isn't worth anything....... you'll see."
They just can't wait to show you that they were right.
Don't trust your local newspaper and don't trust some random guy on the internet.
Bitcoin may not live forever.....
For all we know Bitcoin Cash or some other coin may completely take Bitcoin over at some point in the future.
If that happens it's still going to be all about cryptocurrency.
Despite what the newspaper may tell you, cryptocurrency isn't going anywhere.
Couldn't agree more. Article like this are always filled with words like "may", "possibly", "could", "predict", etc. It's all a guess. This is why I'm glad I can write whatever I want and I don't have to meet a deadline.
That picture of a headline heading Bitcoin in a newspaper is ace! Pretty sure people would never have thought "real" publications would talk about Bitcoin.
You're 100% correct crypto is here to stay. The regular media has almost zero understanding. It's almost a shame for people who only get their info from the mainstream media, they don't have a chance of any deeper knowledge.
Haha totally agree with you !! Cryptocurrency is the future !
Oh this kind of news in the paper and online news sources! I swear there are even articles featuring what bank people think about it making it look like cryptocurrency is a scam in itself. It expands the stigma going around cryptocurrency. You don't see these mainstream sources writing about "things you have to know about cryptocurrency". They all just write about negative things, it sucks. People are just getting more and more improperly educated.
No one knows for sure what the future holds. But I have seen the same stories you wrote about and I am not worried at all!
Of course investors are cashing out. Bitcoin is an asset with high volatility and that is why investors are here! Investors know one rule - buy low and sell high.
If there is no volatility there no low and high, things stay pretty steady. The stock market has had a very low volatility lately. I know because I bought a volatility index fund right before the election and after a little pump its been all dump.
The stock market is not exciting anymore, it doesn't give the same lows and highs as Bitcoin and its fellow coins. Investors know this. Investors love this. They will keep coming to this! That's my opinion on that. :)
Well investing is a fun game. Cryptocurrency investing is especially fun...... and I do believe there will always be an ICO coming out that has the potential to go up 10 times if you're lucky. The problem is that you have the potential to lose your money but then the gambling part is really what makes it so interesting.
I watch the price of Bitcoin but it never really appealed to me. I know nothing about it, but I do know Steem works. We use it everyday. That is where I am staying, for better or worse.
You can't go wrong with steem. It's definitely on the way up this year.
The scary part is from my internet search history certain ads target me. When the price dropped I started seeing ads on FB for articles about how to get out of bitcoin and how silly it is to invest. I ignored them. After 9 months I've learned to ignore the mainstream media. Like you said...there are higher powers who don't want us to buy bitcoin and control the media. I seek out other sources for my news.
I'm actually honestly curious whether or not there are whales controlling the newspaper stories because I wouldn't put it past them.
I’m holding my bitcoin for long term. If they are right and bitcoin starts crashing I will start scailing in because this is the future without a doubt.
Resteemed and upvoted!
Much appreciated.
thanks for sharing newspaper photo with news in your post