Crypto Theories: The Bitcoin Fud and Shill Cycle
I wanted to take a minute to just analyse the type of news I'm seeing about Bitcoin and other cryptocurrencies coming out this week (March 11-16, 2018) and propose a few possible reasons as to the negativity I'm seeing at the moment in terms of headlines and biased opinions I'm reading in the articles I'm coming across.
Often times when I'm trying to catch the headlines I just go to Google and search 'Bitcoin' or 'Cryptocurrencies.'
This is a great way to close in on the public psyche because the sad fact is that mainstreem news often influences the majority of westernized people on this planet for more than I'd like to see... It is simply tragic to see such groupthink going on and the cloud of what I really have to refer to as 'mind control' taking over public opinion because lets be honest, if you trust the source, you allow the information presented or at least some of it the luxury of belief. So what are people believing today when they scan the headlines?
Alright well, I performed this search today on Thursday March 18th, 2018 and this is what I found leading the headlines...
CNBC has the top spot with a headline 'Bitcon bubble just about to burst, money manager says'
Well everyone has the right to an opinion but is this really news? This is simply a single man's OPINION and we are supposed to believe it because CNBC is running the story along with Bloomberg, Market Watch and Money Magazine?
I don't know about you but I've never even heard of Allianz Global Investors. So you can take a guess how much weight I give this news in terms of making decisions. In fact I've always tended to side with the investing greats when it comes to advice... Who was it that said 'when others are selling, you should be buying' I'd agree with that but be careful to avoid falling daggers or at best try to catch them close to the ground (hard to do when you dont really know where the ground is...).
Well there is certainly alot of negativity being propogated by mainstream media this morning! Based on this first search I'd say that we are heavy into the FUD (accumulation) cycle... Because while you are panic selling, they are picking up the pieces or at least thats my belief as I've seen this cycle over and over again, this isn't my first rodeo folks...
Some of my readers might say this is a biased opinion so I think I might need to go one step further in this estimation of the crypto mainstream media FUD cycle in full effect...
To further prove my point here is what I found when searching Google for 'Cryptocurrency' this morning!
Alright, lets see what we have here... Well Forbes is working on the public perception that there is something sinister about cryptocurrency projects... Oh yah thats right, they all discriminate against women! Could that be true... Well I'm going to go out on a limb and guess that there are plenty of women involved with cryptocurrency projects so my BS detector is going off when I look at this story...
Well the second is a bit of nothing news by Quartz this morning... Nothing to see here, move on folks, party is over...
The third article published by CNBC is another FUD piece about Google 'cracking down on cryptocurrency' well they sure picked a great time! Kick these poor noob crypto holders when they're down why don't ya!
Lets take a look at the daily BTC chart to see what sort of effect all this bad news is having on the price today...
Well it doesn't take a genius to see what side the mainstream media is on in this part of the market cycle. The direction we are pushing for is down if we are major corporate interests and wealthy investors. Why are we going down, well we sold and are selling... We'd like to restart a bit lower and load our bags for the next shill cycle thats probably around the corner eh?
Is this the death of crypto? Probably not... Should we be worried, well I'm not but I believe in the transformational properties of blockchain and the financial freedom that Bitcoin and other cryptocurrencies bring.
You guys have to make up your own mind for yourselves but I'm more bullish than ever seeing how hard they want to push this thing down! When others are selling, I'm throwing all the money I can at it... Sale days!
What do you guys expect 2018 to hold for cryptocurrencies? Is this the end or just a break before another heavy bull run?
Please leave comments below...
Thanks for reading @techblogger!
Source:
I do the same general searches weekly to just see the mainstream sentiment of the crypto market. Most of it is opinionated dribble that really has no weight on why markets move but you're right that people unfortunately read and it therefore take it as fact.
But in my opinion, price doesn't really give a shit about this type of news. We're falling because the market, especially BTC/USD, is following a textbook bearish trend.
See the order in markets and worry less.
:)
I think someday there will be changes whether the change is big or small. if we notice the currency there must be up and down, every trade there is a shift. this is just a little review from me .
Nobody I know watches the mainstream media- the alphabet soup ones.
As cable replaced antennas and DTube will replace the otherTube, They will be history. But then again, the negative press got Trump in, like it or not.
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvote this reply.
Thanks your information
Keep this up, Followed you for more :)
^--- You made this exact same comment at least 6 times and close variations at least 41 times in the last 4 hours. View these duplicate comments
Upvote this comment to support @duplibot and help reduce spam and superfluous comments.
Forbes are all over the place. They had an article about ripple calling it 'XPR'.
To think they used to be a respectable media organisation.
I just have to say a quote I heard long time ago:
I think this really suits the topic because Bitcoin news are only built on opinions. I don't have a lot of BTC anymore (high fees) but I got over the decline of STEEM price so I could gain more SP while it's cheaper than it was a month ago.
Financial news is always late. It always talks about what just happened as though it were going to happen. They are literally retarded.
Back in 2014 there was an even bigger spike in price over the end of the year. I think what happens is that persons invest in BTC before the year is over so as to not have to declare profits. What happened back then is that the spike was 5 times this last one, in proportion, and it took about a year for the price to go back down to the price it was at before the spike. A bit more than 100$. Then it started climbing again. Now we have already gone back to the price before the spike, around 8k. I expect the bulls to come back now.