We wanted to take a minute to just analyse the type of news we've seen recently about Bitcoin and other cryptocurrencies and propose a few possible reasons as to the negativity that was seen recently in terms of headlines and biased opinions.
Often times when we try to catch the headlines we 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 we'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, we performed a search on Thursday March 18th, 2018 and this is what we 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?
We've never even heard of Allianz Global Investors. So you can take a guess how much weight we 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 our readers might say this is a biased opinion so we think we might need to go one step further in this estimation of the crypto mainstream media FUD cycle in full effect...
To further prove our point here is what we found when searching Google for 'Cryptocurrency' that 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 mainstream was pushing for was down. 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! Sale days!
Since this news a few weeks back there have been a few more positive stories entering circulation like the fact that Soros is in crypto now or that Goldman Sachs is opening a trading desk... Could may be more positive for crypto?
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...
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