Death of Bitcoin Articles Are Usually a Good Sign for Bitcoin Prices
Today's article from CNBC announce's once again the the death of Bitcoin.
The title of the article is: "Bitcoin is 'worthless' and will perform worse than stocks in the coming months, analyst says"
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The article goes on to say:
- In coming months the price of BTC is likely to fare worse than other assets.
- Bitcoin is not a credible alternative to conventional currencies.
Death of Bitcoin Announcements from Mainstream Media
How many times have we heard the mainstream media pronounce the end of Bitcoin? It seems to me that everytime they announce the end of Bitcoin the BTC price has risen dramatically. And instead of eating their words the mainstream media's next words are Bitcoin is a bubble as the price rises dramatically.
What Will It Be This Time
When you listen to the cryptocurrency and blockchain experts you hear how we are still at the beginning of the blockchain revolution.
So who do you believe those trying keeping a debt-based world alive or those bringing technological change to the world? Only you can answer that question.
Links
Bitcoin is 'worthless' and will perform worse than stocks in the coming months, analyst says, 5 April 2018, CNBC
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Thank You!
Thank you!
contrarian view. That is why not too many on the planet are rich ;) Hopefully bitcoin moons! Thanks.
That's encouraging!
Enough times for it to become a long-running in-joke. :)
The funny thing is, the second part might be right. If some analyst had said that in (say) the spring of 2014, that part would have been true. Bitcoin kept sliding in the latter half of '14 and went nowhere in '15.
But it did come back, as we all know. '15 was definitely the year to buy Bitcoin. (Altcoins not so much, but they benefited later.)
So: scare articles do provide a contrary indicator - for lack of a better tag, "buy the corpse" :) - but only for long-term, preferably staged, purchases.
When I first saw the article I just shook my head and wondered "does the mainstream media ever tire of being wrong". The mainstream media seems to go whichever way the wind is blowing. And the mainstream media does not seem to learn from their past mistakes, they just double down.
We live is a world where reporting the truth does sell or generate clicks. Everything needs to be sensationalized. I guess that is the price we pay for living in a real-time world. What happens today is quickly forgotten when the latest event happens. There is a reason they are called "news stories" because in most cases they are just "stories".
Just my rant this morning....
I do think that stories like this about Bitcoin bode well for determining the end of one market cycle and the beginning of the next.
Thank you for your continued support @nxtblg, it is greatly appreciated.
Have a great day!
Steem on,
Mike
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Good ol' CNBC, 90% of their business is predicated on stock market coverage, they are of course objective right?!
The day CNBC starts embracing cryptocurrences and blockchain technology may announce the end of the adoption cycle.
I agree CNBC is not objective. Mainstream news is no longer journalism it is a big business and propaganda in my opinion.
Have a great day!
Steem on,
Mike
I think that the rest of the world will remain as long as the bitcoin will last.
Because all the facts of the people are not true.
yes india going to regulate now,banks will stop btc transcations for three months.lets hope fot the best.
the more they mock it the better it will grow
Agree with your words sir...👍
“When bitcoin currency is converted from currency into cash, that interface has to remain under some regulatory safeguards. I think the fact that within the bitcoin universe an algorithm replaces the function of the government …[that] is actually pretty cool.”
Eliminating the middle-entity through an algorithm is always more efficient.
Have a fantastic day!
Steem on,
Mike