Why the Mainstream Media Fails to Get Behind Crypto
April 08 2019 - 12:52PM
ADVFN Crypto NewsWire
Bitcoin Global News (BGN)
April 8, 2019 -- ADVFN Crypto NewsWire -- Recently, it’s been
looking more and more like we have finally made it out of 2018’s
massive bear market. In response to the continuing upward trend in
crypto prices, the mainstream media has been more and more active
in lampooning the current bull market trend.
Today, CoinDesk published an
article that compiled several of these responses together in an
attempt to speculate on the mainstream media’s overall sentiment
towards the crypto market. Essentially, what this amounts to is a
continuation of what has always been true.
For the most part, media outlets
outside of the crypto sphere appear to believe the entire market is
a scam or something similar. According to CoinDesk, multiple news
outlets have attempted to pan crypto’s recent rise on one
particular buy of $100 million in Bitcoin that was placed on April
2nd.
Due to the fact that 14,808
Bitcoins and not 20,000 were purchased as the market began to
significantly rise, it is easy to question the claims of these
sources. Lending credence to this is the added truth that
apparently, almost all major exchanges experienced some sort of
uptick at the beginning of the market’s major movement on April
2nd.
Therefore, the added suggestion
that the market’s growth was fueled by one individual or company’s
buy order does not seem to be true at all. As if this is not enough
of a strike against the trustworthiness of the general news media,
CNBC’s Andrew Sorkin reportedly suggested that an April fools joke
was the real cause of the market’s sudden growth.
If you are wondering what the take
away from all of this is, it is actually quite simple. All media
outlets have some sort of agenda to fulfill. For that reason alone,
it has never been more important to individually validate every
claim that you read. In other words, do your own research, with
everything.
By: BGN Editorial Staff
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