Media Headlines Warn Not To Buy Bitcoin Only When It Increases-Why?
Just as the price of Bitcoin started to get out of the bear trap, the media headlines seem to be rushing in to stop people from buying or investing in Bitcoin. Why does this happen? Well, we are going to try and understand in today’s Bitcoin news.
This has happened in the past too just when bitcoin started to soar to its record highs in December 2017. Many headlines looked like this one:
“Don’t buy bitcoin, warns wealth manager’’
A little later at that time, Carl-Ludwig Thiele, the board member of the German central bank also warned people not to invest in Bitcoin. Most of the central banks issued a warning against Bitcoin and each and one of them found its place in a certain paper.
Another article from the Economic Times in 2017, published an article of the ‘’7 Reasons not to invest in bitcoin, cryptocurrencies.’’
The real question is what’s the purpose of the mainstream media?
The mainstream media doesn’t really care if people lose their money or even better, make some. But revenue and clicks have something to do with the headlines. Forbes, for example, published an article where 6 reasons on bitcoin futures being better than bitcoin were explained in December 2017. However, three days later they published another article saying that a 1,400 percent BTC rally is not something you should care about.
It’s really important to know that mainstream media can’t really teach you about cryptocurrencies. Most of the headlines are just blank algorithm-based articles so you feel tempted to click on them and get the website some extra clicks. This is why people were overwhelmed at that time since the media was swamped with anti-crypto articles and not really providing you something that you can learn and have benefit from.
If all the mainstream media says about crypto is ‘’not real money’’ and a ‘’scam’’ why do they spend their time to discredit it so much? It seems that the people who benefit the most from the anti-crypto media are the multi-billionaires who benefit from the status quo the most.
Bitcoin managed to beat the Amazon stocks in the past seven years which is not something that another asset has done previously.