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Why the Mainstream Media Fails to Get Behind Crypto

April 8, 2019

 

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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