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Bitcoin – What Is Mainstream Financial Media Missing? Here’s Three Things!

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#1
[color=rgba(0, 0, 0, 0.8)]Bitcoin has been around for over ten years since the genesis block was mined, and it has gone through many price changes in its lifetime. While it has found multiple use cases and ways to circumvent the restrictions that consumers face in their own countries, mainstream media likes to tell a different story. A recent article from CCN sheds light on exactly how Bitcoin isn’t everything that MSM has suggested.[/color]

[color=rgba(0, 0, 0, 0.8)]While cryptocurrency has stayed around for the last ten years, mainstream media has continually focused on the shortcomings of the industry, especially as Bitcoin took a fall recently. In a 23% fall this week, this top cryptocurrency dropped as low as $6,515. With this selloff, the media has all the ammunition that it needs to blow apart Bitcoin.[/color]

[color=rgba(0, 0, 0, 0.8)]Forbes, for example, highlighted the falling prices of Bitcoin this week, earning over 200,000 views with their headline on the cryptocurrency – “You Don’t Need It.” The writer said that Bitcoin will only be able to succeed as the result of the failure of central banks, equity markets, and gold first, which just indicates the lack of understanding in this industry.[/color]

[color=rgba(0, 0, 0, 0.8)]However, there’s a lot that mainstream news websites aren’t taking into consideration. An article by CCN recently took the time to shed light on three key concepts that mainstream media seems to be missing about Bitcoin.[/color]

[color=rgba(0, 0, 0, 0.8)]“Bitcoin Is an Uncorrelated Asset.”[/color]

[color=rgba(0, 0, 0, 0.8)]Bitcoin presently is not attached to any other specific asset, like stock or gold, and there’s substantial information to support that statement. For instance, a report from CoinMetrics stated that there seems to be a lack of correlation between S&P 500. Recording data over a five-year period, there were only a few times that the asset classes appeared to correlate, but that data isn’t enough to suggest that the two numbers actually correlate.[/color]

[color=rgba(0, 0, 0, 0.8)]While gold and Bitcoin seemingly have a positive correlation that spans across a few years, the correlation is low and doesn’t hold much significance.[/color]

[color=rgba(0, 0, 0, 0.8)]For the most part, Bitcoin isn’t correlated with the stock market or gold, which means that the price of Bitcoin wouldn’t likely be affected if one of those markets tanked or even saw massive success. Regardless of the ways that the markets of other assets perform, Bitcoin remains independent.[/color]

[color=rgba(0, 0, 0, 0.8)]“Bitcoin Does Not Respond to Central Bank Policies.”[/color]

[color=rgba(0, 0, 0, 0.8)]The decisions of the Federal Reserve haven’t had much of an impact on the top cryptocurrency, even though financial mainstream media appears to think it does. For instance, the media seems to think that Bitcoin’s “rocket fuel” is the massive buying of Treasury notes, adding that cryptocurrency appears to be a hedge against the paradigm implemented with central banks. As CCN points out, nothing is further from the truth.[/color]

[color=rgba(0, 0, 0, 0.8)]The federal authorities have reduced the interest rates three times in the last few months alone, as the central bank has been expanding on the balance sheet. Bitcoin was dumped by 33% during that time, confirming that any influence from the federal government isn’t nearly what mainstream media claims.[/color]
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#2
For sure
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