News is very important a factor since it can drive hype or cause fear. Because not many people have time to actually investigate, or truly understand what happens, the media - no matter whether traditional mainstream media or online media/blogs - are the relays.
Most outlets tend to have a position and that position can possibly bias their coverage.
If you read for example theGuardian, an otherwise decent investigate media unit, you will notice that they have a negative view on cryptocurrency and that influences how often they cover it, what they cover, and also the type of specialists they invite to write opinion pieces about it. Generally, theGuardian will mostly cause only FUD as a result.
At the same time, despite many media outlets covering the crypto market in the second half of last year and warning everyone, the vast amount of coverage actually caused the “tulip bubble” they warned for. Because of FOMO. At that point, the mainstream media (MSM) outlets warning for the risk of an unregulated market actually drove the hype all while they more often than not spewed FUD.
Imagine following scenarios:
1. Bloomberg, the Washington Post, and theGuardian tomorrow land an exclusive interview with Jamie Dimon (from JPMorgan Chase fame) who announces that they will investigate further on how to invest legally in cryptoes and are planning to soon expand their blockchain department. Yes, they have one and until recently it even was led by a woman.
Can you imagine what virality will be achieved by such exclusive news being reported by traditional respected media outlets. Watch that bull run!
2. Alternatively, what if the New York Times tomorrow publishes a report that the SEC is owing to introduce more frameworks and they will require more AML/KYC at ever lower levels, as well as identification of every ICO buyer. The next planned step after that is AML/KYC enforced on every trading platform which allows any conversion/cash out to fiat. Watch that nosedive!
In the end, what will drive the cryptoscene most are following elements:
1. Further adoption by regular, non-tech, users.
2. The introduction of more legal frameworks, i.e. more nations explicitly approving of cryptoes and providing structures within which to work
3. Eventually 2 will lead to “old money” flowing in the sector, a lot of which also coming from (hedge) fund managers who now need not fear anymore to not comply with their obligations, fiduciary duties. The accountants for the 1% will enter then. And so will Jamie Dimon and JPMorgan Chase.
In today's digital world, I would say news affect anything or everything. Because, the market is definitely driven by news, if its from trusted and established sources. Imagine, if SEC approves bitcoin ETF, then what will be the impact of it on bitcoin price !!! And there can be negative effect as well, from news, that hampers the reputation of bitcoin, e.g. North Korea comes and declares that it has many bitcoins which its going to sell !!!!!!!!!
And yes, there is something else than news, the actual facts, or truth behind the news. A fake news cannot stand for more time. So we cannot just publish that Facebook is going to buy 100000 btc, it need to happen in reality.
News is very important a factor since it can drive hype or cause fear. Because not many people have time to actually investigate, or truly understand what happens, the media - no matter whether traditional mainstream media or online media/blogs - are the relays.
Most outlets tend to have a position and that position can possibly bias their coverage.
If you read for example theGuardian, an otherwise decent investigate media unit, you will notice that they have a negative view on cryptocurrency and that influences how often they cover it, what they cover, and also the type of specialists they invite to write opinion pieces about it. Generally, theGuardian will mostly cause only FUD as a result.
At the same time, despite many media outlets covering the crypto market in the second half of last year and warning everyone, the vast amount of coverage actually caused the “tulip bubble” they warned for. Because of FOMO. At that point, the mainstream media (MSM) outlets warning for the risk of an unregulated market actually drove the hype all while they more often than not spewed FUD.
Imagine following scenarios:
1. Bloomberg, the Washington Post, and theGuardian tomorrow land an exclusive interview with Jamie Dimon (from JPMorgan Chase fame) who announces that they will investigate further on how to invest legally in cryptoes and are planning to soon expand their blockchain department. Yes, they have one and until recently it even was led by a woman.
Can you imagine what virality will be achieved by such exclusive news being reported by traditional respected media outlets. Watch that bull run!
2. Alternatively, what if the New York Times tomorrow publishes a report that the SEC is owing to introduce more frameworks and they will require more AML/KYC at ever lower levels, as well as identification of every ICO buyer. The next planned step after that is AML/KYC enforced on every trading platform which allows any conversion/cash out to fiat. Watch that nosedive!
In the end, what will drive the cryptoscene most are following elements:
1. Further adoption by regular, non-tech, users.
2. The introduction of more legal frameworks, i.e. more nations explicitly approving of cryptoes and providing structures within which to work
3. Eventually 2 will lead to “old money” flowing in the sector, a lot of which also coming from (hedge) fund managers who now need not fear anymore to not comply with their obligations, fiduciary duties. The accountants for the 1% will enter then. And so will Jamie Dimon and JPMorgan Chase.
In today's digital world, I would say news affect anything or everything. Because, the market is definitely driven by news, if its from trusted and established sources. Imagine, if SEC approves bitcoin ETF, then what will be the impact of it on bitcoin price !!! And there can be negative effect as well, from news, that hampers the reputation of bitcoin, e.g. North Korea comes and declares that it has many bitcoins which its going to sell !!!!!!!!!
And yes, there is something else than news, the actual facts, or truth behind the news. A fake news cannot stand for more time. So we cannot just publish that Facebook is going to buy 100000 btc, it need to happen in reality.