Wednesday’s market crash has triggered yet another barrage of obituaries from the mainstream media. The Bitcoin price took a sharp dive to “pre-Elon Musk pump” levels of $30,000. Moreover, the mainstream media took an unsurprising approach covering the market-wide crash. It is by announcing that Bitcoin is dead.
Bitcoin obituaries
According to Bitcoin, obituaries that achieve the end of Bitcoin have been announced more than four hundred times. Thus, there are 414 obituaries for Bitcoin since the time of its inception in 2010. However, yesterday’s postmortem assessments of Bitcoin are still being added.
Biggest Ponzi
These obituaries range from calling the Bitcoin biggest Ponzi scheme in history to comparing the BTC as Monopoly money. Moreover, the first year of Crypto shows only one record when the Bitcoin price was $0.23 explaining why Bitcoin can’t be a currency.
Bitcoin Bull Run
However, more than a quarter of submissions are related to the Bitcoin Bull Run 2017 and a massive crash afterward. Thus, the negative stories on Bitcoin arrive primarily in time of price crashes Bitcoin.
However, obituaries data shows that it is not usual to have an article burying the largest cryptocurrency while the market is still going on.
Good Topic to Criticize
Bitcoin has always been a good topic for the media to criticize. Moreover, price volatility and the mystery of its creator Satoshi Nakamoto are making Bitcoin an easy target for sensational headlines.
In addition, Bitcoin has a decentralized structure that enables usage in illegal transactions. Therefore, despite the crash, some experts are convinced that the market will bounce back.
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