Cryptocurrency and the Media

The media is a treasure trove of the latest trends and news. It’s not rare to hear constant warnings about choosing the right platforms to follow to ensure that you get accurate information, especially for highly sensationalised topics. For instance, social media cryptocurrency news can be extremely polar and flooded with opinions. You might have to explore a less biased cryptocurrency social network to learn the latest in the Bitcoin evolution, Bitcoin price, altcoins, and more. 

In 2017, when the Bitcoin price spiked to $20,000, the entire world was all over the trending cryptocurrency news. Every news show, paper, and podcast was hyping the Bitcoin price and marketing cryptocurrency like no other, bringing BTC to the mainstream market. The cryptocurrency growth took an upward trend – but experts and industry professionals believed that the spike wouldn’t last. 

And they were right. Shortly after the Bitcoin popularity boomed, prices fell, and the coin took a step back to the shadows. 

Since then, we have not heard much from the media about cryptocurrency. 

But this year is different. 2020 has been one of the greatest years for crypto; the entire industry is going strong despite the initial panic-selling in the early days of the pandemic. The Q4 bull run has revived the crypto social media sphere and has sparked conversations on blockchain technology and digital currency. And this time, the news has made it clear that this boom is very unlike the last. 

The Bitcoin price has, once again, gone up, and it’s currently worth $19,626 AUD (Update from February 2021: the Bitcoin price has officially breached $57,000!)

What makes this year different from 2017 is that the price surge isn’t a fluke at all. The recent cryptocurrency growth didn’t happen overnight. It was instead a steady increase over the course of a few months. It’s not just the Bitcoin price that benefited from this recent bullish surge. Ethereum has also been steadily going up in value – and so are other altcoins. 

Waves of excitement are fueling this successful run. Recently, billionaire investors, including Paul Tudor Jones and Mike McGlone, have expressed interest in Bitcoin, stating that it would be an incredible asset in a few years. This support has motivated ordinary people and investors to look into cryptocurrency and take the first step by making a purchase. 

Unlike in 2017, when people believed that the BTC price wouldn’t hold, the Bitcoin price prediction beyond 2020 has remained optimistic. That means even analysts and economics and betting their positive forecasts for the next 5-10 years. 

Bitcoin specifically is now being touted as the next big investment opportunity. Many news channels such as Yahoo Finance and CNBC have been talking about this to their millions of viewers. The things they are saying are positive when compared to the coverage of 2017.

What does the media say about cryptocurrencies longevity?

Many call Bitcoin and cryptocurrency a good backup investment that can be used as a safety net in case of an emergency. Also, many companies are taking this advice and investing in it. In fact, 3.75% of all current Bitcoins are locked up in the treasuries of publicly-traded companies. Generally, the more corporations interested in BTC, the higher its price is expected to grow due to institutional influence. 

It is such a cliché to say the media controls everything, but the fact is they do control a large portion of our lives. And when multiple news sources have the same opinion of a topic as controversial as cryptocurrency, it might be time to listen.

Paypal will start allowing users to buy, store and sell cryptocurrency on their app in 2021, and Coinbase is releasing a cryptocurrency VISA card in America. The time has never been better to invest in cryptocurrency. To track the Bitcoin price progression or any other cryptocurrency, click here and use our crypto tracker.