Topic: A reminder about the media - page 4. (Read 578 times)

I feel like they're mega bearish and so is youtube. The majority of news revolves around 3 things.
FTX being a scam that will make people lose trust in cryptocurrencies and allow politicians and banks to overregulate.
Possible bankruptcies of other companies that had investments on FTX and possibly a liquidation of their assets.
FTX hacker dumping stolen coins on the market.

I haven't seen such fear in the media since the Chinese bans that followed Gox bankruptcy in 2015.

One of the core factors behind is the need to generate articles very frequently, something that has multiplied over time as more media write about bitcoin news. This urge to publish paves the terrain for articles being spun with no solid fundamentals, many entering the speculative area base upon this or that analysis or prediction pulled out of the backside slit. On other occasions the news may be imprecise, misinterpreting what the original source really states, or decontextualizing it, causing the part to be taken for the whole. That is when we don’t get to see articles about how bitcoin has gone up 0,x% today, which are pointless.

The above though does not take away that news will be propagated through the media, and important information is bound to find its path to them, and subsequently to us. When we read articles here and there, it’s up to us to separate the wheat from the chaff, contrast the information we’re interested in, and formulate our own assessment.

It is true that, for those who casually take a peek at the media these days, they may be getting the impression that bitcoin is dead due to the amount of pseudo-apocalyptic articles around, just as a casual peek a year ago made us apparently make it to the moon and beyond (through bitcoin) without a shadow of doubt.

Media houses don't give a damn what Bitcoin price might be tomorrow. They care about numbers of clicks and money from ads.

Ever notices how so many media houses go quiet on Bitcoin during the bear market but then start making daily news about Bitcoin when it goes up and most of the content is usually just FUD with so many clickbaits.

Media is a good contra indicator if you can see the pattern. If you're super optimistic outlook or very bleak portrayal of the market, prepare for the opposite to happen or wait for the sideways. I remember there is a site that collect news articles on this topic but I can no longer find it. Twitter is the main echo chamber these days, if that website is truly gone maybe we won't see such an accurate contra indicator in the future. Of course, at the end of the day it is just a prediction, it may or may not come true.

I couldn't have said it better myself. I've also noticed this pattern in news coverage. When the market is bullish, excessively optimistic predictions keep popping up, and the exact opposite thing happens during bearish periods. News and predictions mostly follow market trends, just like you said. I don't see any valid reason to take them into account. I don't even bother reading any kind of analysis or news anymore. That keeps my mind at peace. Although Bitcoin has taken a hit due to the FTX fall, it's perfectly normal since the cryptocurrency world has taken a solid hit with it being one of the largest exchanges worldwide.

Checked the pricing after these dates. Oh wow, they were extremely wrong and totally missed a start of the bear market. That, of course, doesn't mean that this time around we'll have the opposite situation, as the bear market may well continue into the next year. But it's indeed a good reminder that the media make terrible mistakes when it comes to predicting the price of Bitcoin, and that price predictions aren't scientific in nature. There's no science-backed way of making such predictions, and thus anyone is as good as anyone else in this matter.

Is the news outlet finally turning to mega bearish? The last time I read news was they are expecting a recovery since Bitcoin is consolidating around 15k to 16k price area. 

News outlet usually just follow the trend the market since that’s what people want to see. People wants to see the price to go lower on bear market since they want to buy cheaper price. This is what media outlet feeding to crypto people to attract them to read there articles. It will not hurt to play safe but following news is really the dumbest thing to do specially on trading.

Good catch on that news.

These media predictions is like a cricket toss with only two possibilities. It can come true also but you are right that these are not reliable. One should do his own research before investing in any coin.

I'd like to remind those of you who feel wear down by the  market and the media headlines make them feel even worse.
You wake up, check the news and get served a bunch of FUD about bitcoin. Then you go to youtube and get another dose because most bitcoiners there turned into bearish haters.
Here's a quick reminder that they're wrong every time and always follow the trend.

09 November 2021
Bitcoin (BTC) At New ATH, Key Factors Showing Why We Are At Beginning of the Mega Bull Run
https://cryptonews.net/en/2576747/

12 November 2021
Bitcoin due to hit $90K 'in coming weeks' despite pullback — Latest technical analysis
https://cointelegraph.com/news/bitcoin-due-to-hit-90k-in-coming-weeks-despite-pullback-latest-technical-analysis

Stay strong and don't follow the media