In all trading markets, there is no more true price or value discovery based on supply/demand anymore.
There are only two things : technicals (bot trading) and the media "narrative" du jour to support the technical trading.
That's it. (Hint: just look at the 1m chart, that literally shows what all the worldwide Average Joe retail demand there is on any given day. It's a ridiculously pitiful, miniscule amount).
So what do you think will be "the narrative" will be when Bitcoin's technicals turn over to start a new bull run?
Is there even a real narrative in the MSM? I don't think I've really read any article that was relevant or even interesting. Always hype or doom with some fluff that is quite often just flat out wrong. Seems like the only thing they're good for are figuring out when to dump a few coins or buy some more.
I've long theorized that the MSM "narrative" for Bitcoin has always been and always will be negative, primarily for two reasons:
1. Wallstreet doesn't own 90%+ of all bitcoin (like they do with tech stocks), never will, therefore they don't want to promote it (i.e., they can't game the system therefore they are disinterested anyway).
2. The whales that are interested in the Bitcoin market don't want Average Joe to find and buy the bottom. If they can keep up the negative narrative around Bitcoin, they can say "Stay away, there is no good time to buy!". They only want the public to buy the next ATH in the last few weeks and be bag holders.
(yeah to much XRP posts and reads everywhere, it will vanish) 
