Bitcoin breaks through $ 16,000 but reporters don't talk about it, unlike 2017. Why?
I remember very well in October 2017, many news networks, both on TV and in online newspapers, started talking about the Bitcoin bubble when it was above $ 5,000 and kept talking about it until the price reached its level. maximum. and then began its decline in 2018 and 2019.
I also remember that the press has dedicated particular sections of their newspapers to explain the association of Bitcoin with scams, highlighting only negative aspects, citing for example the use of currency for the sale of weapons on the dark web. An overly negative media campaign that perhaps provided one more reason for a sell-off for its owners.
After 3 years, Bitcoin has regained strength and energy and is beating several records especially in the amount of exchanges, it will rise to 75 billion dollars a day, never so high even in 2017. But today is there no silence from the media?
Agree, this 2020 is particularly challenging: the pandemic unfortunately occupies a large part of the available space and then there were the elections for the US president which absorbed almost all the television broadcasts or the pages of the newspapers. But even browsing online in some newspapers that speak purely of the economy, there is no mention of Bitcoin.
Among other things, today Bitcoin has broken through the wall of 16,000 dollars, it had not happened since 2017, and probably this upward trend could also last for the next few weeks. Let me be clear, personally what journalists write does not affect me but it is curious how Bitcoin is totally ignored in this flourishing moment.
What could be the reason?
The answer I gave myself is that today Bitcoin represents something different from 2017. If the bullish movement of that year was purely speculative, now we are seeing something very different. Bitcoin has grown stronger, its technology is improving, and many private investors, even large corporations, are buying millions of dollars in Bitcoin and increasing their shares every day.
The economic policies of the world powers, due to the economic damage also caused by the pandemic, are printing a lot of money to help people cope with this bad period. It is feared that rampant inflation will soon lead to the devaluation of the FIAT currency and therefore the real commercial power will be represented by valuable materials, primarily Bitcoin itself.
I believe this is the main reason for this increase and therefore no longer speculative but there is a thirst for Bitcoin and everyone wants to own it, for fear of running out of it.
Bitcoin is the great mother of cryptocurrencies but soon the world will discover that there are many cryptocurrencies that have a value determined by the positive contribution they can make to our society and our way of life.
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