The coverage of the latest Bitcoin news by the mainstream media outlets has always been interesting, especially when it comes to the price fluctuations of Bitcoin. While the coverage of Bitcoin by the mainstream media was high during the historical run-up to the price high, it was also high as in the aftermath of the price crashing.
A new study conducted by the blockchain firm Clovr shows that the coverage of Bitcoin by the mainstream media tends to peak when the cryptocurrency surges and falls from its known positions. This happened again over the past week, when Bitcoin dropped to the $3,000 lows.
As the report states:
“The appeal of reporting disaster might explain more recent trends in coverage as well; in May and June 2018, for example, a slide in value correlated with a temporary increase in articles.”
Even though the ‘disaster’ of Bitcoin definitely scaled up when mainstream media got in, consumers cannot escape to blame any side as they are dictating the trends. For instance, people who are searching for the “bitcoin price” keyword are the ones that actually contribute to the trends.
— Btctools (@Btctools) November 29, 2018
The Clovr report also showed that in its infancy, the coverage that Bitcoin received was mostly positive – but also that this changed as the most dominant cryptocurrency gained in stature. According to the report, there were more positive articles on Bitcoin from two years ago than the ones published last year, even despite the price of BTC surging.
As one can see, there are many media outlets that skew liberal and the economic and the financial media houses which had more positive stories on Bitcoin than negative. All in all, the technology media outlets as well as the outlets that skew conservative and centrist content, demonstrated a more negative sentiment in their Bitcoin coverage.
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