All the news channels have reached the peak of society, and people are now more dependent on the news channels. News or media brings a massive effect on anything that is happening in the community. We tend to focus on the events that come up on the story even if they are of least importance, while we chose to ignore the news, which is essential.
The news channels and the prints and the digital news are so influential that we do not even think whether the press has any relevance or importance in our lives. We choose to hear all the not so essential news instead of hearing the ones which we need. Fortunately, and unfortunately, we consider that whatever the news channels show us is all right and must be considered.
I hope now you understand the impact of the media on our daily life; it is immense. We must believe that the media is covering a piece of news means it is an important piece. But how many of us judge whether it is necessary or not?
Likewise, the good and the bad of the bitcoin is what the media shows, tells, or writes. We have chosen to keep our eyes shut and obey what the media represents. When the profit cryptosoft was brought up by the media as a significant subject of discussion, we understood that it manipulated the press.
Media regulates the brain of the people, and they play well with the thought process of the people. Hence we would bring in front of you how the good and bad news affects bitcoin.
Effect of News on Bitcoins
Firstly, one thing is sure that the good and the bad news affect bitcoin and the approach towards bitcoin. But the question is, why is bitcoin so majorly responsive to the good and the bad news?
Bitcoins are highly responsive to the good, and the bad news is because it is not like the traditional currency. Moreover, most people are not even aware of the existence of bitcoin, and hence whatever the media says, people believe that. One the other hand, this currency is not controlled by anyone, while the traditional money is controlled and regulated by some authorities. Many of the points of view have been made and destroyed by the media itself. The media channels primarily create positive opinions in the minds of the people and the negative aspects.
Effect of News in 2017
Bitcoin has been in the news since 2008, but something significant happened in 2017 that brought Cryptocurrency back under the limelight. In 2017, most or a large number of people invested in bitcoin mostly. As per the report, the rise in the price of the bitcoin happened in December 2017. The amount that had lowered in 2011 had increased in 2017 by almost more than 2000%.
The boom had started to increase the value of the bitcoins largely. All of this rise and fall has taken place with how the media reacted to the presence of bitcoin.
Media Strategy on Bitcoins
It is the strategy that the media has taken up widely, and they do the marketing and the branding of bitcoin. Imagine that there are so many other altcoins and other cryptocurrencies, but have you ever thought why most people know about bitcoin?
It is nothing but excellent branding and marketing. This is what the media has been doing since 2018, And it has made bitcoin and Satoshi Nakamoto a brand. Bitcoin is the first Cryptocurrency, and there were many other cryptocurrencies in the market. But even now bitcoin has been an essential part of the crypto industry, and people have accepted more cryptocurrencies than any other digital currencies.
Media has always been an essential part of society, but we need to make the correct use of the news channels. It is our responsibility to use the news platforms to bring out the accurate news and reach the report to the precise population of the people who would realize that they had some misconception about the cryptocurrencies.