Right about now, there’s a collaborated attack going on throughout crypto, however it isn’t targeting Bitcoin. It is targeting cryptocurrency industry journalists, who have little to acquire from what they’re being implicated of.
The scenario is yet another reason crypto needs less mouth pieces like Elon Musk and others who include nothing but memes and bold claims unbacked by any “research.”
Crypto Mouthpieces Are Destroying The Integrity Of This Industry, Responsible For Shakeout
The crypto market is extremely speculative. Even the United States SEC recently released a note alerting financiers of such. Concepts tend to run wild when belief is at its greatest.
For instance, TikTok investors made certain Dogecoin would reach Ethereum rates just a couple weeks back, now they’re licking their injuries like a hurt puppy. And most of the damage was caused by the mouth piece they liked most: Elon Musk.
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The subject of why crypto needs less frontmen has actually been thoroughly covered here. Even Satoshi disappeared taking no credit for their development, while most “influencers” in the area post bullish tweets, conspiracy theories, and even straight-out lies that insinuate the stability of others isn’t of high quality– all to gain more fans.
The issue is worsened when the influencer making the claim, working for a company with “research study” in their title, does not do any research themselves and rather counts on a comprised spreadsheet they discovered on the internet.
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TradingView.com False Accusations About "Bitcoin FUD" Boil Down To Boredom
All recently, while Bitcoin was "plunging"-- a word that gets written on this site and many other crypto outlets countless times per week, a handful of journalists used the word "gyrating" rather.
What is now being claimed, is that the use of that word instantly makes the media outlet guilty of "collaborated FUD" versus Bitcoin. Specifically if that site in some way has rates for sponsored content that is totally unassociated to natural content production and workflow.
As a website with the crypto possession's name in the title, would not it be absurd of we attempted to crash the top cryptocurrency by market cap?
"A rising tide raises all boats," is yet another term used often here. If the crypto market succeeds, we do well. So why worldwide would we wish to accept a weak payment to publish the word "gyrating?" And how does the word "gyrating" really crash Bitcoin?
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Much more silly this conspiracy gets, is the reality that the crypto market "collapsed" prior to the words "gyrating" were written. As was mentioned on Twitter, the cost per BTC "fell" from $50,000 to $30,000, then bounce back to $40,000 and returned nearly all the way to $30,000.
According to Merriam-Webster, gyrating can be defined as "to oscillate with or as if with a circular or spiral movement." Crypto reporters are guilty of perhaps passing by the best word for what's going on across the marketplace, but the cumulative leapt at the chance to use terms aside from "dropped", "rallied", and all the other typical tropes in crypto writing.
However sadly, thanks to the hive mind mindset, us journalists are guilty as charged for collaborated FUD we had absolutely nothing to do with, and up until mouthpieces like Musk and others are muted for great, they'll continue leading a the blind down the incorrect course.
Meanwhile, had you been following the sites that this "influencer" is assaulting, then readers could have known the market correction was coming months ago, when we released a slew of material like the below:
- Sticky Situation: Strength Indicator Says Bears Have Taken Over Bitcoin (released on April 22)
- Easy As Pi: Bitcoin Indicator Says The Top Is In (Published April 12)
- Technical Signal Suggests Gold Is Ready For Revenge Against Bitcoin (Published April 1)
- Bitcoin Weekly Momentum Indicator Flips Bearish For First Time Since 2020 (Published March 23)
- A Decrease In Bitcoin Whales Suggests A Bear Market Is Due (Published March 22)
- This On-Chain Metric Says Bitcoin Risk Is The Highest In Three Years (Published March 19)
These warnings came weeks before the "FUD." And they were proper, not FUD. Technicals were overheated and required a reset. Belief was blinded by the massive revenue taking by whales. The marketplace is trying to find a reason to why they were blindsided, and it is easier to point the finger at others than at themselves.
If you're searching for someone to blame, blame the similarity Musk and the accuser here who publish wildly unreliable claims with no real proof to support them.
Included image from iStockPhoto, Charts from TradingView.com