The recent spike in the price of Bitcoin [BTC] has had ripple effects well beyond the cryptocurrency industry. With commodities, social media giants, telecommunications, and even every-day retail outlets like Starbucks and Whole Foods adopting digital assets, one industry plays fickle.
Mainstream financial news media outlets often label the decentralized currency industry as fool’s gold. Traditionalists often do not occupy themselves with nodes, private keys, and cold wallets, and a recent piece of research has charted mainstream finance media’s “only in it for the highs” behavior.
According to a Reddit post which charted Bitcoin’s exposure in mainstream media by u/atc2017, the notoriety of the top cryptocurrency is “increasing.” The user stated that this “scrapping” of several headlines has been a year in the making, amassing over 150,000 headlines from “financial news websites, blogs and forums.”
The foundation for this research, according to u/atc2017 was,
“Since, arguably, the rise and fall of crypto prices is related to the exposure and awareness by the general public, I found it interesting to see how much Bitcoin/Crypto is mentioned on general news outlets over time.”
Headlines charted out on the graph are categorized as positive, negative and neutral, and the timeline for the same is from May 2018 – May 2019.
As can be seen from the gaping hollows between the black price line and the headline distribution, it is clear that when cryptocurrency bulls are raging, the media is fairly lackadaisical. Three key periods which elude to this disparity are May 2018, when the price rose over $9,800, prior to the early September decline and the current price rally.
Bitcoin, in the second quarter of last year,