COINNEWSCHANNEL
Many media organizations try to explain blockchain technology by using terms such as Token or Coin, without understanding the meaning. By calling a Coin or Token "Virtual currency" these organizations create a negative perception in the minds of people and markets . Blockchain cannot be explained precisely due to wrong news. Moreover, digital assets are unfortunately considered similar to betting and highly speculative.
Leading media organizations become ridiculous with such news "Today, Tether gained against most cryptocurrencies" and this proves how far they are from the market. Furthermore, they launch Bitcoin as if it was produced by a company. Briefly, people can learn these terms from people who explain or write news reports for television. Price fluctuations in Bitcoin lead people to do their own research. In recent years, a significant increase has been observed in research about Blockchain, token, coin, ICO and mining concepts. Do the founders and developers really know about these concepts? Can people access true information?
It is now impossible to follow developments in cryptocurrency markets, worth billions of dollars, through a single channel. Even those who have contributed to Blockchain technology often fail to notice new ICO projects. Investors and developers are trying to keep informed about developments by following thousands of users on social media. In addition, they have to check the accuracy of shared information, and by doing this, they lose time.
We are being deceived! All of us! We are being deceived regularly! Fake news are generated by imitating websites of major media organizations and people are directed from social media accounts. As in the news "Elon Musk has invested 770 million dollars in Bitcoin." Hundreds of accounts shared this within a few minutes and thousands of people liked it. Tens of thousands of people suffered a loss, and the news turned out to be a lie.
Another news on social media: the founder of Ethereum, Vitalik Buter was found dead. Millions of investors who believe in this fake news have made panic sales. Ethereum fell into disrepute.
A new research by the Massachusetts Institute of Technology (MIT), published in Science Magazine, reveals that tweets consisting of false information spread six times faster than tweets that consist accurate information.
Advancements in technology caused banknotes to be replaced with cryptocurrencies. Many countries keep their pace with this change, while others create a negative atmosphere in the market with ambiguous statements and news about prohibition. It is sometimes revealed that the statements of the people causing the market volume to fall, are making more investments and are enriched more than anyone else.
These manipulative statements have a negative impact on the market. Hence, the investors prefer to stay away from new ICO projects in this pessimistic environment.
We witnessed that the market volume of 960 billion dollars decreased to 760 billion dollars. Investors were unable to comprehend what happened. The website offering the market data had removed the South Korea stock exchanges from the list without a notice. However, until the situation became apparent, billions of dollars of selling panic occurred.
Unfortunately, information pollution on social media cannot be prevented. We don't have the chance to question the accuracy of the news and social media shares. In such cases, there is the need of immediately reaching out to broadcasting organisations or individuals to verify information.
