Bitcoin is being discussed on CNN just now

[cheezcarls]

After washing the dishes, I just saw this live on TV but never had a chance to record this interview on my phone. Who else is watching this too?



Right now, I see Bitcoin keeps going down below $33K. What are your thoughts, reactions or opinions about this CNN discussion about "A Pause in Bitcoin Rally is Helpful"?

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[AB de Royse777]

I will not consider it good. This means the price against fiat will drop now.

It's proven from the past that when mainstream media come into conversation and start highlighting the bull people jumps into the market but then market crash eventually. Whales start to sell and all those noobs in the community buy those coins. At some point price starts to drop and those noobs get panic attack and they also starts to sell in loss.

The opposite happens in bear market too. If anyone chase bitcoin based on the mainstream news then they will never be able to hold Bitcoin.

[Poker Player]

I will not consider it good. This means the price against fiat will drop now.

It's proven from the past that when mainstream media come into conversation and start highlighting the bull people jumps into the market but then market crash eventually. Whales start to sell and all those noobs in the community buy those coins. At some point price starts to drop and those noobs get panic attack and they also starts to sell in loss.

The opposite happens in bear market too. If anyone chase bitcoin based on the mainstream news then they will never be able to hold Bitcoin.

Well, I don't think that's something that's going to happen 100% of the time.

The recent rally has been fuelled more by institutional investors than by retail ones. Also because a lack of supply. And I think institutional investors and the lack of supply are two factors that are not going to be influenced by wether there is a debate on bitcoin on CNN or not.

[kolesozw]

Well, I didn't watch this particular, but I think that with the increased interest, buzz, and hype, we will watch more mainstream media coverage. This could bring some fresh blood into our eco-system.

[YOSHIE]

Yes, Bitcoin is currently going viral, everyone is talking about it with this new 2020 record, the Bitcoin price hike has been counted 3 times this year, even though the stock market crashed due to the pandemic, Bitcoin is still going up.

It is not over yet. Currently investors prefer investing in cryptocurrency rather than gold, the biggest factor affecting the price of Bitcoin soar due to the weakening dollar USA, this is where the trigger for increased investment instruments against bitcoin.

If the dollar weakens over the next several years, it is likely that future Bitcoin prices will exceed current levels, Many televisions are currently discussing the current and future price of Bitcoin.

[fiulpro]

The price of bitcoins below 33k $  is completely natural since people are now panic selling after the rally of 40k $. This was supposed to happen sooner or later and it's not as aggressive as the price was back in 2018.  

Well, I didn't watch this particular, but I think that with the increased interest, buzz, and hype, we will watch more mainstream media coverage. This could bring some fresh blood into our eco-system.

This could even mean that the government and the media can make negative reviews and the comments which can make people to panic sell more and the price can go well below 30k therefore this would be the perfect buying opportunity for the people who missed on the rally.

I will not consider it good. This means the price against fiat will drop now.

It's proven from the past that when mainstream media come into conversation and start highlighting the bull people jumps into the market but then market crash eventually. Whales start to sell and all those noobs in the community buy those coins. At some point price starts to drop and those noobs get panic attack and they also starts to sell in loss.

The opposite happens in bear market too. If anyone chase bitcoin based on the mainstream news then they will never be able to hold Bitcoin.

The media is never fair with Bitcoins therefore I believe they will do more harm than good and the people will say " see we told you "

The graph is fairly normal if people are there since the beginning it's completely fine if the price goes up and down after a major change.

Just wait and hold the coins.

Soon enough we will see a better rally in the future.

[DdmrDdmr]

A lot of the rally is supposedly due to institutional money being poured in. Many other potential institutional investors are seemingly looking into bitcoin as a reserve of value, and looking at the big picture with a wider period of time, it seems to comply.

Nevertheless, the message that a 20% drop in 24 hours sends is not that brilliant (despite a sizable drop being expected). Money tends to behave rather cowardly, and from a corporate point of view, a potential drop of 20% is not that easy to digest. The positive side is that playing the longer game performs reasonably well.

[Bttzed03]

For those who aren't aware yet, this is not the first time CNN talked about bitcoin.

A Pause in Bitcoin Rally is Helpful

It is and that has been mentioned by other forum members too in various discussions. We all know a drop is coming after an insane rally from $30K to $41K in the last seven days.

A lot of the rally is supposedly due to institutional money being poured in. Many other potential institutional investors are seemingly looking into bitcoin as a reserve of value, and looking at the big picture with a wider period of time, it seems to comply.

Nevertheless, the message that a 20% drop in 24 hours sends is not that brilliant (despite a sizable drop being expected). Money tends to behave rather cowardly, and from a corporate point of view, a potential drop of 20% is not that easy to digest. The positive side is that playing the longer game performs reasonably well.

This got me thinking, what if these same institutional investors are playing the market to shake out weak handed retail investors to buy more BTC at a discount?

[kentrolla]

A lot of the rally is supposedly due to institutional money being poured in. Many other potential institutional investors are seemingly looking into bitcoin as a reserve of value, and looking at the big picture with a wider period of time, it seems to comply.

Nevertheless, the message that a 20% drop in 24 hours sends is not that brilliant (despite a sizable drop being expected). Money tends to behave rather cowardly, and from a corporate point of view, a potential drop of 20% is not that easy to digest. The positive side is that playing the longer game performs reasonably well.

Agree, people jumped to buy BTC at higher price too those who bought in 40k would be really worried now I mean excluding long-term holders, BTC is extremely risky and this live drop is a genuine evident for that nearly 20%
drop which is really shocking. Either a big institution would have sold in big numbers or a big whale would have entered.

We everyone know BTC market is very volatile and risky but it all depends on our plan and investment, so think and make a decision.

[Fesatmas]

Right now, I see Bitcoin keeps going down below $33K. What are your thoughts, reactions or opinions about this CNN discussion about "A Pause in Bitcoin Rally is Helpful"?

In my opinion, this is a preparation at the beginning of the year to stabilize the price of bitcoin again. we are always in line with the bitcoin cycle, where the news will be very reflex when the world market multiplies two positions. first is a decline and second is an increase.
At the same time, some time ago, the media highlighted the price of bitcoin as increasing from year to year. which ends at a price of half a billion.

and today you gave me information related to CNN, I'm no longer surprised that the media will appear on the surface, some are making fun of the price. bitcoin rises and falls rapidly, marking a big difference from the relatively stagnant value of gold.

I was actually confused by the news that disappeared when the price of bitcoin had stabilized.

[Crptomagma]

Well I didn’t catch the program but I think it’s not a good development. The mainstream coverage media will be emphasizing on the bull run and will bring in more new bitcoin enthusiasts into the system while the price of bitcoin keep going up and down.

[Asuspawer09]

CNN or news is a bit helpful for sure as they influence a lot of people seeing bitcoin making a lot of people millionaires or even billionaires.

From the news and articles, the drop was because of the miners selling their bitcoin in order to make a profit, because they were miners and to keep the company going they need to sell at some point.

The drops in the market for me are healthy in the market because that is where you could get the opportunity to invest and gets its profit.

In the past month, we could obviously see that the bitcoin market price just pumping and if you're in bitcoin long enough we know that it is just a roller coaster, the number of bitcoin holders compared to the past years is a lot higher so for me we are still in the bullish.

[Wysi]

It's exactly the repeat of 2018, we witnessed similar breaking news coverage from all the media outlets back in 2018 as well Bitcoin was bullish we witness the same now as well, but the best part is without directly telling that Bitcoin is crashing or is going to go down media will start negative speculation about Bitcoin instill fear in the mind of new investors might panic sell which will cause more damage to Bitcoin.

[serjent05]

Well, I didn't watch this particular, but I think that with the increased interest, buzz, and hype, we will watch more mainstream media coverage. This could bring some fresh blood into our eco-system.

Same thought here, CNN found Bitcoin topic as an interesting and trendy one since it surges over 300% in just a short period of time then losses almost 23% of its all time high value in just a matter of days.  How good it is to see Bitcoin on media depends on how they tackle the conversation about it. 

I agree with what has seen in the picture that the pause on the Bitcoin rally is healthy for Bitcoin because it opens new windows for the newcomers and at the same time gives another opportunity to those who missed buying at the current price.

[Beserabya]

I think we can think of this drop as a little bit of breathing and tremors. I see this as saving energy before the big jump

[KennyR]

It's exactly the repeat of 2018, we witnessed similar breaking news coverage from all the media outlets back in 2018 as well Bitcoin was bullish we witness the same now as well, but the best part is without directly telling that Bitcoin is crashing or is going to go down media will start negative speculation about Bitcoin instill fear in the mind of new investors might panic sell which will cause more damage to Bitcoin.

I do think the same. During the previous bull market the market grew gradually, but the fall in price happened all of the sudden when people are thinking of the price to mark new ATH. Right now the market situation looks like the same market move of 2018. This time there is more chance of market growth once again. Those users who missed the opportunity during the previous bull market have made use of the present market's ath.

[carlfebz2]

After washing the dishes, I just saw this live on TV but never had a chance to record this interview on my phone. Who else is watching this too?

Right now, I see Bitcoin keeps going down below $33K. What are your thoughts, reactions or opinions about this CNN discussion about "A Pause in Bitcoin Rally is Helpful"?

Not surprising for Bitcoin to be a headline in some news specially now that it do breaks new ATH's or this not common events.

In the comment or headline about a pause in bitcoin rally then i do saw that its quite relevant yet seeing these numbers are based on observations
which is part of common sense though.

In investment perspective, any investor or business-related type of person can really identify or can make out presumptions about
price declines or corrections that neither might be helpful or not on said asset. They are just correlating words
from traditional investments that they've known.

[TimeTeller]

Well, I didn't watch this particular, but I think that with the increased interest, buzz, and hype, we will watch more mainstream media coverage. This could bring some fresh blood into our eco-system.

Same thought here, CNN found Bitcoin topic as an interesting and trendy one since it surges over 300% in just a short period of time then losses almost 23% of its all time high value in just a matter of days.  How good it is to see Bitcoin on media depends on how they tackle the conversation about it.  

I agree with what has seen in the picture that the pause on the Bitcoin rally is healthy for Bitcoin because it opens new windows for the newcomers and at the same time gives another opportunity to those who missed buying at the current price.

Haven't watched that news segment but hopefully they tackled matter-of-fact with regards to bitcoin.
Some people are having negative perception towards crypto or bitcoin in particular because of how the media portray it to people.
And as we embark new levels in bitcoin, definitely, it will gain huge interest from viewers.
However, they should take note that getting into crypto is not a get-rich-quick scheme here.
There's more than meets the eyes here. Because a lot of newcomers thought that this is their way to get their riches.

[blockman]

It is on different news mainstream media. They're all making discussions about it and with the UK's FCA's words, they can't stop taking it on their screen time and start discussing it.
My thought on it is that there could be a bigger whale that's interested to get in and buying all of those discounted bitcoins today.

[Renampun]

we will always hear analysis that wasted time when the Bitcoin boom...
this forum is the best place to read analysis on the price of Bitcoin from lovers and those who focus on Bitcoin *not a general analysis that never focuses on Bitcoin.