Is the FUD starting to wear off?

[Jeeny43]

As China bans bitcoin again while India unbans bitcoin again, this is getting played out. The energy consumption FUD is tired BS. The tweets, the misinformed articles, media FUD, etc. This is all getting boring. The fundamentals haven't changed, and the manipulation is getting boring. Seems like every rally, the same boring FUD comes in and scares the newest wave of recent buyers. It's cool if you bought within these recent few months, but stop fucking panic selling and wait for fuck sake. Don't like the current price, wait. Not giving you a good profit, wait. Fucking hold and wait.

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[pooya87]

The main FUD campaign stopped about 10 days ago when price reached the bottom @$30k and market could not be manipulated more than that. What we've been seeing ever since is newbie FUDsters who think they are spreading FUD but all they do is being annoying.

The crash itself is annoying to see but it is a good thing for the market at the same time. It both provides a golden opportunity to everyone to buy bitcoin at a discount and also it acts like a market cleanse where the weak hands are being removed from the bitcoin market which would then solidify the next rise.

[bbc.reporter]

@pooya87. The was only clearly waiting to happen knowing how much leverage took bitcoin to its new all time high.

@Jeeny43. Yes it appears the sensationalized fud from mainstream news and bitcoin news media is losing its effect. Let us wait for updates after Chinese officials meet in Sichuan on June 2 and further announcements from Beijing on June 4.

This article is from Okex and tells the real story. China did not ban bitcoin, however, it will make policy changes to discourage excessive speculation and control carbon emission.



Here’s the real fact based news. China issued a notice last Friday from the State Council, which aims to clampdown on crypto exchanges and mining, mainly due to potential risks for consumers and society in China.

A few days prior to the State Council notice, the China Internet Finance Association warned the public about the risks of investing in cryptocurrencies, listing four specific issues with cryptos they want to address:

Institutions should understand the nature of Bitcoin and digital currencies.

Financial institutions should not engage in crypto-related business transactions.

China does not offer legal protection for crypto-related investment contracts.

Financial institutions should abide by existing regulations regarding digital currencies.

Due to the State Council notice, some miners have decided to look elsewhere for mining in the interim until the notice is enforced. In addition, exchanges such as OKEx have scaled back some services and products offered to Chinese nationals only. Any changes due to this notice are not impacting non-Chinese nationals, and will only affect users who reside in China and use the Chinese currency renminbi.

Source https://medium.com/okex-blog/no-china-didnt-ban-bitcoin-and-cryptocurrencies-815d58ef5134

[mk4]

FUD has always been really old knowing that most(if not all) of the Bitcoin FUD has almost always been just rehashed versions of the older FUDs. But of course, there will always be people that will be affected by these FUD. Mostly the beginners that don't even do the slightest amount of research.

[bbc.reporter]

@mk4. Agreed. However, if you do the research and check some of the news media’s sources, you would see that there is some basis for the news. But what the news media is also doing is add some exaggeration and sometimes misreport the news to make it appear more than what the news really was to clickbait the readers.

Read the article from Okex. That is the real news. There will be policy changes in China but it is not targetted towards bitcoin.

[mk4]

@mk4. Agreed. However, if you do the research and check some of the news media’s sources, you would see that there is some basis for the news. But what the news media is also doing is add some exaggeration and sometimes misreport the news to make it appear more than what the news really was to clickbait the readers.

Read the article from Okex. That is the real news. There will be policy changes in China but it is not targetted towards bitcoin.

FUD doesn't necessarily mean that there isn't any basis or that the news isn't factual; it's just mostly unnecessarily overblown, exaggerated(as you said), and a lot of times even straight-off misleading. To the point that it isn't even conspiratorial to think that there's likely to be a hidden agenda behind those unnecessarily uber-negative news. But then again, pushing fear towards readers does get a lot of clicks and shares, so there's that.

[Joshua01]

Short answer is yes (in my opinion)

The fud didn't "wear on" for seasoned investors but BTC is always attracting new people to it and they have to go through the same trial by fire as everyone else. The attacks on btc will never stop. People just need to develop some trust in the concept of bitcoin and then they will fear no fud.

I sold half my stack the first time I heard BTC was being banned in China... and wound up buying back in.... I learned the hard way the best way to win is to pretend the sell button doesn't exist.

[slaman29]

Well we all have seen how tired BS can get recycled, often several times in a rally cycle, so I would expect there are going to be more discussions about it until end of the year before they move on to other things maybe like mining decentralization etc.

It's definitely super boring but by now time to accept this boring cycle is going to resume again at some point.

Same as tweet mania and fomo.

[Poker Player]

It's definitely super boring but by now time to accept this boring cycle is going to resume again at some point.

It is boring because we are not used to it. A 3% rise in a blue chip in one day is a very good session while in Bitcoin it's boring. We are coming off a season of beating ath after ath, which is exciting but very rarely seen in the investment world. If you find this time in Bitcoin boring you will find almost anything investing boring.

Regarding what the OP raises, yes I think you have stated to wear off, but at the slightest it will reappear.

[raidarksword]

Don't mind the FUD now because bitcoin cannot be stop no matter what, there were many FUDs few years back still bitcoin continues to slap haters faces as it stood it's ground and proving haters and fudders wrong. I must say that the FUD slowly gone as the new opening month was really a good start for the crypto market to recover sooner and with that I believed bullish season continues.

[zanezane]

I don't think so because FUD will always be there, look at the prices when it was around it's highest, people are still spreading FUD because everyone tries to manipulate the market into their likeness, they want to have their ego always fed so they do what they have to do.

[Ronny29]

I don't think so because FUD will always be there, look at the prices when it was around it's highest, people are still spreading FUD because everyone tries to manipulate the market into their likeness, they want to have their ego always fed so they do what they have to do.

It’s easier to control mass if you keep it scared.

[Wexnident]

Hey, that's how they want things to go. Not like they'd give a damn on how you see their FUD, if it makes the market move, then they'd do it. That's p much it. Yes, the initial FUD is over, and together with the correction was the one that brought BTC back to below $35k or so, and that'd be pretty much it. Any FUD news now would just have some kind of low influence in the market since it is trying to stabilize itself at it's the current level. Highly doubt people would also panic sell again after it calmed down already.

[boyptc]

As China bans bitcoin again while India unbans bitcoin again, this is getting played out. The energy consumption FUD is tired BS. The tweets, the misinformed articles, media FUD, etc. This is all getting boring. The fundamentals haven't changed, and the manipulation is getting boring. Seems like every rally, the same boring FUD comes in and scares the newest wave of recent buyers. It's cool if you bought within these recent few months, but stop fucking panic selling and wait for fuck sake. Don't like the current price, wait. Not giving you a good profit, wait. Fucking hold and wait.

It's not boring.

Actually, it's much better that there's enlighten that these medias were all bias towards bitcoin. They're only making those news for their own gains and that's why it's better to have that clarity than to keep misinformed.

Well, it's all good that India got now a clarification towards the ban of bitcoin on their country.

[bakasabo]

Was it really FUD or just a correction? I think that people are now used to all these price changes and not longer react so sharply on drops. Only people new to crypto are prone to panic. Those who have caught drop from $20k to $4k are now fully resistant to $60k to $37k decline.
I just caught myself not even reading crypto news, that can impact on the price negatively. I just read what new is released and what is updated.

[Zilon]

We can't combact FUD it must certainly set in but it takes true investors to over look the way and hodl on to their asset even while their coin dips down it's even a perfect time to buy more but it's not always easy because human emotions is very delicate and requires extreme dicipline to manage. But it would be better to hodl in this period because once the market retraces back it would be a huge profit for all investors

[Nunoluck]

Holding btc rather than sell it now is the best way to avoid financial loss. But it seems that many new bitcoin users are afraid too much, they should know what they bought. Most of us already know that bitcoin market is extremely volatility, it doesn't mean that if Bitcoin price fall then it will not rise again. I hope people who starting to invest in btc learn about what is btc and how the market works. I personally take higher risk now by don't buy bitcoin at this time, my instinct said that there is a bull trap. I don't know whether it is right or not but based on my predictions I think the price of bitcoin must be reach lower than 30k during this bear market. But I am not an expert, maybe I am wrong.

[ilovealtcoins]

The biggest FUD I've experienced before was Bitcoin being banned by China in 2017 and recession in 2020. Twice has dragged Bitcoin down badly. This FUD is similar to 2017 so I don't worry too much. There have been dozens of bad news since Bitcoin launched, but Bitcoin continues to go up. Another thing is that the long-term crypto market participants are no longer afraid because they have gained experience.

[Smartvirus]

I think experience and faith in the system determines as to how long your perception from the FUD thrown to you by the various constraints of the system would last. At the moment,  we've seen bitcoin and altcoin price fall to almost half its original price. I don't expect any other fall below the $30k zone. Investors were looking out for a dip and thats just about it. No news or tweet what so ever would have any further effect on the cryptocurrency market because, the fud is very much over and what is being anticipated for at the moment is when would the next bullrun start. I see bulls getting stronger in there positions and crypto enthusiast lost faith in Elon Musk so, there is just about a few things that could promote any form of fun in the system now. We going back to our old ways.

[Oasisman]

Was it really FUD or just a correction? I think that people are now used to all these price changes and not longer react so sharply on drops. Only people new to crypto are prone to panic. Those who have caught drop from $20k to $4k are now fully resistant to $60k to $37k decline.
I just caught myself not even reading crypto news, that can impact on the price negatively. I just read what new is released and what is updated.

Spreading FUD during the correction, that's the perfect way to say it.
FUDsters were targeting weak hands. Not only those new investors. If you're reading crypto news all over the internet, you'll probably find more FUD over there. Not unless, If you have a more reliable source that you visit regularly.
The more experienced you are in crypto space, the more immune you are with the FUD.