Clovr: negative crypto media coverage influence prices

The startup Clovr aimed to bolster distributed ledger technology adoption published a research into the bias the mainstream mass-media have when they write about cryptocurrencies. The paper covered 7,500 crypto-related pieces appeared in 48 US and global media outlets. The paper has found that mainstream media neglected crypto issues until 2017 year when Bitcoin manifested excellent performance skyrocketing to the all-time-high in last December.

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When media told about Bitcoin in times before 2017 year they flirted with such topic in rather good way but in 2017 year the tone changed to neutral one in the beginning of last year. When Bitcoin approached the midst of the year mainstream media started reflecting the jealousy arisen in Wall-Street circles since that people started experiencing feeling that they may miss clients from investment into traditional investments such as stock and bonds and lose the competition to cryptocurrencies.

The conservative media oriented to the well established values and the preservation of current middle class demonstrated extremely negative view towards Bitcoin (88% of all posted articles in such media outlets). The Bitcoin downward trend this year was accompanied by the surge in the articles appeared in the mainstream media. It seems that this huge amount of crypto pieces had accelerating impact on downward movement of the market enforcing such trend.

2018-12-03T17:38:17+00:00 4 December 2018|Tags: , |0 Comments

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