SOCIAL MEDIA AND NEGATIVE NEWS ABOUT CRYPTOCURRENCY
One of the bits of advice you will get from a business expert is to keep your ears open to the trending news. As a Bitcoin entrepreneur, you need to know what is happening in your niche so as to develop your survival tactics. This news is an essential aspect of a business. However, all news is not credible. Some people use the negative news as a way of beating competitors or discouraging others from venturing on the field.
In this essence, when negative news about the Bitcoins is disseminated either through online or media channels, definitely, their prices show a downward trend. For instance, news about China banning Bitcoins, online frauds that led to the theft of millions worth Bitcoins, and negative advisories that referred the coins as timed bubble or Ponzi scheme has had a negative impact on the Bitcoin prices.
Nevertheless, the same news can work miracles in the long run when people realize the reality of it. Why? The negative news attracts a large audience which in turn popularizes the Bitcoin. As such, it stimulates high demand in the long run.