Mainstream media sentiment shifts in favor of Bitcoin amid fiat currency woes

Mainstream media sentiment shifts in favor of Bitcoin amid fiat currency woes
Comments Off on Mainstream media sentiment shifts in favor of Bitcoin amid fiat currency woes, 02/10/2022, by , in Cryptocurrency
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In spite of USD bringing an onslaught to stocks, commodities and its rival currencies, Bitcoin (BTC) retains constant at the $19,000 to $20,000 mark, leaving mainstream media no alternative but to set BTC into the headlines.

American daily newspaper The New York Situations highlighted BTC’s 6.5% enhance in the last seven times and mentioned that this experienced caught the notice of crypto bulls and bears. Meanwhile, Fortune Magazine’s crypto outlet has also in contrast Bitcoin’s standout general performance to other property like the Japanese yen, Chinese yuan and gold, apart from the euro and pound.

With fiat currencies like the euro and the Fantastic British pound sterling failing to keep their ground versus the United States greenback (USD), mainstream media retailers have began to place Bitcoin (BTC) into the spotlight for its constant functionality. 

Resource: moneymorning.com.au

On the other hand, the media outlet Proactive described in their headline that it may perhaps be “time to place almost everything on Bitcoin.” Regardless of brushing the headline as sarcasm in just the content material of the posting, the creator highlighted that a vast majority of institutional traders are looking to put an conclude to the recent crypto winter. 

Meanwhile, the Australian news site information.com.au has highlighted specialists talking positively on Bitcoin and blockchain’s use circumstances. Some experts even predicted that the BTC price could possibly sooner or later hit a new all-time significant of $100,000.

Similar: Crypto baffles mainstream media, but really should blockchain advocates treatment?

Meanwhile, as the British pound strike a new all-time low versus the US dollar, Bitcoin’s restricted provide could perhaps give it an gain from the pound. In accordance to the finance site Porkopolis Economics, the issuance fee of the pound has been 11.2% per year because 1970 even though BTC has a fee of 1.7%. This gives BTC a considerably lower supply issuance and this could perhaps widen the gap amongst the two currencies.

Bitcoin’s price tag is not the only crypto scoop that built it to the mainstream media spotlight recently. Before in September, mainstream media stores also set their sights on Ethereum and its latest transition to a evidence-of-stake (PoS) consensus mechanism.

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About Vikram Rout

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