December 5, 2022

Sentiments Of Mainstream Media Have Shifted In Support Of Bitcoin As Fiat Currencies Falter

In recent months, commodities, stocks, and forex have suffered tremendously due to the global economic downfall. Despite the dips in the traditional markets, the rival of these trades “Bitcoin” has managed to perform well.

Bitcoin has Remained Steady

Despite the global market downfalls, the trading price of Bitcoin has continued hovering between particular ranges. These ranges are the $19,000 and the $20,000 levels that are considered high and low for Bitcoin given the current market circumstances.

As Bitcoin has remained resilient against market downtrends, the mainstream media has got no option but to praise its performance.

The mainstream media is now talking about the performance of Bitcoin during the downtrend. Bitcoin has been praised so much that it has earned a spot in the headlines.

Past 7-Day Performance of Bitcoin

In the past 7-days, the trading price of Bitcoin has not moved in the negative direction. Instead, the trading price of Bitcoin has recorded an uptrend.

The data shows that its value has surged by 6.5% in the past 7-days, which is a highlight for Bitcoin amidst the global market lowlights.

Due to its recent performance, Bitcoin has managed to catch the attention of both the bears and the bulls. Even institutional investors have started taking notice of Bitcoin amidst the constant inflation and the weaker trading markets.

Its value and presence have remained somewhat stable and unchanged during the downtrend against all major trades. Therefore, traders from all sorts of trades are attracted to Bitcoin and may start investing in it in the upcoming days.

EUR & GBP Lose their Grounds

Things have not been too well for the GBP and EUR fiat currencies lately. They have witnessed huge dips in their values in recent months and the situation is getting worse.

Each month, more and more negative data is coming in from their economies. The negative data is impacting the European and British economies very badly.

Investors from these countries and regions are now moving to other assets they consider to hedge against market inflation. Therefore, the demand and adoption for Bitcoin are rising and they may continue rising in near future.

Mainstream Media is Supporting Bitcoin

The mainstream media has even started to talk in favor of Bitcoin. One of the media outlets “Proactive” even went on to make a headline that said that it was time to put everything into the largest cryptocurrency.

Based on the above input from the mainstream media and the institutional investors’ interest growing, things look promising for Bitcoin. There are now chances that Bitcoin may become the number one investment choice for investors.

If that happens, then the analysts’ prediction just might come true where they predicted Bitcoin may rise to $100,000.