The price of Bitcoin is just above the $700 USD range with the current value at $703 at the time of this writing. It’s interesting to see that many people are very excited, and people are anticipating the upcoming halving with great enthusiasm. One thing is for sure mainstream media has been awfully quiet during this particular price spike. Mainstream media has no problem dedicating it’s time to covering the technology behind Bitcoin called the Blockchain. They also don’t mind letting everyone know the cryptocurrency will soon be dead and give Mike Hearn the spotlight to let us all know. In 2014, Bloomberg told the world that Bitcoin was the year’s worst currency in the world seemingly trying to rub in the bearish downturn. Now the news publication after waiting many days has decided to report on the upswing and most mainstream outlets still have their lips sealed. In Bloomberg’s latest write up the author points directly at the halving theory and ultimately believes this is the reason for Bitcoin’s rise. The publication states: “Bitcoin surged to a two-year high amid expectations supply of the digital currency will shrink next month.” Other than that specific editorial every other finance publication has been in silence and has yet to cover the story. This is quite the contrast to when the rise had begun in 2013 as many news outlets reported on the increase but at the same time was predicting Bitcoin’s demise. Today the currency is being seen as a new asset class by many investors and devaluation of the yuan is scaring Chinese citizens. One safeguard available for them and many other countries has been Bitcoin and volume within Chinese borders has been exponential the past two weeks. Eyes in media-land may be focused on the overall tanking global […]
