Did you hear that bitcoin’s dead? Or how about the new coin that’s going to be the next ethereum? Also, there’s this cryptocurrency called verge that experts are tipping to make huge gains this year. And let’s not forget ripple either. You should totally load up on $3 ripple.
Navigating the cryptocurrency landscape is tricky enough for experienced heads. But for the general public, who take their news from traditional media outlets, the situation is far worse. Hopelessly misinformed reporting and PR puff pieces published as ‘news’ have left the public more clueless than ever.
As bitcoin reached record highs in December, the mainstream coverage grew to a crescendo. Suddenly everyone from mom to the metaphorical shoeshine boy had an opinion on cryptocurrency as the masses wired their deposits to Coinbase to get some skin in the game. When the markets started to fall in January, these new adopters got burned the worst. Many were stunned to see their rapidly diminishing portfolios, and a number quit altogether, electing to sell at a loss rather than endure more financial agony.