World press rediscovers Bitcoin and talks about a Bitcoin comeback
Last Updated on 7 March 2024 by CryptoTips.eu
Bitcoin briefly touched $69,000 on Tuesday, just before plummeting in a now classic ‘flash crash’. All those who were new to investing in crypto received a welcome in style from the largest digital currency.
The world press, which despised Bitcoin and crypto back in 2022, now calls it an ‘incredible comeback’. A brief overview.
Bitcoin record and comeback in 2024
The New York Times, whose columnist Paul Krugman is a true Bitcoin basher, admitted it was nothing short of a ‘stunning comeback’ and was not only critical towards crypto but even interviewed a fan.
“This is just the beginning of this bull market,” explained Nathan McCauley, chief executive of crypto company Anchorage Digital.“The best is yet to come.”
The Financial Times, the biggest European business newspaper, admitted that even classic investors are starting to notice because Luca Paolini, chief strategist at Pictet Asset Management, was quoted as saying:
“We have to ask the question of whether we’re missing something big or not. The environment we’re in now is very different from a couple of years ago when we were clearly in bubble territory.”
The BBC website, not really crypto’s biggest fan, admitted that it was mainly companies on Wall Street that had invested billions into Bitcoin recently. Just like the NY Times the tone of their reporting was rather negative, but at least they interviewed Carol Alexander, professor of finance at Sussex University, who said the Bitcoin price could go higher than its new record but warned that crypto was “notoriously volatile.”
“Too often in the past the price crash was timed so that ordinary investors buying Bitcoin during the bubble are the ones who lose out,”
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The Guardian talked to James Knightley, chief international economist at the banking group ING, who claimed:
“Risk appetite has also soared in recent weeks with tech stocks fuelling the sense of Fomo [fear of missing out] in markets and I think bitcoin is being swept along in all of this.”
CNN finally warned that Bitcoin usually sets a new all time high after the halving, and not before, so Antoni Trenchev, co-founder of crypto lender Nexo Capital concluded that:
This could mean we are facing an earlier, sharper and shorter bull cycle.
