If you have been following cryptocurrency for a while you likely know that there has been a disdain for Bitcoin in the news and in the limited coverage that it has received over the last 5 years.
For a very long time it seemed to me that the media was trying to keep people from buying into bitcoin by conflating it with drugs, crime, and money laundering. They also seemed to report on any misfortune that Bitcoin went through. It seems like every hack and every criminal case that involved Bitcoin was reported on, but every positive story was left out.
Throughout the course of the last few months I have noticed a significant shift of attitude when it comes to the coverage that crypto has been receiving. It seems as if the stories are becoming more and more positive and there are more and more huge successes singing Bitcoin's praises as of late. This type of reporting is sure to help drive the price of Bitcoin up considering it will increase the demand compared to prior stories which hindered the demand.
Below is a timeline of some of the major Bitcoin stories that were reported on in the past, and this will be followed up with a list of Bitcoin's current supporters and current stories that have been in the mainstream media. I will finish with my price prediction for Bitcoin in late 2017-2018!
A story from PC World about Bitcoin was really the only major news I saw from 2010. Even though it was more informative than negative, I still thought it was interesting to see one of the first big Bitcoin articles.
"So, That's the end of Bitcoin Then"- Forbes
https://www.forbes.com/sites/timworstall/2011/06/20/so-thats-the-end-of-bitcoin-then/#64b746275d71
"Bitcoin: The First $500,000 Theft"- Forbes
https://www.forbes.com/sites/timworstall/2011/06/17/bitcoin-the-first-500000-theft/#3f2085c229b3
"Bitcoins: Does an Internet Currency Mean the Doom of the Dollar?"- Time Magazine
http://business.time.com/2011/06/29/bitcoins-does-an-internet-currency-mean-the-doom-of-the-dollar/
"FBI Fears Bitcoin's Popularity with Criminals"- Wired
https://www.wired.com/2012/05/fbi-fears-bitcoin/
"Bitcoin Exchange BitFloor to Suspend Operations after $250,000 Bitcoin Theft"- The Verge
https://www.theverge.com/2012/9/5/3293375/bitfloor-bitcoin-exchange-suspended-theft
"FBI Claims Largest Bitcoin Seizure After Arrest of Alleged Silk Road Founder"- The Guardian
"Fools Gold" | "Bitcoin is a Ponzi Scheme"- Slate
"Don't Get Bitten by Bitcoins"- CNN
http://www.cnn.com/2013/04/11/opinion/angel-bitcoin-currency/index.html
"Apparent Theft at MtGox Shakes the World"- New York Times
https://www.nytimes.com/2014/02/25/business/apparent-theft-at-mt-gox-shakes-bitcoin-world.html
"Man called 'Bitcoin's Father' denies ties"- Reuters
"Bitcoin Firm CEO Found Dead After Suicide"- New York Post
http://nypost.com/2014/03/05/bitcoin-firm-ceo-found-dead-in-suspected-suicide/
"IRS: Bitcoin Not Currency"- USA Today
https://www.usatoday.com/story/money/business/2014/03/25/irs-says-bitcoin-is-property/6873569/
"Mt. Gox Bitcoin Chief Arrested in Japan"
http://www.bbc.com/news/world-asia-33745611
"Without Drugs, What's the Point of Bitcoin?"- The Atlantic
"Hackers Steal $5 Million from Major Bitcoin Exchange"-
http://fortune.com/2015/01/05/bitstamp-bitcoin-freeze-hack/
"Bitcoin Worth $78m Stolen from Bitfinex Exchange in Hong Kong"- The Guardian
https://www.theguardian.com/technology/2016/aug/03/bitcoin-stolen-bitfinex-exchange-hong-kong
"The San Fransisco Subway Hacker Demanded Ransom in Bitcoin"- Popular Mechanics
http://www.popularmechanics.com/technology/infrastructure/a24066/hacked-san-francisco-fare-systems/
"Theft and Mayhem in the Bitcoin World"- Forbes
"A New Digital Currency is About to be Created as the Bitcoin Blockchain is Split in 2"- CNBC
"Jamie Dimon Slams Bitcoin as a Fraud"- Bloomberg
"Bitcoin Price Soars, Fueled by Speculation and Global Currency Turmoil"- New York Times
"Bitcoin Fraud Suspect Vinnik Charged by US Grand Jury"- BBC
http://www.bbc.com/news/world-europe-40731200
"Bitcoin Price could be Headed to $6,000 by year-end, but brace for volatility"- CNBC
https://www.cnbc.com/2017/10/03/bitcoin-price-heading-to-6000-brace-for-volatility-fork.html
"Bitcoin: Is it a Fraud or is it the Future of Currency?"- Forbes
"American Billionaire Investor Mark Cuban Claims Crytocurrencies and Blockchain are Future"- CoinTelegraph
"Bitcoin may soon be a 'rational, expected' part of portfolio"- CNBC
"Dimon Called Bitcoin a Fraud but JPMorgan is Citing Prices"- Bloomberg
"Bitcoin: The Case for the $10,000 Coin"- Forbes
CNBC has even just launched a Crypto segment for their television and Facebook page.
As you can see, the tone has certainly changed. There has been a paradigm shift and there is no looking back for Bitcoin or crypto in general.
People like Mark Cuban, who just claimed Bitcoin to be a bubble a few months ago, are now investing into Bitcoin and other Blockchain-based investments! It is an exciting time for crypto and I cannot wait to see what the future holds.
Here is a video of all 3 of the mentioned billionaires above with many more bullish expert opinions on Bitcoin:
Over this year, Bitcoin has rallied to an all time high of over $5,000. It has remained very solid and kept it's impressive market cap through the Segwit split, China banning ICO's, China banning exchanges, and countless Billionaires/Wall Street hacks claiming it to be valueless. This shows a great improvement from the last few years, and the price has consistently been much less volatile than times in the past.
I think Bitcoin will slowly rally from the current $4300-4400 mark up to the $5000-5500 range. I believe this boost in price will lead all the way up to the $6500-7000 sometime before the end of the year. I think there will definitely be some extreme volatility moving forward, but nothing will stop Bitcoin from rising further and further throughout the next few years. The next big date to watch is October 25th of this year. Bitcoin Gold will be released then and it is similar to the Bitcoin Cash split. Watch for extreme volatility during the 23rd-27th of October.
I think that 2018 will be the biggest year for Bitcoin and cryptocurrency in general. Once a huge financial powerhouse like Goldman Sach's jumps on board the Bitcoin train, everyone else will fall in line and follow the trend to the moon.
I think Bitcoin will reach vastly higher numbers in 2018 than most expect, and while I don't have any specific dates, I would be highly surprised if Bitcoin doesn't hit $20,000-$25,000 by the end of year 2018. I wouldn't even be too shocked to see a temporary spike to somewhere around the $50,000 before a correction settled back to $20-25k. Much of this is dependent on how many big fish jump in and how soon. The big money will be coming into crypto soon, and it may be much sooner than many think!
I hope you enjoyed the content! Follow for more news, predictions, and all things crypto!
To the moon,
P.S. - Check out my Bitcoin Price Prediction from Friday 9-7-17
@bwells