MSM Admits That ‘Bitcoin’s Back’ And Web3 Heads To Davos
Last Updated on 17 January 2023 by CryptoTips.eu
The World Economic Forum will be the focus point of worldwide media this week as the billionaires, state leaders and CEOs head back to the Alpine resort of Davos, Switzerland after a 2 year hiatus. Although you could think that Bitcoin and crypto would be absent, they are apparently more present than ever.
Surprise rally
Crypto is introduced in the form of many Web3 companies that are developing exciting new tech for the world’s richest to invest in and the mainstream media is showing them that ‘Bitcoin’s Back’ (as Bloomberg pointed out on 16 January 2023).
The MSM (mainstream media) couldn’t stop laughing at crypto’s demise in 2022. At the start of 2023 though, their tune has changed (at least for the time being) and some even had to admit that Bitcoin could be back on the table as an acceptable investment.
Bloomberg stated that:
The token’s advance so far is the best for the opening month of a year since a 31% rally in 2020 before the pandemic hit.
Fortune is already asking whether the ‘surprise rally’ can last and admits that it’s a clear breakout from the small trading range it was stuck in for the past month.
Marketwatch, another major business media outlet asked over the weekend whether the crypto bear market is now over (probably a bit too soon to conclude this).
Of course, given that the MSM is now informing everyone that Bitcoin has climbed quite a bit in January, the risk of seeing profit taking by short term investors is getting higher.
palinchak / Depositphotos.com
