MSM Prematurely Says Crypto Crash As Bitcoin Recovers To $37k

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Last Updated on 26 January 2022 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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When I used to write for US and Australian blogging sites, there was a standard phrase we had whenever the stock market lost a few percentage points and people around the world searching for alternative news needed to be informed.

The phrase was ‘cue stressed trader’ and refers to stock pictures you can take from any major search website. The term ‘stressed trader’ stands for any boomer trader looking at a red screen on the floor of the German, American or French stock exchange. Just as it is easy to predict ‘cue stressed trader’ pictures on the front pages of all business newspapers whenever the Nasdaq goes into a correction (meaning it fell 10% from its top), it is even easier to predict that the MSM (mainstream media) will scream crypto crash when Bitcoin loses 50% from its top.

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Same as May 2021

Strangely enough, the move that Bitcoin made from November 2021 until January 2022 ($69,000 to $35,000) is the same it did in May of 2021 as well, when it dropped from $63,000 to $30,000 (in ten days only according to popular crypto analysts).

Anyone with a search bar and a few newspaper subscriptions will know that Forbes (whose article ‘Bitcoin crash of 2022’ could come back to slap them in the face), Euronews, the Wall Street Journal, Fortune and Yahoo Finance all screamed crypto crash back then as well.

This week was no different as Bitcoin and other cryptocurrencies were forced to follow tech stocks down as risk investors decided to take their chips off the table.

Barron’s, another dinosaur publication of classic banking, took the top prize though, for their article claiming that the real floor for Bitcoin is zero.

At the time of writing, Bitcoin has recovered slightly and is trading at around $37,800, up 4% for the last 24 hours at the time of writing. As Zerohedge pointed out earlier, the 2018 and 2020 stock market bottoms were each time started after an expiration Friday, which in January was last Friday.

So, for the next few days, cue happy trader perhaps? Too soon to tell, just as the death of crypto is probably also premature. The floor can go lower for Bitcoin, I’ll admit that, but zero by now seems impossible.