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The slew of FUD from mainstream media has reached a crescendo. Salacious headlines announcing the death of crypto unfolded over the weekend, but we’ve seen it all before.

The collapse of the FTX exchange and Sam Bankman-Fried’s crypto empire has made global news. The mainstream media loves nothing more than attacking the crypto industry, and now they have more ammunition than ever.

Late last week, the generally balanced Financial Times published “Let crypto burn,” with a nice image of a fire. The article said that instead of trying to regulate the industry, “it’s much better to do nothing and let crypto burn.”

The Crypto FUD Fest continues

“Is this the end of crypto?” That was the headline of an Economist article late last week. Again, the salacious reports blamed an entire industry for one person’s irresponsible actions.

“Never before has crypto seemed so criminal, wasteful and pointless.”

Yahoo! Finances have picked up comments infamous Bitcoin detractor Peter Schiff at week-end. It’s not crypto winter“it’s the extinction of crypto,” he wrote in a Tweet that the outlet deemed post-worthy.

Schiff, who has criticized Bitcoin since it was trading at $100, still thinks it will go to zero.

The bashing of the mainstream media is nothing new. A slew of equally damning headlines spewed out during the previous crypto winter, when markets lost over 80%.

99Bitcoins reports that Bitcoin has been declared “dead” 466 times. It’s actually more than that considering these recent headlines.

Bitcoin has been declared dead 47 times in 2021 and has had at least 26 “deaths” this year. One thing is guaranteed, there will be more claims like this before the end of the year.

Markets take a beating

Perhaps due to the torrent of mainstream media FUD, the markets are down again this Monday morning.

The total market capitalization has lost just under 5% in the past 24 hours. That sent it back to the previous cycle low of $830 billion. Coincidentally, this is the same number as the peak of the cycle in 2018.

Bitcoin and Ethereum are both down sharply at press time.


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