Don’t Buy the Hype With Cryptocurrency

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Cryptocurrency has sparked a financial revolution in the past year, with many individuals deciding to get into the space for a myriad of reasons. Critics have been stating that the market is run only by hype and speculation but it is clear that that is not true. One approach that many investors have chosen to use uses a method known as anti-hype. This works by using different angles on news to present a different story about the outcome.

This happened recently with the popular cryptocurrency known as Ethereum. Ethereum has been using this anti-hype machine for quite some time. The coin managed to move from second place to third based on market capitalization recently. This would not have been a big deal for the coin, but it used it to its advantage. Instead of spreading negative news, the coin managed to put out information showing that they have a large amount of power in the cryptocurrency world, and continued to talk up the cryptocurrency on many different news outlets.

The founder of Litecoin recently announced that he was liquidating all of his assets in the coin. This news saw the price of the currency drop very steeply as many speculative traders thought that this was quite a bad sign for the currency. The true intention of putting out this information was to show that he does not want to have an influence on the price of the coin, and would rather let the market stipulate the price of the coin. These stories are only a few of many. This method of anti-hype continues to fuel the very market that it is attempting to break free of. The hopes are high that the cryptocurrency world can stabilize in the coming year and begin to transform into a viable currency for real world use.

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