Does today's 5% BTC drop represent an actual threat to safe haven?


New Member
...Or is it just a media panic?
Today was a big day in Bitcoin news, with media reports from Business Insider, Forbes, and other sources busting out the "end is nigh" language. Some speculated that today's drop spells major trouble for Bitcoin, and others took the news a step further implying this is the beginning of a crypto crash. While the major outlets focused on Bitcoin's 5% drop, other cryptocurrencies were hit even harder. Etherium, for instance, dropped by 10%. Three separate major outlets asserted that the decline hot on the heels of the stock market's recent drop indicate Bitcoin may not be the "safe haven" many of us hope for.

Do you buy this argument? Why or why not? What trends in the coverage of Bitcoin have you noticed? How seriously do you take major media analysis?

We've noticed a lot of these stories are set up like clickbait, but lacking significantly in the fact-checking department. This article from Bitcoin News highlights some of the inaccuracies in today's other major BTC story: the Senate testimony from an economist with academic credentials, but lacking significant crypto experience/credentials. Nonetheless, this was front page news across several reputable financial news outlets. Interested in hearing everyone's thoughts on these issues. Thanks!