What is Bitcoin looking for?
The value of Bitcoin, which is one of the leading cryptocurrencies, is determined according to the last Bitcoin transaction made on the stock exchanges. The changing demand day by day has a great impact on this issue. In other words, the displacement of the opportunity and pressure balances in the buying and selling channels has a direct effect on the value of Bitcoin. If the pressure finds support on the buying side, an increase in prices is expected, while it would be correct to say the opposite for the selling side. There are multiple factors that affect the value of demand.
The media can affect the value of Bitcoin either positively or negatively. In cases where the news creates uncertainty, fear and/or suspicion on users, an atmosphere of panic may occur and selling pressure may increase, leading to a decrease in Bitcoin value. To date, the value of Bitcoin has decreased approximately 400 times due to the media effect. The media effect can create an atmosphere of panic and selling pressure, as well as positively affect the markets and increase the value of Bitcoin. The news may allow Bitcoin to spread to a wider audience, leading to an increase in buy orders and an increase in Bitcoin value.