The publication explores whether Bitcoin will become the new gold standard.
Newsweek, one of the largest weekly American news magazines, has put a positive spin on Bitcoin (BTC) in a recent article exploring whether digital assets can become the new gold standard.
The article, which appeared on Wednesday, dissects the digital gold narrative using JPMorgan’s latest model that shows a potential BTC price of $146,000. Although the article presents little new information for the cryptomone enthusiasts who have been recording The News Spy meteoric rise it provides more validation that the main narrative surrounding cryptomone has changed.
“All that glitters is not gold, but it could be Bitcoin,” wrote Scott Reeves. “And in the long run, it could be more valuable.
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That’s the message that appeared before Newsweek readers, numbering in the tens of millions, many of whom have never been exposed to Bitcoin.
Earlier this week, Bitcoin appeared on the front page of the Financial Times, on the 12th anniversary of the Genesis Block no less, offering more proof that the mainstream can no longer ignore BTC.
Meanwhile, more investors are flooding into the market, as shown by the sharp increase in active management and the growing interest of major corporations and institutions.
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New users are entering Bitcoin on a long-term basis, possibly for the next three to five years at least, according to podcaster Peter McCormack. Sonny Singh, BitPay’s commercial director, shares this sentiment, but recently argued that another increase in the price of BTC could lead to institutional benefits.
Google search trends suggest that FOMO, or the fear of missing out on profits, is soaring in the new year, which could be a precursor to rising prices in the short term.
Google searches for the word “Bitcoin” in the United States
Searches for the word “Bitcoin” were quiet during last year’s upward trend compared to the 2017 bull market. Again, this suggests that the less resilient Bitcoin path may be higher.
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It remains to be seen whether retailers’ understanding of Bitcoin is improving, or whether people are paying attention simply because of price appreciation. In either case, Bitcoin’s value proposition is no longer relegated to the dark, esoteric corners of the Internet.