The buzz around cryptocurrencies
Cryptocurrencies are generating increasing buzz beyond just the news related to the WannaCry Ransomware attack, which prompted a slight drop in the price of Bitcoin on 12 May 2017. According to TechCrunch, instability is one of the main reasons preventing cryptocurrencies from mass adoption. Interest in cryptocurrencies grows exponentially, they seem to be attracting investments and a lot of interest from casual investors as well as from people who do not want to miss out on the opportunity.
The overall interest in cryptocurrencies reflects in the exponentially rising numbers of news mentions demonstrated in the timeline of articles below.
Bitcoin is the oldest decentralised cryptocurrency, been released in 2009. Its popularity has been on the rise ever since an unknown programmer or a group of programmers under the name Satoshi Nakamoto created it as “A Peer-to-Peer Electronic Cash System”. Following a slight drop in the price recently, a bitcoin is currently worth around US$ 2,350.
The history of Bitcoin – identifying major events
The GIF below shows how to search for events about Bitcoin. From the timeline, we can spot spikes in the number of events (groups of articles which talk about the same happening) talking about Bitcoin over time.
Performing this search involves limiting results to a minimum of 20 articles for an event to eliminate smaller (less important) ones from the timeline. By scrolling over a certain bar on a chart we are able to see how many events were published on a specific day. Clicking on the bar opens a set of events for the selected date.
The timeline displays a history of reporting about Bitcoin. Browsing events and examining the articles which form them gives us an overview of titles such as:
- Silk Road 2.0 targeted in ‘Operation Onymous’ dark-web takedown
- Through Rally or Crash, Here’s Why Bitcoin Buyers Are Nervous About China
- Cyberattack causes NHS IT meltdown
- Hardly Anyone Paying the Hackers? Because Using Bitcoin Is Hard
- Bitcoin blows past $2,500, $2,600, and $2,700
Which media to follow?
Would you like to stay on the top of the game and get the latest news about Bitcoin, Ethereum, Ripple, Litecoin and other cryptocurrencies on the rise? You can use Event Registry to identify the main players creating the buzz around cryptocurrencies and who you should follow.
Type the desired keyword for your query in the search line. In the next step, navigate the results window to display drop-down menu and click on top news sources.
One of the options to find articles on a selected topic is by creating a topic page. This allows you to regularly browse news articles for your topic of interest without having to perform searches every time. You can also set up e-mail alerts from the topic page.
What does the future hold for cryptocurrencies?
The price of crypto currencies dropped 23% on average since the beginning of July.
The chart above from Alex Sunnarborg, a researcher at Coindesk, shows the price declines for Bitcoin and other currencies since the start of the month. As we can see, Bitcoin did not fare as badly as some of its smaller rivals like Ethereum and Ripple.
There are only predictions what will happen with cryptocurrencies. Will their price rise or fall? What unforeseeable events will have an impact? We don’t know. But what we do know is that it’s sensible to stay informed about it, especially if you have invested in any crypto currency. This will allow you to react to changes faster and more effectively.