Does Bitcoin have a PR problem? ($BTC)

January 27, 2022

Bitcoin is valuable, but that doesn’t mean it’s universally loved.

Underlying Sentiment has taken a sharp dive alongside the price, with Consumer Happiness plunging below 60% positive on a 7-day moving average.

Much of the near-term decline can be attributed to frustrated investors but there are other reasons for non-holders to dislike BTC.
Notable detractions include:

  • Environmental concerns relating to the energy inefficient Proof-of-Work blockchain
  • “It’s a ponzi scheme”
  • “$XYZ coin is better”
  • The belief that it’s a conspiracy to destroy the dollar, created by [insert government]

Bitcoin has taken a bit of a PR hit in recent months, but if history repeats itself, rising prices will help to improve underlying Happiness.

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