Alright guys, I know this sounds a bit controversial, but we’re going to talk about news and whether it’s useful or damaging to your psychology, and whether you should ever subscribe to news commentary too seriously. Now, obviously there are many cases where it makes sense to disagree with news reporting, especially because it’s geared towards negative coverage more so than positive coverage. How would I know? Because I’ve had my run ins with news editors, and editorial staff at various publications that wanted to report negative coverage exclusively. In some cases, they will cite the positive one-day move, followed by a panelist that talks about the latest “bubble.” Keep in mind, the media is not interested in your success, they’re self-motivated by ratings, or in terms of internet parlance, “viewership.” I.e. they’re intrinsically motivated to report on events and not provide outlook or coverage on bullish scenarios (that are statistically likely to occur). This isn’t just in cryptocurrency, if you look back on “expert commentary” in the news, i.e. CNBC (mainstream nonsense) when the market crossed 14,000 Dow Jones Industrial Average in 2013, i.e. when the market broke to new all-time-highs, they’d cite the most negative economic statistics, bring other experts pandering their latest double-dip recession mythology, and would write way bigger headlines than necessary on negative days, while providing far less coverage on 100+ point move days on the Dow. I.E. the media was wrong badly in 2013, and the years following. The Dow has more than doubled since that point, and it’s obvious, that none of the pundits who were providing all that negative coverage have the expertise of making great predictions, useful insights, or anything of that sort. They’re not experts at markets, or investing, they’re experts at maintaining news viewership ratings. They’re experts at running a news business, and experts at driving mass hysteria to drive volume traffic, but it’s not out of the goodness or kindness of their hearts that they’re providing you with news coverage, it’s because they’re intrinsically motivated to play on negative mental triggers, which is effective for driving clicks and traffic to their videos, website and so forth. In other words, the media has a specific mentality when they present coverage to you, as a consumer of information you must be wary of this, especially with cryptocurrency. They don’t have a panelist of top-qualified experts that make consistent money, because if they did, those members of the panel would not need consistent TV airtime to drive business to their enterprise, instead they’d be busy marketing their investment returns to prospective investors via their investment prospectus to drive AUM growth, hence the asset managers on TV are the proverbial loser crowd managers who spend more on marketing, and less on internal research and staff. The media has no incentive to provide market beating predictions, because sustaining such a track record is difficult, and there’s very little empirical evidence that there’s ever been a journalist willing to accept sub-par journalist compensation, as opposed to trading or investing for themselves, or working at a top-tier investment management firm. Basically, retaining that sort of talent is costly, and it’s not like they receive much recognition for making great calls, because they provide non-stop programming, hence no one will remember their great investment picks given enough weeks, months and years. So, the media defaults to the path of providing negative coverage, because they automatically assume they can’t help you as an investor, because they don’t have investment wizards on their panels, or as anchors. Therefore, the safe move is to report bad days, ignore good days, because they don’t want to predict, but they do like to report bad days, and negative events, so they can reap the rewards of maintaining their negative bias, which tends to attract a decent chunk of the human population that have a negative pre-disposition on life in general. So, when keeping all of this in mind, you must be cautious with media outlets and what their intentions/motivations are. Keep in mind, that you’re responsible with your own investment portfolio, and the decisions you make. If you fall prey or become susceptible to waves of negative criticism spread predominantly by news anchors, which then gets spread even further by a loyal following of media minions, then your psychology gets impaired by primarily a negative view. The lack of optimism, or the total absence of it is detrimental and triggers extraneous trading activity that drives brokerage slippage, or what day traders refer to as “over-trading.” This leads to the un-envious position of trading every market move, which leads to patterned day-trading. Now, I’m not trying to discourage people from day-trading, but I do warn you that people who don’t have the temperament of a day-trader go on to become day-traders, because they respond so frequently to news, when they could have just accumulated a position via dollar cost averaging and sticking to their business or day-job. In the end, acting on fear triggers is not the mark of a professional, and it’s not going to help you in the long haul, so keep that in mind the next time you read a news article. Keep in mind, if you want to learn more via video courses with my help, and the help of crypto millionaires, bitcoin foundation founders, and various other crypto pioneers who are at the forefront of news, information, and methodologies you’ve got to join the Bitcoin Crypto Mastermind program. We also provide live events, one-on-one consulting, and private communities where knowledgeable experts, and experienced traders interact with each other, share ideas, and keep a level of inclusion that can be found nowhere else. The program will remain open for a select period, so enroll as soon as possible.