Negative news coverage
The mainstream news media loves a good disaster. Be it an attack, a hack, a scam or a heist – they love a good scandal. And that’s what ends up get reported about cryptocurrencies. If the only news stories you read are the negative ones, you’re going to believe that everything about cryptocurrency is negative.
While the tech news or the industry news does cover the latest innovation or the latest successful implementation of cryptocurrency, it doesn’t always make it to the TV headlines and that’s one of the biggest challenges in the way cryptocurrency is perceived.
Fear and loathing
Those who are threatened by something new are the first to criticise it. When AirBNB launched, the hotel industry started complaining as if people were wrong in expecting better prices for holiday homes. Similarly, when Uber launched, the taxi industry started rioting because how dare consumers expect to pay lower prices?
And that’s exactly what’s happening with cryptocurrencies, those who fear it the most have the loudest voices and their voices are usually negative.