Bitcoin publicity strategy
3 min readBitcoin has the goal to replace the fiat currency which is a big one, and it is one that cannot be met without a good campaign strategy. No one knows who is running the Bitcoin operation and if they are dead or alive, so who knows if Bitcoin even has a publicity team.
Earlier this month, the question of who invented Bitcoin went viral again, this time on Reddit. On Reddit, some users suggested the late Hal Finney as the Bitcoin developer because he was one of the first people to use the coin.
With no known founder, it is left to every single person to publicize Bitcoin. As Bitcoin is finite, an increase in demand would result in the price rising.
Some notable celebrities, politicians, and organizations have put Bitcoin in the spotlight. Let’s look at how significant their publicity was on the Bitcoin price.
The Future Wyoming Senator
One particular individual who has joined the Bitcoin fan club is Cynthia Lummis, the newly elected Wyoming Senator. When she got her seat, many publications started writing about her boundless support for Bitcoin.
She is now known for publicizing the coin for its capabilities to store value as it is a finite coin. The Senator believes that BTC could replace reserve currency.
Let’s take a look at the impact her being elected had on the Bitcoin price to see if her personality was significant publicity. Miss Lummis was elected on the 3rd of November, so it only makes sense to see what happened on that day.
Throughout the 3rd of November, mostly as time went on and the results sunk in, we can see that the price went up. From 12:00 pm GMT up until the following day, there is bullish momentum.
The candles are flicking between bullish and bearish from 12:00 pm GMT, but there is mostly bullish action. Looking at the Moving Average Convergence Divergence (MACD), you can see how the price is gradually experiencing bullish momentum as the election results sink in.
The Senator also went on ABC on the 14th of November to publicize the coin. Perhaps going on ABC was more effective.
Going on ABC was not as influential as the election results day. Peering at the MACD on the 14th of November points to mostly bearish action.
Though the candles flicker between bearish and bullish again, it is evident that there is more bearish action throughout the whole day. It takes grand events to push demand truly and see Bitcoin’s price rise.
Peering at the MACD on the 14th of November points to mostly bearish action. Though the candles flicker between bearish and bullish again, it is evident that there is more bearish action throughout the whole day.
It takes grand events to push demand and see Bitcoin’s price rise. Exploring another celebrated figure and how their Bitcoin adoption affected the price may give us better insight into the best Bitcoin publicity strategy.
Game of Thrones star
On the 16th of November, 20:05 pm GMT, the acclaimed Maisie Willaims, a former Game of Thrones star, publicized how she thought about purchasing Bitcoin. Miss. Williams managed to get her fans to vote on Twitter whether or not she should invest in the coin in the first place.
Let’s glimpse at what occurred to the currency the night the star posted on Twitter.
From 20:00 pm GMT, there was a steep incline of bearish action displayed by the MACD indicator. The candle was also green, indicating that there was bullish action from the time the celebrity tweeted.
It takes a meaningful event or a celebrity with a huge fan base to empower people to use Bitcoin.
