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How FUD’s Prove to be Disastrous for the Cryptocurrency Community.


Mar 24, 2018 Posted /  1399 Views


How FUD’s Prove to be Disastrous for the Cryptocurrency Community.

Fear, uncertainty, and doubt (often shortened to FUD) is a disinformation strategy used in sales, marketing, public relations, talk radio, politics, religious organizations, and propaganda. FUD is generally a strategy to influence perception by disseminating negative and dubious or false information and a manifestation of the appeal to fear. The term FUD is also alternatively rendered as "Fear Uncertainty and Disinformation". By spreading questionable information about the drawbacks of less well-known products, an established company can discourage decision-makers from choosing those products over its own, regardless of the relative technical merits. This technique has been used for a very long time. There have been various fluctuations in the Crypto market due to these kinds of FUDs.

Some of the illustrations are.

  • Ill-fated Japanese exchange Mt. Gox’s first recorded implosion happened, and the price buckled some three dollars literal minutes after news hit. It wasn’t over. For one week in June 2011, BTC price shook a nasty 68 percent after a high of 32.00 USD, sending it into a bearish run where it scraped to a paltry 2.00 USD by November. That 30 dollar range would not return for more than a year.
  • 2015 and 2016 saw fewer crashes and a smoothing out of BTC price. Then Bitstamp was hacked, and BTC falls by nearly half that Summer. The beginning of the Year of Bitcoin, 2017, saw BTC slip 30 percent on news. China was mulling greater restrictions, which they later would impose in September 2017 but both investors and issuers in the country have found a way to circumvent the laws that were implemented by Chinese regulators, according to a report in local publication Caixin Global.
  • Despite the fact that ICO demand largely stems from Asia, China in September 2017 infamously cracked down on the market, making token sales illegal and inspiring South Korea to do the same eventually in the same month. Meanwhile, Asia is where most of the bitcoin mining has occurred, and investors were keen to often reinvest their profits in ICOs.
  • March 2018, again witnessed lots if FUDs wherein Google decided to ban all advertisements relating to cryptocurrencies.
  • Also, Bitcoin price fluctuated when the crypto giant Binance was likely to get a warning from the Financial Services Agency of Japan giving its lack of registration with the financial regulatory as the reason.

All these FUDs among people have played a predominant role in moving the prices of cryptocurrencies. The high volatility of cryptocurrencies is also one of the reasons as to why it fluctuates at this scale.  

As these FUDs among people could drive Crypto prices like crazy. It is more likely that in future, any other bigger FUD could destroy the Crypto world. The breakdown of the Crypto world may also be associated with the high amount of restlessness among the massive group of millennials who are a part of this crypto world.


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Tags: cryptocurrency

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