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How to find key information researching blockchain news outlets - #CryptoTrading

A system to sift through cryptocurrency news sites, because otherwise you'll get overloaded with random stuff that was probably very noisy during its five minutes of fame, but will be completely irrelevant to your investment or trading decisions.
Blog  .  Published  · By KarlVonBahnhof

The blockchain industry is still in a phase of rapid growth, and so the number of cryptocurrency news outlets is ever increasing.

One one hand, this growing number of independent information resources goes very well with the concept of decentralization. There is absolutely nothing wrong with that.

On the other hand, the problem for the user is how to sift through all the alternative sources that come up in web search.

With legacy finance, one would probably go with coverage by outlets that are already well known and well reputed - but with blockchain news we can’t do that yet due to how new the industry is.

Noisy events are not always important

You will need to come up with a system to sift through cryptocurrency news sites when researching information, otherwise you’ll get overloaded with random stuff that was probably hyped up, shocking and very noisy during its five minutes of fame, but typically will be completely irrelevant to your investment or trading decisions.

How to pick out valuable information via altcoin news research

[1] When it’s interesting, it’s on Reddit.

For the juiciest news, they will be posted on Reddit rather sooner than later. Good subreddits with diligent moderators are r/bitcoinmarkets, r/cryptocurrency, r/altcoin and r/ethtrader but you should also always check the subreddit of the particular altcoin you’re researching, just to see what is the crowd like.

Reddit is in any case a good place to start and will give you plenty inspiration as to what specifically to look for in the second step.

[2] Get just the headlines from mainstream sites.

Big cryptocurrency news outlets release a lot of stuff, most of which is not important or even interesting. The reason is they are in the business of fast news.

These portals need to spew content all day in order to stay on top, they are mostly targeting readers who are bored at work and willing to stare into anything that passes off as work-related. Think people who habitually check out the site without looking for something in particular.

Because these sites earn money from display advertising, their aim is to distract you and keep you procrastinating on their website for as long as possible.

If this is something you want to avoid, you can still get the information sans the hassle if you set up Google Alerts.

Having an alert for broad keywords like “bitcoin” will give you the headlines of all mainstream crypto news outlets as they get published, while you won’t even have to go to the actuall website unless you find something interesting (or a good clickbait).

But if you’ve done step one, chances are that by now you probably have more specific queries to put in. You can also set up alerts for names of personalities.

[3] Find Reliable Small Bloggers.

Once you’ve got the mainstream outlets cleared, it’s good to stay informed about what the bloggers and alternative outlets say.

Smaller publishers and Medium bloggers are very rarely sponsored at all, they almost always publish just because they feel like they have something to say. Quite often that information will not be valuable at all, but that’s your job and your metric for selection.

In general the edge is there though:

  • Medium blogs are best for technical stuff: Diving deep into blockchain technology is something the mainstream outlets cannot afford to publish, their generic audience is not looking for the bother to understand something technically complex. You can sift through newly published posts via tags on Medium if you want to.

  • Small blogs are rarely shared on Reddit, mods will almost always ban unknown portals for “blog spam” even if the content happens to be very valuable. To research small bloggers and independent outlets in a systematic way you will need to turn to cryptocurrency news aggregators. One of the good ones is CoinSpectator, it specializes in sourcing smaller, hand-picked cryptocurrency blogs and blockchain news sites. You can choose whether to view blog articles, news articles or both. Users vote for the linked news in a similar way as on Reddit, but without the brigading.

How to use what you find

If you are a scalper: The news on CoinSpectator updates in real time and there is an infobox with cryptocurrency prices, so it is very convenient to have CoinSpectator open on one of your screens while you’re trading.

If you trade long-term or are an investor: Just check your aggregator of choice whenever you’re doing your investment re-assessment or portfolio rebalancing. Older news is always stored.

 

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