Bitcoin coverage suffers a setback, but China remains enthusiastic

Although investors have returned to Bitcoin, the virtual currency has lost the global spotlight it once enjoyed.

Bitcoin was a hot investment during its eight-month rally, gaining about 130 percent , but it is no longer the hot topic it once was.

According to Factiva , a media database owned by Dow Jones & Co., publisher of The Wall Street Journal , media articles and blog posts mentioning Bitcoin dropped sharply in 2014 and have not recovered since the value of Bitcoin began to rise again at the end of last year.

There was a surge in articles in May due to news about Bitcoin’s founder, but that quickly died down.

The declining media interest reflects the fact that the majority of investment interest in Bitcoin comes from China. A search of Chinese articles shows that media interest in Bitcoin has grown in tandem with the currency’s value.

Two Chinese bitcoin exchanges, Huobi and OKCoin, now account for 92% of global trade . Analysts say concerns about a sudden devaluation of the yuan and stories of scams on peer-to-peer lending platforms have led some Chinese investors to look to bitcoin.

But the rest of the world seems to have lost interest.

This is not good for the long-term use of Bitcoin and for Bitcoin fans who want to see it become a widely used medium of exchange. Given that the yuan is currently dependent on the capriciousness of Chinese retail investors, they will certainly appreciate a short-term rise in value.

Now, virtual currencies seem to have lost their limelight.

JPM compiled from

The Wall Street Journal, Bitcoin`s Rallying Again-But Isn`t Getting Much Attention Anymore.