The role of information and communication processes in facilitating the decisions of economic entities in the bitcoin market

Abstract

This publication contains the results of a study to determine the role and mechanisms of journalistic information products in shaping the trendiness of cryptocurrency exchanges. The methodology of content analysis, case study, and analytics was applied, which allowed to obtain practical results on the actual functional purpose of journalism in the newest New Media paradigm. The research findings indicate a significant impact of the cryptocurrency market, in particular, Bitcoin, on the global economy. This is due to the introduction of digital currencies among developed economies that are seeking to integrate blockchain technology. The development of digital technologies and the New Media paradigm have had a significant impact on the cryptocurrency market, as illustrated by the influence of Elon Musk. Journalism acts as an information and analytical buffer, providing market participants with statistical information and analytical conclusions. Traditional journalistic publications such as Forbes, Reuters, Economic Times, Bloomberg are adapting to the New Media paradigm. Information about Elon Musk's influence shows that journalists act as an information and analytical buffer, providing information and analytical conclusions to cryptocurrency market participants. The study demonstrates the role of journalism in shaping trends in cryptocurrency markets, which emphasizes the need for high quality and reliability of the information published. The use of information control elements, such as blockchain, may be the next step in the development of journalism and the New Media paradigm.