Yes, but to be more convincing, I recommend that everyone should learn about Dow's theory.
He once said that prices will reflect news, not prices.
Think about it, when there's good news, before insiders bought many stocks / coins before you caught up. Trading with news is also risky when you choose not the right time to buy, we can also lose a lot of money.
I haven't heard that yet, most traders golden rule is to buy the rumors and sell the news, which is for me is wrong, better to check the price action. Most experts are not doing a lot of technical analysis, they are just relying on the price action of a certain coin/token. It's a wrong way to buy when there is a rumor such as they will list on Binance, or in any top exchange, unless proven and confirmed then that's the time we can buy and not just because of rumors, as people can easily manipulate and can easily share that whenever they want just to hype.