Re: Misleading Report on SEC Decision Shakes Bitcoin Market
On Monday, the crypto-focused media outlet Cointelegraph disseminated false information via social media platform X and its Telegram channel, triggering a more than 10% spike in bitcoin (BTC) value against the U.S. dollar.
The digital currency briefly touched $29,900 per coin before plunging to $28,100 per unit once the news was debunked. Cointelegraph, despite issuing an apology, was too late to prevent the market upheaval that resulted in the obliteration of $78.92 million worth of short positions.source
Quoting for reference.
Yeah, it's a fake news as what we say, but the good news is that the price really went up, and so far we are at $28,4xxx. So it really put a spike on the price, and it seems that it has sustained the run despite it being exposed as not so true news.
Clearly, this is some form of manipulations from big entities, so in this market that we live in, "bad publicity is still publicity'". And I think this is the nature of crypto related media though, news are not verified and they are put up for click bait.
Not so surprising as this has become one of the common nature here in the cryptocurrency market...as it would sometimes be easy to make and distribute unverified news that can move the market to go up or down. Anyway, let's take this as a good news as Bitcoin seems to be enjoying the pump and staying there for now. Congrats then to those who made some money with the upswing and better luck next time to those who experienced the other side of the coin.