The price of Bitcoin went up from $28,000 to $30,000 and then back down within minutes, all because of unproven rumors about the approval of a Bitcoin investment fund.
On Monday, something interesting happened with Bitcoin. Its price went up from less than $28,000 to $30,000 in just a few minutes. The reason? Well, there were rumors on social media that the US Securities and Exchange Commission (SEC) had given the green light to BlackRock, a big company that handles investments, to create something called the iShares spot Bitcoin Exchange Traded Fund (ETF).
At first, a popular Twitter account called Cointelegraph posted this news but later deleted it. They then posted it again but added the word "reportedly" before also deleting that post. This made people doubt if the news was true or not, and they wanted to know where this information came from.
Continue reading...
https://www.cryptocrit.xyz/2023/10/why-bitcoins-price-surges-and-drops.html
On Monday, something interesting happened with Bitcoin. Its price went up from less than $28,000 to $30,000 in just a few minutes. The reason? Well, there were rumors on social media that the US Securities and Exchange Commission (SEC) had given the green light to BlackRock, a big company that handles investments, to create something called the iShares spot Bitcoin Exchange Traded Fund (ETF).
At first, a popular Twitter account called Cointelegraph posted this news but later deleted it. They then posted it again but added the word "reportedly" before also deleting that post. This made people doubt if the news was true or not, and they wanted to know where this information came from.
Continue reading...
https://www.cryptocrit.xyz/2023/10/why-bitcoins-price-surges-and-drops.html
We now know whether it's fake or real news, and people are panicking about the crypto market. Because even though we believe in Bitcoin and other stable coins, there is still something burning deep inside when hearing this kind of news. It's mainly because the acceptance of the technology and the decentralization method really takes time. Plus, the governments have had very mixed reactions over time; now it's getting better, but still they are not coming up with any hope. Almost every day, we will monitor the market, even if it's a long-term investment. All these make sense given the sudden volatility of the price of bitcoin within a few minutes.