There is a rumour going on about an potential $500 billion investment into BTC by the Saudi governments, As we know today BTC just dropped below $40k. I am having a very strong feeling that this would be the perfect time to invest, What are your thoughts about this and price predictions for next week if the this "rumour" becomes a reality?
The fact is I think that rumors are one kind of trap. If someone invests depending on Rumors, then it will be foolish, maybe many will invest to buy BTC after seeing this rumor, but it will be very risky. I think even if the rumor is true then you should not invest based on it. I myself and many of my friends have seen losses in most cases while making investments depending only on rumours. Investing depending on rumors is a lot of gambling.
But one thing that can be done is to verify the rumors that they are true or not and the primary way is to go and check the official statement, you can follow the statements of those authors. But interesting is think my eyes haven't caught up any official statement so I don't think Saudi Arabia will buy 1 million bitcoins because one million bitcoins is a huge amount considering the current bitcoin circulating supply of 19.61 million is above 5%.