Recently, Bitcoin (BTC), the largest cryptocurrency by market cap in terms of trading volume showed a strong positive reaction to an alleged false report published by crypto news outlet Cointelegraph. The speculation surrounded the Exchange Traded Fund (ETF) application that was filed with the Securities and Exchange Commission (SEC) in the United States by leading asset manager BlackRock. As soon as the fraudulent news was distributed by the outlet, the price of Bitcoin quickly Long jump from $22,472 to a whopping amount of $30K.
One of the key forces that lead to the repudiation of the news was Bloomberg Intelligence experts, Eric Balchunas, and James Seyffart. Seyffart told Fox News Eleanor Terrest, that the application made by BlackRock is yet to be speculated, and Balchunas light phrase that people should be warned the flux of BTC related headlines and news models.
Soares Martin, popularly known as <a href="https://"]Luke Martin among the community whimsically roasted the news channel as a whole for false advertisement and publications. Now, Cointeleg gr aph has deleted the controversial post in question, enabling Bitcoin trace its course to$ 28.145 mark.
Although the validiy of the news has been questioned and is still under prospective speculation, the fleeting upsurge of BTC due to the news speaks volumes on its significance.
