Bitcoin

<p>In the current digital era, a mere rumor about Bitcoin can spread instantly and disrupt the global market in the blink of an eye. Recently, this reality was strikingly demonstrated when inaccurate information led to a soaring surge in Bitcoin’s price, followed by an equally abrupt fall. So, what’s the true story behind this sudden volatility?</p> 
<h2 id="h-a-tweet-with-soaring-consequences">A Tweet with Soaring Consequences</h2> 
<p>The power of a tweet is sometimes underestimated, especially when it comes from a source considered reliable. Cointelegraph, a reputable media outlet in the crypto ecosystem with its 1.9 million followers on the X platform (formerly Twitter), published an explosive message: the approval of a Bitcoin ETF by the giant BlackRock. You’ll understand that it had nothing to do with <a href="https://www.cointribune.com/bitcoin-grayscale-triomphe-face-a-la-sec-pour-son-etf-spot/" target="_blank" rel="noreferrer noopener">Grayscale’s victory over the SEC</a>.</p>
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<p>In just a few minutes, this announcement propelled the price of Bitcoin from $27,900 to $29,400, an increase of over 5%.</p> 
<p>But the excitement was short-lived. <a href="https://x.com/EleanorTerrett/status/1713913109272809602?s=20" target="_blank" rel="noreferrer noopener">Eleanor Terrett</a>, a Fox News journalist, quickly debunked this information, stating that BlackRock had never confirmed such approval.</p> 
<h2 id="suspicions-of-behind-the-scenes-bitcoin-manipulations">Suspicions of Behind-the-Scenes Bitcoin Manipulations</h2> 
<p>While the world was astonished by Bitcoin’s erratic movements, another story was unfolding behind the scenes. An individual allegedly placed a $50,000 bet on the RollBIT exchange, betting on a Bitcoin price increase just 5 minutes before the false news was released. This audacious bet allowed them to reap an astronomical gain of $2.25 million.</p> 
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 <img decoding="async" width="591" height="814" src="https://www.cointribune.com/app/uploads/2023/10/WhatsApp-Image-2023-10-17-at-00.17.50.jpeg" alt="" class="wp-image-642237" srcset="https://www.cointribune.com/app/uploads/2023/10/WhatsApp-Image-2023-10-17-at-00.17.50.jpeg 591w, https://www.cointribune.com/app/uploads/2023/10/WhatsApp-Image-2023-10-17-at-00.17.50-218x300.jpeg 218w" sizes="(max-width: 591px) 100vw, 591px">
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   Source : RollBit
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<p>Was it a coincidence or a set-up? The timing is suspicious, especially when considering that this pump and dump liquidated $100 million in short positions. The suspicions of insider trading are more than justified.</p> 
<h2 id="the-lesson-to-learn-vigilance-and-responsibility">The Lesson to Learn: Vigilance and Responsibility</h2> 
<p>The dissemination of false information is not a trivial act, especially in a volatile domain like Bitcoin. So, who is to blame? Cointelegraph, probably a victim of hacking, <a href="https://x.com/Cointelegraph/status/1713925876969017792?s=20" target="_blank" rel="noreferrer noopener">quickly apologized</a> and launched an investigation.</p> 
<p>However, the media outlets that relayed the information without verification bear a significant share of responsibility. In this digital world, the speed of information should never take precedence over its verifiability. As the saying goes, “Think seven times before posting a piece of news.”</p> 
<p>The Bitcoin and false BlackRock ETF approval saga is a harsh reminder of the importance of journalistic rigor and investor caution. In a world where every tweet can disrupt markets, verifying information is more critical than ever.</p> 
<p>This story also highlights the importance for Bitcoin industry players to remain vigilant against potential manipulations. After all, trust is a precious commodity, especially in the digital world. This unfounded rumor does not deter the <a href="https://www.cointribune.com/en/bitcoin-la-grande-hausse-commence-maintenant-2/" target="_blank" rel="noreferrer noopener">strong upward trend on the horizon</a>.</p>
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Bitcoin: The fake news that has shaken the market!

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