To The Moon

This piece of Fake News worth $100 million could go down in history.

Before the U.S. stock market opened on Monday, Oct. 16, Eastern Time, Cointelegraph, a well-known cryptocurrency media company, posted a message on Twitter saying, "The SEC APPROVES ISHARES BITCOIN SPOT ETF.”

The news was not confirmed at the time, but the price of Bitcoin fluctuated sharply within 10 minutes. In less than half an hour, Bitcoin quickly jumped from below US$28,000 to above US$30,000, breaking through the US$30,000 mark for the first time in two months, rising by more than 10% from the low in early Asian trading.

Nearly $100 million was paid in the market for these 7-word messages, of which $72 million was liquidated for short orders and $26 million for long orders.

However, after the opening of the U.S. exchange, a reporter from the U.S. mainstream media Fox reported that BlackRock had confirmed that the news published by Cointelegraph was false and that their application was still being reviewed by the SEC.

*Walter Bloomberg later also publicly stated BLACKROCK SAYS ETF APPLICATION IS STILL UNDER REVIEW BY SEC

Then the bitcoin price plummeted rapidly, falling from over $30,000 to below $28,000 in half an hour, a drop of more than 7%. Although it later rebounded to $28,000, the increase decreased to Within 5% in the last 24 hours.

Cointelegraph later apologized that the post it published spread false information about the BlackRock Bitcoin ETF.

Affected by this news$Marathon Digital Holdings Inc(MARA)$ $Grayscale Bitcoin Trust (BTC)(GBTC)$ $2X BITCOIN STRATEGY ETF(BITX)$ , $Valkyrie Bitcoin Miners ETF(WGMI)$ $VanEck Bitcoin Strategy ETF(XBTF)$ Prices have been on a rollercoaster ride.

The entire cryptocurrency market was really happy for nothing on Monday.

Regarding bitcoin price expectations, analysts believe that cryptocurrencies are plagued by low trading volume and liquidity, in addition to regulatory uncertainty SEC. This is also the reason why Bitcoin could not hold above $30,000 for a long time.

Questions For You:

1. Do you trade cryptos?

2. What’s your target price for Bitcoin in October?