Unraveling the full consequences of the fake Bitcoin ETF approval: analyst
Bitcoin’s (BTC) price recently surged following fake news about a BTC ETF approval , according to one analyst this is an event with unexpectedly far-reaching consequences . In his video on Oct. 18th, popular crypto YouTuber Crypto Banter provided an in-depth analysis of how this fake news impacted the crypto market and what lessons can be learned. The fake tweet, which was posted and quickly deleted by crypto publication Cointelegraph, led to a spike in Bitcoin buying and liquidated many short positions. While the publication blamed the tweet on an intern posting unverified information, the host believes it was likely a coordinated effort at market manipulation. You might also like: What’s happening with Bitcoin ETFs, and will the SEC approve them? However, the host argues the fake news may have actually benefited Bitcoin in some ways. First, it showed that a real SEC approval of a Bitcoin ETF is not yet priced into the market. When legitimate approval happens, ...