Bitcoin Forum

The price of Bitcoin went up from $28,000 to $30,000 and then back down within minutes, all because of unproven rumors about the approval of a Bitcoin investment fund.

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On Monday, something interesting happened with Bitcoin. Its price went up from less than $28,000 to $30,000 in just a few minutes. The reason? Well, there were rumors on social media that the US Securities and Exchange Commission (SEC) had given the green light to BlackRock, a big company that handles investments, to create something called the iShares spot Bitcoin Exchange Traded Fund (ETF).

At first, a popular Twitter account called Cointelegraph posted this news but later deleted it. They then posted it again but added the word "reportedly" before also deleting that post. This made people doubt if the news was true or not, and they wanted to know where this information came from.

Continue reading...
https://www.cryptocrit.xyz/2023/10/why-bitcoins-price-surges-and-drops.html (https://www.cryptocrit.xyz/2023/10/why-bitcoins-price-surges-and-drops.html)

This is a game played by market makers, and we will undoubtedly have to endure such fake news in the future. There's no doubt anymore, and this is the phase where the whales are accumulating. They are generating false information to create frustration among investors, and in some cases even worse news, to buy tokens at extremely low prices. This is the time for investors to acquire their favorite tokens. Don't miss the opportunity in the last months of 2023, and 2024 is the time for us to take profits

That news was proven to be false. Cointelegraph admitted that the news was wrong and they'd made a mistake posting it. Thanks to the one who's behind that manipulation who has made a lot of money for just a few hours.


Just think of it at all times, Bitcoin is volatile and its price is always on the verge of going up and down. So that's it, because of it being volatile every news that comes out to be positive can affect it positively and every news that comes out negatively can also affect its price.
Do not be surprised when there is a fluctuation whether it's due to manipulation or not. But we'd love to see more of it if there is no news and it's just the normal move of Bitcoin based on the market and its demand. And we'll see that very soon when the upcoming halving is done. The good news are the ones that will follow Bitcoin because everyone knows what are the great impacts of its halving.

Well also with the inclusions of the social platform where users followed and subscribed they are fast on acting and opening future position and some whales too thats why they are caught right away with the surge when suddenly a report has to be meen fake or reportedly wrong. Many affected with that especially traders but spot users are probably happy with the recent movement even a little pumped. This just means how big the application of etf when happened completely.

In my opinion, there are several factors that still make sense that cause the price of Bitcoin to rise and then fall again suddenly, especially the emergence of fake news regarding the approval of a Bitcoin ETF by Blackrock.
And this news attracted the attention of investors, but this happiness only lasted for a short time and turned into disappointment after Blackrock stated that this was just a rumor.
And we must realize that Bitcoin price is not easy to predict and there will be significant increases and increases due to many unexpected factors. And such an event would be detrimental for traders, but not for long-term investors who always take advantage of dips to buy more Bitcoin.

Fake news basically. Somehow a possible market manipulation. A reputable crypto article maker made a article about a anticipated news that the community are expecting, this resulted to massive price increase since people are expecting it. The hard resistance price point where easily broke by the surge, this is why I think that if the bitcoin etfs where really approved, we can expect a massive price increase.

There are often a multitude of reasons for such movements and speculating them only leads to more frustration because none of the reasons actually have any concrete link. Same happens in the stock market and hence there are ways to take advantage of them instead of losing your hair.

Because you should have bought when the prices were around 25-26k USD (Bear market, get that?) and place the limit order at 30k USD - if you did that and the price crossed for whatever damn time, you would be in a 5-4k USD profit/BTC.

This simple trick of keeping the order open may lead to unexpected profits on your account.

I think here institutions are playing a major role in controlling, or rather influencing the price of bitcoin. Every time we see a sudden increase or sudden decrease in the price, the root cause lies in the fact that there is some kind of news, or I should say rumors, in the market. The only true news or events trigger a consistent upward or downward price movement of bitcoin. For retail investors, I think there are two options. One, hold for the long term and, if possible accumulate on big deeps. The second option would be trading, but keeping a close eye on the current market news and events.

Did make out some search about that intern posted out that fake thing then it turns out on things which is already that anticipated.

BREAKING: COINTELEGRAPH INTERN FIRED, Reportedly
https://twitter.com/MacroMate8/status/1713919493242528141

I dont know if this one is legit yet there's no official announcement about getting fired but its normal action that they would be making.
Cointelegraphs integrity had really been that greatly affected by this one. Dont know if they would really be that able to clear things up and make people do forget
on what happened. Basing up on this situation which this is really just that purely a manipulative kind of action which it isnt something that tolerable
or someone do really needs to get jailed basing up on how it do affects out the entire market.

This news was excited at that time there were several threads discussing it and the conclusion was the same that Cointelegraph was wrong for publishing fake news without clear sources.

Speculation continues to emerge that this must be the whale's work to take advantage of a market, and there are other indications that Cointelegraph made an entry at $28k and exit at $30k (https://bitcointalk.org/index.php?topic=5470551.msg63004591#msg63004591). This is not clear, but some say this is a global elite manipulation.

I am still not convinced about this effect.

You must be new here if you think a $2,000 candle & then back down is a big event. This is the wild west, out here in bitcoin land. It’s still a relatively young asset hence the volatility. We still have people immaturely reacting to news. Bitcoin is a long term play, some people fail to grasp that. Ignore all the noise & look long term.

Allarket manipulation.  This was all just that, and shouldn't listen to it. I expect bitcoin to creep up organically these things are blips in that timeline and should be ignored.  In terms of bitcoin and doge going inversely that's real bad for dogecoin in that usually alts go up the same as bitcoin because of the main bitcoin pairings.

This has been the trend of there’s a hype and we all know, many will take profit right away especially if you are already in a good position with a good profit. Looking at the long term trend with Bitcoin is a good thing, this means that you are not bothered about the short term volatility and you are still buying for the purpose of holding until the next bull run. This kind of pump and dump is a usual scenario, good thing is we are able to hold at the price of $28k.

Probably a whale trying to manipulate the price of Bitcoin and yes, this has been their activity since then and they made a lot of easy money from this. Be careful on this kind of trend and make sure not to panic buying because you might be trap on top again. If you are trading futures better to be more aware about the market to avoid being liquidated and always have your cut loss price for your own safety.

Exactly, the rules have change already since 2017, when big players and wall streets suddenly went into the market and manipulate the game itself. So everything has change and what's worse is that we, retail investors are the one suffering the consequences.

How can cointelegraph get themselves involved in this kind of manipulation?

So the price went as high as $30k then drop to $28k. So somewhere along the way, big players won and make a huge profit because of that news.

The news which cause the pump was later said to be fake and price dumped back down a bit. This shows the crypto market can always be manipulated so u have to trade carefully if u must do , now let’s look at the positive aspect of this ETF thing yeah . If a fake ETF news can cause a spike in price, this shows if it eventually happens we will see an inflow of new money and also big entities coming in as well. This would be a crazy one for bitcoin and crypto in general, I hope it happens someday

We all know that news like this may cause the price to increase by 10%, and because Cointelegraph has credibility, someone may have paid them to publish the news, or at least the source of the news lied to them. Someone has made profits from this fake news, and the so-called FUD will continue as long as investors bet on the market movement like this.
It has been a long time without us seeing positive increases, so some believe that it may be a golden opportunity for them to enter and make a short-term profit, especially since we are near a resistance level, if it is broken, we will reach $42,000.

Greatly affected, but you know what, people will just forget about what Cointelegraph did a few weeks from now. ;) Just like what the scammers are doing. Will do a scam, people forget about it, and the cycle goes on, and on, and on.

If this is true though, that intern deserves to get fired because that incident might cause some traders to lose money especially those who positioned into short at the time when the news spread online. On the other hand, there are some who earn lots of money when they longed the market a few hours before Bitcoin goes up. Nevertheless, I did saw what happened, and did some research, and when I saw that it's a fake news, I kind of laughed a bit, but news like this are pretty common already especially if you've been into the crypto space for quite some time.

This is the power of the internet. Anybody can share news that's fake anytime, and it's up to the people if they'll believe on it or not. Cointelegraph will be fine. Like I said, people will just forget it after a few weeks like nothing happened.

That's why you only get your crypto news from some legit sources because other sites are compromised and they are not telling the truth simply because they have some other agenda concerning what they are publicly published. therefore, when it comes to investment, make sure you already have your personal research and these kinds of news just mean nothing to you because they don't really add anything since they also came from speculations which most likely are not true.

Basically that's just what it does, we buy and sell to make it go up and down, there isn't really that much different answer than that. We may see some "reasons" for people to buy and sell, but it is always the same, they sell because they think it will go down, and they buy because they think it will go up, that is about it and nothing more, I think it should be quite important to make it work.

I understand that it may not be the ideal situation at hand, but that is definitely the best that we have right now and we should be focusing on it like we wouldn't anything else. This would be the best thing to do in this regard, otherwise it is going to cause a lot of trouble for a lot of people if we do not know what to do.

You can think of manipulation but this is how the volatility looks like and I was certain that we know that already.
The price of Bitcoin is just like a roller coaster it dumps and pumps for some reason that is why we make ourselves ready for it and not get affected by the price movement. This is normal in the crypto space, we saw the price of Bitcoin pump today but never expect that it remain the same tomorrow as it certainly be changing its course. But guess what, the volatility of the market is a reason why we earn a profit here and attract more traders.

When Cointelegraph sneezes fake news, Bitcoin catches a cold... to the tune of $100m in short liquidations! 🤧

Anyhow, volatility of anything that has value attached being a 'good' or a 'service' is dependent on supply /demand dynamics. The mere  'fake' SEC approval of BlackRock's BITCOIN ETF was nothing but a 'TEST' if you can call it that though an insightful one since is demonstrates the seismic waves the real SEC approval will send.

Ahh, for a funnier explanation, check this: volatility is just Bitcoin's way of keeping us on our toes, at least a short-break from all these 'hacks' and 'wallet drains attacks'.

In my opinion, what they did was manipulation, and sadly, no one is suing them for that mistake.
This kind of thing should never happen especially for a reputable news outlet like them and worse they specialize in cryptocurrencies so investors, traders, and retail buyers are all eyes on them every day to sniff news about what's happening in the cryptocurrency industry. Many people are following that website and I do believe they are always offering good or bad news in their articles but this should never happen because lots of money are gone and whoever sold at that amount is one heck of a millionaire now. Just like that.
Thankfully now Bitcoin is not taking the plunge and I think those who bought on that recent fake news period will just stay and wait instead for an opportunity to sell it back or better just hodl it.

you can see the fear of missing out to invest in bitcoin when news about ETF going around, its increasing suddenly because everyone think it will increase due to the fact that there are news about bitcoin approval for ETF then suddenly it falls after knowing that its not really true.
thats the thing with cryptocurrency market and arguably any other investment in general, the news could massively affect the general sentiment and also the price of the investment.
the sudden rally and correction is definitely caused by that news since I see no other significant news appearing. the most important thing is that we can take advantage of it.

the movement help by liquidation some futures, and etf might or people believe it start begining of no coiner bullrun
with gold pushed by BRICS, u.s has no option to approve btc etf to minimize u.s retail power not to invest in gold, in favor of BRICS

We now know whether it's fake or real news, and people are panicking about the crypto market. Because even though we believe in Bitcoin and other stable coins, there is still something burning deep inside when hearing this kind of news. It's mainly because the acceptance of the technology and the decentralization method really takes time. Plus, the governments have had very mixed reactions over time; now it's getting better, but still they are not coming up with any hope. Almost every day, we will monitor the market, even if it's a long-term investment. All these make sense given the sudden volatility of the price of bitcoin within a few minutes.

There are certain news created  and we don't know about its reality and reason that why people are originating such news but these news alter the whole situation of market. Other thing is that people often move their desire according to the news so if they are positive then demand for bitcoin increases and when they are against people desires then they change to buy during that period. Information about coming halving is a thing which move the whole crypto market to react in a positive direction so people are willing to buy more and more therefore price act as a linear way of success. These are the reason that decrease and increase the cost of bitcoin and indirectly the cost of other coins.

People are vigilant with the crypto news, they know how volatile the price is even with news from a tiny country adopting crypto.

The bad news always brings the price down. This thread was created when the price was still 30K and then dropped to $28k as OP complained. They seemed manipulated because they knew iBTC was listed and then it was claimed to be fake and then later on they were saying iBTC was already listed long ago.
This news and confirmation detail confused traders to sell their BTC. They know it's going to happen and making traders confused about what is going on makes uncertainty in the market.

News reflects to demand as one of the factors. Manipulation by huge investors would also create a sudden change with the market price of not only bitcoin but also other cryptocurrencies. Dates or Seasons also affects and sometimes triggers a shift with demand as we’ve seen over years. This is simply how powerful demand is; there are many things that can affect a demand of something. It happened that all cryptocurrencies market price are determined by demand which makes it not surprising to see a sudden dump on its value but also with pumps on it. This is why DCAs and other type of analyses are just serving as guide and never guarantees the next price action. If the market is too predictable then many people should be rich by now especially ones from this industry wherein almost everything is connected with one another.

its usually just rumours and news at play that could affect demand and change the tide of the market.
so many times i've seen that market turning from bearish to literally bullish just from some news alone in which definitely also sometime utilized by the big guys to affect the market without money.
but overall I think bitcoin is still purely based on demand, even attempt of manipulating is not as easy as it might seem considering the many liquidity of course influencing the market with money will take more than few millions and that within short amount of time, otherwise the capital would be wasted.
thats why so many people saying that influencing or manipulating bitcoin is not some random easy feat that everyone could pull off you need to be at least the big guy with big capital to pull that off.

It is likely sure for bitcoin to drop at any given time, bitcoin is not like USDT bitcoin is a decentralized coin and it changes in any given time due to it's Volatility so to me it never a new thing that bitcoin risis and fall. It's only a beginner that would be thinking otherwise. Except am getting it wrong from my own direction.

its entirely different thing yes, USDT is pegged to dollar value meanwhile bitcoin is pure demand and supply therefore the ever changing prices, I guess until the market capitalization grow as big as gold it will just stays volatile.
but it also become the advantage of trading bitcoin, without fluctuation I doubt the market gonna be this big, the fact that it fluctuates a lot creates so many opportunity for the traders to earn some money.
so many people also interested in crypto because of the volatility while also having massive liquidity that makes it more interesting than those stocks investment.
thats why even if bitcoin price surges and drops unexpectedly as stated, its becoming a feature now, not a disadvantage.

You should be able to understand questions like this by reading about how Bitcoin works and what Bitcoin means.
The spike or decline is because the price of Bitcoin is formed by supply and demand.
If many people buy Bitcoin, the price will rise, and vice versa.
You can read more clearly on Google or in several articles about Bitcoin, or look for other threads in this forum that explain Bitcoin for beginners.

You just analyzed what actually happened in this sudden pump and dump of bitcoin price, within a very short record time. This goes to show that some people greatly influences the price of bitcoin, and they're the whales as you have noted. They can create panic in the crypto space and many investors will rush and sale, leading to surplus supply in the market, where the impact will be massive dip in price, and they'll just accumulate as much as they can. When bull run comes, they'll cash in heavily by offloading the excess accumulated bitcoin.

With my experience about how the bitcoin market works, I'll not sale my bitcoin when we're expecting ATH, I'd take advantage of even fake news to accumulate bitcoin if price dips. The market is about buy low and sale high, that's what i look out for in a season like this.

it’s just basically the sophisticated application of supply and demand

if you want to be able to invest in bitcoin and gain profit the first thing you should know is how the market works and how it will be in the next few years

https://www.investopedia.com/tech/what-determines-value-1-bitcoin/

this article pretty much explained the fundamentals of bitcoin

Such strong fluctuations further show that the current crypto market is still very small. I believe that those who have been exposed to this market will recognize that problem, which is considered medium. is an opportunity as well as a risk in investment.
Positive news causes prices to suddenly increase and vice versa, which brings excitement to this space, when it is clear that we will not want to invest in something without volatility.

And to be very honest, when I look at Bitcoin, I can see why it's so famous. In my brief time in this profession, I have witnessed firsthand the truth that it is highly volatile.

The fact that a whale investor may easily manipulate the market when he wants to purchase or sell could be one of the causes. It goes without saying that a large sale by an investor will significantly lower the value of Bitcoin in the market. Acquiring a substantial quantity will also significantly influence the market price increase.

Why did the price of Bitcoin fall on the market? (https://cointelegraph.com/news/why-did-bitcoin-price-suddenly-drop-analysts-explain)

Demand is like the wind - unseen but powerful enough to move the ship in any direction. Whales indeed have a huge impact. Their activities might cause market ripples or collapse. Seasons or specific dates can have a decent impact. It suggests a behavioral pattern in trading, doesnt it? Possibly like the "January Effect" or "Sell in May and go away." This cyclical nature means we can observe patterns but not predict the market.

And DCA is just guidelines, not crystal balls. Market uncertainty makes it dangerous but also rewarding. If predictable, wouldnt everyone be rich? But, not everyone finds gold here. This unpredictability shouldnt deter us. Instead, it should promote diversification and strategic investing. Market trends may be better understood with machine learning and AI. Perhaps a deeper investigation of social media sentiment could reveal market mood. We must constantly innovate our understanding and approach with a grain of salt. Change is the only constant.

I don't see what this thread is about. The price of a bitcoin is still is 1 bitcoin.

Supply and Demand, just like how your local market works. At some point, we cannot control the price of it because anybody can affect the price of Bitcoin. That is why you should know how to play with the market. It is important to have basic knowledge, because if you just carelessly buy BTC without the prior knowledge and you expect to gain without it, you might lose your money.