Why Bitcoin's Price Surges and Drops Unexpectedly

[Cryptocrit]

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.

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

[yra8h2nf8h]

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

[passwordnow]

This made people doubt if the news was true or not, and they wanted to know where this information came from.

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.

Why Bitcoin's Price Surges and Drops Unexpectedly

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.

[cryptoaddictchie]

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.

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.

[bitzizzix]

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.

[abel1337]

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.

[TheUltraElite]

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.

[forexandcryptoauditor]

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.

[Quidat]

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.

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.

[$crypto$]

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. This is not clear, but some say this is a global elite manipulation.

I am still not convinced about this effect.

[DeathAngel]

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.

[wheelz1200]

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.

[goaldigger]

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.

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.

[Johnyz]

This is a game play by the Big Boys in the cryptocurrency industries, which is using any opportunity to hype the crypto market as a result of a sudden pump or unexpected cryptocurrency market movements, which is good in the industry, because the positive impact is very strong that makes Bitcoin make a such moved while still on the Bear market that makes the price pull back movements.

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.

[Dave1]

This is a game play by the Big Boys in the cryptocurrency industries, which is using any opportunity to hype the crypto market as a result of a sudden pump or unexpected cryptocurrency market movements, which is good in the industry, because the positive impact is very strong that makes Bitcoin make a such moved while still on the Bear market that makes the price pull back movements.

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.

[Traderbtcc]

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

[Husires]

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.

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.

[LogitechMouse]

~

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.

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.

[yazher]

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.

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.

[el kaka22]

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.