Ten Years of Fake Crypto News: Market Wahala and Risk
Fake news about crypto don shake digital-asset market dem well well for the past ten years. From that 2017 4chan lie wey talk say Vitalik Buterin don die wey make ETH drop 32%, to the 2018 fake Goldman Sachs trading report wey wipe $12 billion from crypto market cap. For 2021, fake Walmart–Litecoin partnership announcement boost LTC through pre-planned option trade. More still, for October 2023, one early Cointelegraph tweet about BlackRock Bitcoin ETF approval make BTC jump 7% but e reverse after dem talk am back. For January 2024, SIM swap attack catch SEC Twitter account and e briefly push BTC to $47,680 before e sharply fall. These lie tori campaigns dey use traders mind dem take scatter market wahala, come also create short-term arbitrage and trade chances. Even though market don dey mature and e reduce long-time impact, traders suppose dey alert, confirm source dem well and manage risk because fake news about crypto still dey.
Neutral
Crypto fake news dem don historically dey cause sharp, short-term price wahala, wey fit make people do arbitrage plus trade quick because dem go quickly use the rumor run. But e effect no too last; once dem expose say na lie, price go come back, e no go affect market long-term. Plus, more regulation and better check-ups don reduce how this kain manipulate plan fit last. So, even though traders fit make money from short-term price bounce, di overall market stand still neutral as crypto fake news kin still dey come and go without real up or down trend.