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.



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.

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

[cryptoworld1]

Why Bitcoin's Price Surges and Drops Unexpectedly

The crypto market sprang back to life with bitcoin's surge to nearly 5-month highs yesterday. But why?
To those who have been paying attention to the charts, it shouldn't come as a surprise. The leading cryptocurrency by market value jumped nearly $1,000 to $5,080 in a 60-minute window early on Tuesday, confirming a transition from bear market to bull market that it had been signaling for some time.



For more Information Here https://www.coindesk.com/markets/2019/04/03/3-reasons-bitcoins-price-suddenly-surged-back-to-5k/

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