Three things that are most vital to everyone in web3
Connection
Knowledge
Information
The last one there is wher the whales have the edge, they get insider information and can manipulate the information you get, just like the Bitcoin ETF fake yesterday that sent many to trenches.
The news of the Blackrock's Btc ETF has been flying around since yesterday and for those that still don't get it, let me break it down.
@BlackRock is one of the largest asset managers in the world, and it's decision to launch Bitcoin ETF is a big green signal for institutional investors to the crypto market. BTC ETF can also potentially mitigate some of the risks associated with holding actual Bitcoin.
But how does BTC ETF work?
BTC ETF is simply a way for mainstream investors to invest in Bitcoin through their brokerage accounts, it is more convenient and familiar for traditional investors who are accustomed to trading stocks and other financial instrument on established exchange.
Now here is the misleading news.
BlackRock applied to SEC to trade Bitcoin ETF (exchange trust fund) as spot on their exchange, this application is still underway, but according to yesterday's news from coin telegraph, they said it has been approved by SEC, and this news immediately drove the price of BTC to 30k, SEC and @BlackRock have both denied this rumour and coin telegraph took down their post, but most people lost funds trading this news yesterday, but funny enough, an account belong to coin telegraph longed BTC and took profit at 30k making over $2 million in a few minutes trade of fake news. Or should I call it manipulated news.
In their response @Cointelegraph said that this is not a problem of journalism but rather they were trying be the first to publish the news which liquidated $65 million in market capital.
This is a reminder to always DYOR and do your due diligence. Filter the noise and buy the hype and sell the news. But you need your due diligence to know which news is fake,which is just hype and which is resourceful.
This is where I part to meet you again, just remember whatever happens today, is just a regular crypto Tuesday and I am ticktalker.
Stay SAFU
