On January 9th, the SEC’s official Twitter account made a surprising announcement regarding the approval of Bitcoin ETFs for listing on all registered national securities exchanges. This news sent the price of Bitcoin soaring by $1,000 in a matter of minutes, as investors reacted to the potential mainstream acceptance of the cryptocurrency.
However, the excitement was short-lived as the SEC quickly regained control of its account and deleted the post, stating that it was false information. This caused Bitcoin’s price to plummet by $2,000, leaving traders and enthusiasts bewildered by the sudden turn of events.
Despite the rollercoaster ride in prices, the incident highlighted the market’s sensitivity to regulatory news and the impact it can have on cryptocurrency valuations. As the debate around Bitcoin ETFs continues, investors are advised to exercise caution and stay informed about the latest developments in the industry.
