Why doesn’t my „Bitcoin to the Moon“ tweet push BTC to 110k?
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tldr; A hacked Twitter account of Paraguayan President Santiago Peña falsely announced Bitcoin as legal tender, causing Bitcoin’s price to spike to $110,450 before the hoax was debunked. The tweet, written in English and including a suspicious wallet address, was quickly flagged and denied by the Paraguayan government. The incident highlights the crypto market’s vulnerability to misinformation, as algorithmic trading bots and traders reacted before verifying the news. Paraguay has no official plans to adopt Bitcoin as legal tender, despite its prominence in crypto mining due to cheap hydroelectric power.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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Why doesn’t my „Bitcoin to the Moon“ tweet push BTC to 110k?
tldr; A hacked Twitter account of Paraguayan President Santiago Peña falsely announced Bitcoin as legal tender, causing Bitcoin’s price to spike to $110,450 before the hoax was debunked. The tweet, written in English and including a suspicious wallet address, was quickly flagged and denied by the Paraguayan government. The incident highlights the crypto market’s vulnerability to misinformation, as algorithmic trading bots and traders reacted before verifying the news. Paraguay has no official plans to adopt Bitcoin as legal tender, despite its prominence in crypto mining due to cheap hydroelectric power.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.