BSV has more than doubled overnight from circa $120 to $250 through what looks like some frenzied trading based on fake news.
It looks like people in China were circulating a fake “article” that was made to appear to look like it comes from established news media.
What’s more, newsmedia in China apparently doesn’t add links to the content they share, so giving much opportunity for plenty of confusion.
It says “CSW transferred 50k BTC from the biggest BTC wallet to Binance, which confirmed he is the real Satoshi. As such CZ will re-list BSV and make an official apology on Twitter.”
That the above is fake has been confirmed by Changpeng Zhao (CZ) himself who stated that the recent price jump is “caused by fake new circulation in China. I got pinged 20 times today, clarifying it is fake.”
The price action however was real, with it rising fairly quickly, plunging at one point, rising again, in a night of frenzied trading:
You can see there at one point price dropped from $240 to less then $50, with it up again now to about $210 at the time of writing.
There was another jump on the 21st of May probably due to another fake news by Craig Wright (CSW) claiming copyrights of the bitcoin whitepaper because he still goes on about being Nakamoto.
That apparently has been denied, but the publicity it got can’t quite be rolled back.
Same as here. Fake news or not, the fakeness of it is real news and real publicity. Hence why we have all these laws and “protecting investors,” but obviously Kin is more harmful to the public.