People were excited to find out that IGA, which is an Australian Supermarket chain, was going to start accepting Bitcoin payments. However, there was one problem. The headlines were not true. The original headline said that the only supermarket that would start accepting Bitcoin payments was Bowen Hills Queensland.
This is not the first time that there has been a fake news story about Bitcoin. A bunch of scammers caused the price of the Bitcoin SV to increase back in May. The price went from $114 to $223 overnight. It has returned to normal.
The reason that there are a lot of fake news stories about Bitcoin is because the market is constantly changing, says bitcoinist.com. One tweet can cause the market to go up or down. Traders are also the ones who are passing the rumors. Even if they do not think that the rumor is true, they may still pass it on to someone else.
Additionally, writers are also responsible for the fake news that is being spread. They are not fact-checking before posting the articles. Major news websites are also spreading fake news. In 2017, “Bloomberg” reported that Goldman Sachs was about to start a crypto trading desk. That was not true.
Reuben Jackson recently wrote an article for “Big Think”. He stated that people should make sure that they are getting their news from a reliable website. He also stated that many institutions will start to pull their money out of the market if it continues to fluctuate.
Scammers are creating fake news stories on purpose. They are even getting celebrities to endorse their products. They know that if they can get a celebrity to endorse crypto products, then they will be able to go viral. They can also use a logo from a credible news source to make the story look legitimate.
That is why if you see any news story, then it is a good idea to spend a few minutes googling it to see if it is true.
