Skip to main content

Walmart & Litecoin – How easy to manipulate crypto market?

Popular strategic investor Warren Buffet said in an interview in 2018 that crypto has no value and he will not invest in any cryptocurrency. In 2020, also Buffett was stuck to his opinion on bitcoin and others. The rise of cryptocurrencies in crypto markets is abnormal in these three years. Well-known companies and new investors showed their interest in digital currency. But some people are still suspicious of the volatility of the crypto market. One can assess the reasons for the bearish stock market, it is not possible to assess the bear market in crypto stock exchanges.


The most popular digital currency bitcoin flew-up in April and saw the ground in May this year. In April it touched highest 64K and lowest 30K in May. Two back to back Chinese crackdowns on mining of bitcoin was the reason for its downfall. One fake press release from a popular media house created a huge uproar in the crypto market. Globe Newswire published a press release announcing a partnership between the world’s largest retailer and the moderately used cryptocurrency. PR stated that Walmart is going to start payments with Litecoin to its customers. Adding to the fuel to fire, several other media houses covered the story without trying to know the nitty-gritty of the news. That caused a sharp rise in Litecoin price in the crypto market.


But within an hour, Walmart denied the statement, erasing any gains the coin had achieved. Litecoin also confirmed later that the statement was false. America’s biggest retailer also said it would be investigating the fake press release announcing a partnership with Litecoin which was also said the hoax was being investigated. The damage has already been done within 60 minutes. Litecoin rises 30% up and falls down later after Walmart denied the news. This is the latest example of how to easily manipulate digital currency prices in the market. Litecoin's overall market capitalization is around $12 billion. Litecoin is the 16th biggest cryptocurrency in the world digital market cap. Litecoin said that the hoax was being investigated but little progress had been made. These incidents certainly not encouraged newcomers to look towards cryptocurrencies.

 
Labels:

Comments

Post a Comment

Popular posts from this blog

Photo : Savitri during her last days

Even after 4 decades of her death, people are very much interested to watched her (Savitri) biopic. Mahanati turned to be stupendous success. On eve of remembering Savitri, here we posted Savitri photo. The photo seems her last days. The man stand behind Savitri is Gemini Ganeshan who married Savitri. It seems that she suffered bad days during her last days.
Post a Comment
Read more

Suchi Leaks Next Target - Samantha

Wikileaks created huge political uproar among Indian Politics and Bureaucrats. Suchi leaks causes disturbances both in Tollywood and Kollywood. Female Singer Suchitra discloses personal issues of celebrities in Telugu and Tamil. She leaked few photographs of Heros and Heroines who spend their personal time in private parties. Karthik, husband of Suchitra responded on leaks that she was not mentally firm. Few actors in particular Tamanna, Trisha, Dhanush, Anirudh and Rana were feel uncomfortable on these leaks. Trisha reacted on Photo of Rana who kissed her said that it was just peck between two friends. There was nothing more beyond that. Suchitra said that she was raped by Dhanush and Anirudh after the party in the night. In her another leak, Tamanna was too raped by Dhanush. As per buzz, Suchi's next leak will be related to Heroine Samantha. Earlier, Samantha had love affair with Hero Siddhartha. Both were participated in Rahu-Kethu pooja in Srikalahasti. There were many go...
Post a Comment
Read more

Girl signed on 100/- Stamp Paper for getting 5K!

YSRCP Govt gave notification for more than 2.6 lakh jobs for Village Volunteers and was selected through interview process. All unemployed youth from SSC to Graduate were applied for the posts. 
Post a Comment
Read more