An April Fools Joke Circulating on Telegram Pumps BTC
A screenshot of a 500000 BTC movement on Bitcoin's blockchain valued at $2B USD has been popping up. The image has surprised many in Bitcoin Telegram and WhatsApp groups as well as Twitter.
The image seemed to suggest that big institutional clients were either planning on pumping or dumping BTC. Although that depends on whether you're an optimist or pessimist.
Unfortunately or fortunately, after some minor investigation the image appears to be a hoax as no date appears. The transaction in question actually occurred but was from 2011. At the actual time of the transaction, November 2011, the amount transferred would be valued at roughly $1M USD.
You can find more information on this transaction on Blockexplorer.
Crypto groups have long been filled with memer's, jokers and interesting characters. In the past there were several related April Fool's Day pranks & hoaxes.
During April's Fools day 2017 in an official blog post of Ethereum, they have made several joking declarations. This includes "Proof of Vitalik" transaction reversion algorithm & an announcement that the core dev team is relocating to Pyongyang, North Korea. It 2018 in a different blog post, Ethereum declared that it is releasing a stablecoin called World Trade Francs or WTF token.
Possibly correlated to the jokes & memes, Bitcoin has strengthened by 0.83% today and appears to be rising.
One can expect many more April's Fools jokes & humor in crypto groups. Especially on a day like April's Fools Day, traders need to be extra vigilant with their sources and double check every piece of information.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado