Days later, April begins and there is something we need to remind especially inexperienced investors. April 1st is taken very seriously in some parts of the world as a joke day. Some cryptocurrency teams are jokingly trying to turn this date into an “opportunity” for speculation. Since the market has been boring for a long time, absurd developments may occur in the coming days.
April 1 and cryptocurrencies
many times in the past cryptocurrency teams announced major partnerships and announcements on April 1. Prices rose and then plummeted when it became an April Fool’s joke. But the losses investors suffered during this volatility were no joke. Since many investors, especially in futures transactions, have been liquidated by such events in the past, it would be in your advantage to be skeptical of the “big” announcements that will come on Wednesday.
Considering that short-term investors wait for April 1 to trade news, it is possible that the same story will happen this year. If you are going to take a position with awareness of this, it would be appropriate to determine your stop level well and thoroughly analyze the risk you are taking.
Crypto April Fools’ Days in History
There are many examples, for example the year 2024 on April 1st JuiceBox’s content manager shared news that the Ethereum-based crowdfunding platform has completed a $69 million investment round with the support of cryptocurrency venture capital firm Paradigm. JBX Coin then rose rapidly, losing more than 20% when the truth was revealed. Here is the memory of those days.
In 2024, founder Sasha Ivanov announced that they would change Waves’ name to “AI” and merge with GPT. People who did not think that the founder of Kokoca Waves (under the conditions of that day) would lie about such a thing believed this. And there was a lot of reaction afterwards.
Again in 2024 solana CEO Anatoly Yakovenko announced BunkerCoin, which “works with radio waves.” A meme coin with this name was immediately launched, and investors who wanted to act quickly thought that there was such a token and bought it. Investors who could not sell with a profit after a 4000% rise faced ruin.
In 2019, the news of BTC ETF approval was published by Finance Magnates. The news about the SEC’s approval caused losses, especially for algorithmic trading bots, triggered by the news. Even though this joke became true years later, it did not make anyone laugh under the conditions of that day.
In 2021, founder Charlie Lee announced that they would change the name of Litecoin to “BitcoinLite”. Volatility caused.
CMC in 2020, Bitcoin dethroned and placed Toilet Paper Token in the first place.
In 2017, Vitalik shared a blog post announcing that Ethereum would move to a “North Korean-style socialism” model.
In 2024, BitMEX Research claimed that GBTC outflows were zero, and in those days, these outflows were very significant. When it was later understood that the actual outflows were $303 million, investors reacted quite harshly.
Above is about the fact that India-based e-commerce giant Flipkart will now accept BTC. your sharing you see. It was a very good development for 2021. But this was also an April Fool’s joke.
In summary, do not immediately believe what you see on Tuesday and Wednesday (due to the time difference, these nonsense may start late on Tuesday).
