Bitcoin market analysis on 10.16:

Today, Bitcoin suddenly jumped a thousand points in one minute. I thought about it carefully and realized that 90% of the probability of this surge was driven by news. However, I read a lot of news, and the most likely one was grayscale. As for the news, the news about gbtc switching to spot ETF is currently circulating on the Internet, but I thought about it carefully and thought that the probability of this news is false news is high, and the probability of deliberately going up to sell short orders is high. The reason is actually very simple. The time is wrong. Grayscale belongs to a company of Beautiful Country, and sec is an organization of Beautiful Country. So today’s big break is at 1 pm Beijing time, midnight of Beautiful Country, and that company sent a message in the middle of the night. So I concluded that this news is fake news.

But to be on the safe side, wait until night, especially after the brow bone opens, that is, after Europe and the United States get up, to see their reaction. If there are indeed signs of fake news, it is not too late to go short, which is safer. Including the stock price of coinbase and see if there is any reaction. Generally speaking, based on my experience, fake news usually comes down as it goes up.