Bitcoin is immature because it’s hearsay?

Bitcoin is accused of being immature because it reacts negatively (or positively) to rumors. That is not true, and we have proven that with data.
The bitcoin market is not at all as immature as its detractors would like it to be. The rumor that circulated late last night that Interpol might be interested in CZ on Binance resulted in a loss of about 3% in the short term - a reason for those who think it is a financially immature market, driven and run by market suckers who can't tell the real from the fake.
That may well be true for those who have only recently entered the market, but in more traditional, mature markets, if you will, with a long history, fake news tells us otherwise: the market will be influenced by and react to news, whether it is true or false, as long as it is credible. Indeed, bitcoin's behavior yesterday was almost commendable.

Rumors: cross and market joy

Rumors and markets have a long history, going hand in hand since the first European stock exchanges emerged as soon as we emerged from the Middle Ages. A timely reaction to negative or positive news provides a huge economic stimulus that ultimately dominates traders.

Steve Jobs and the heart attack that never happened

On October 3, 2008, it was reported through iReport, a CNN-affiliated site that publishes user news, that Steve Jobs, then CEO of Apple, had suffered a heart attack and had been transferred to the intensive care unit. The news went viral, and within minutes AAPL's stock price lost double digits. There was nothing substantive behind the rumors, and they were neither confirmed nor denied by anyone directly involved.

Oracle stock price falls as CFO resigns, and he doesn't

What happened to Oracle's stock price in November 2000 was unbelievable. In the same time period, there was a double whammy: first the erroneous trading on Nasdaq, and then the rumored resignation of the CFO. What was the result? First -29%, then -13%, the semi-final result. Again, rumors with no clear basis. And concerns about an overreaction from the market existed when bitcoin was still ten years old. In fact, ZDNET writes that with television and the Internet replete with market information, some of which comes from unknown sources, investors are vulnerable to market rumors.

There have been more sophisticated scams: the Emulex case

There have been more sophisticated frauds, such as the case of Emulex Corp. In August 2000, a former employee of Internet Wire, a press release broadcasting company, decided to issue a fake press release about the resignation of Emulex's CEO in order to recoup short-term losses of about $100,000. The news was reprinted by Bloomberg and many other news sites, causing the company's stock to lose more than 50 percent and reduce its market capitalization by more than $2 billion in 16 minutes.
The former Internet Wire employee was subsequently sentenced to more than 40 months in prison.
So there is a way and a way to report certain news. When we published information about the existence of certain rumors, we called them unconfirmed rumors without any misunderstanding and invited our readers to follow us to stay informed.