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Bitcoin’s recent surge has very little to do with algos and April Fools’ — here’s why

by Frank Chaparro

April 2, 2019, 3:22PM EDT  ·  3 min read

Quick Take

  • People keep saying bitcoin’s rally has something to do with a fake story about a bitcoin ETF
  • It probably has nothing to do with that
  • Here’s what’s actually behind it

by Frank Chaparro

April 2, 2019, 3:22PM EDT  ·  3 min read

Bitcoin’s eye-popping return to $5,000, its highest level in over five months, sent financial media and analysts into a tizzy Tuesday morning as they attempted to unearth the catalyst. 

The theory that picked up the most steam was that the rally was tied to an April Fools’ Day piece penned by Rachel McIntosh at Finance Magnates.