April Fool’s joke may be behind Bitcoin price spike

April Fool's joke may be behind Bitcoin price spike
An April Fool’s joke is believed by some to be behind a rally that sent Bitcoin to its highest level in almost five months on Tuesday. 
The prank, which first emerged on the website Finance Magnates, claimed the US Securities and Exchange Commission had approved “not one, but two applications for Bitcoin-based exchange traded funds” in a “shockingly sudden” decision by the SEC following an “emergency meeting”.

Not long after the article appeared, Bitcoin’s price resurgence saw it gain a fifth value within 30 minutes of Asian trading, breaking past the $5,000 for the first time since mid-November. It marked the biggest single-day increase for the cryptocurrency since April last year.

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