BTC is having the steepest pullback since its dizzying rise from $10,000. This was triggered yesterday due to several factors that occurred on Wednesday, January 20, such as the transition of the U.S. presidency. However, already today it is clear that the trigger for this correction has been the news of alleged double spending on the BTC blockchain by the BitMex Research news.
Said information has already been denied, since, precisely the success of Bitcoin and the Blockchain has been that it has posed the most certain solution so far, to avoid double-spending in digital money.
The reason for this is that the blockchain is a decentralized system, in which, in addition, there are rules and algorithms that make any type of fraudulent activity very difficult. What most likely happened with the news reported by BitMex is that it was a minor error in the blockchain software, which is also something that - for now - is one of the Achilles Heel of this new technology, but it is nothing serious.
From here it is easy to deduce that what has caused the news of BitMex has been a totally irresponsible act, which several analysts have already concluded that it has been with total intentionality to generate fear, uncertainty, and doubt (FUD) to those who have investments in BTC, sell their assets and then they have better opportunities to buy.
Proof of this is that smart money is still investing in Bitcoin: Greyscale, for example, bought back a good amount, Bitcoins are going out and not coming into the exchanges from the whales, etc.
Let this be a lesson to be careful with that news that wants to generate anxiety in the population, in order to have a clearer path to achieve their goals. And above all, an experience to reinforce what has repeated over and over again in the cryptographic world: do your own research.
