As evidenced by the iShares #etf announcement, fake news can have a huge impact on the cryptocurrency market. Following are some salient details from the search results:On October 16, 2023, false reports that BlackRock's iShares spot #bitcoin ETF had been approved drove up the price of bitcoin by 7% in just 10 minutes.The iShares spot Bitcoin exchange-traded fund's price increased due to the misinformation that spread throughout the #cryptocurrency markets.The market has been affected by misleading #cryptonews before. In the past, false press releases, social media posts, and other types of misinformation have defrauded cryptocurrency investors.The erroneous information regarding the iShares ETF was later proven to be untrue, and Bitcoin's price recovered to its prior levels.BlackRock's #iShares spot Bitcoin application is still being examined by the SEC, and the delays have extended the deadline for a decision until January of 2024.Before making any investing decisions, it is crucial to exercise caution and confirm the veracity of the news. False information can destabilise the market and result in substantial losses.