Recently, a report emerged that indicated that Russia intended to invest billions in Bitcoin. The report by an Australian publication cited U.S sanctions as the reason Russia was turning to cryptos. Barely two days later, a top Russian crypto regulations executive disregarded the report as merely wishful thinking. It will be at least three decades before the global powerhouse invests in crypto, the official stated.
Such has become the nature of the crypto industry. After suffering a brutal 12 months in 2018, the industry has been desperate for positive and bullish news. And there hasn’t been a shortage of such news. While much of the news and sentiments have been factual, speculative and non-factual news has also been on the rise. Media outlets, social media and crypto analysts have all been found culpable.