It’s April 1st, and the crypto space is again rife with April Fool’s jokes that could impact some coins’ trading values.
Earlier today, CCN reported on some of 2019’s best pranks and one instance of a joke crypto rallying 20 percent. But could April Fools’ Day pranks have greater impact on crypto investors than the jokesters realize? Historically, blockchain’s community of nerds have embraced the annual prankster tradition with a variety of tweets, blog posts, and articles.
April Fools Day Jokes Could Cause Detriment
While every good trader knows the importance of planning the trade, trading the plan, and keeping emotions out of it, that’s often much easier said than done. Especially when it concerns your money. Below are 3 of the most cringe-worthy crypto April Fool’s Day jokes that could have actually impacted daily trades.
3. OneCoin Dethroned Ethereum as Second Largest Crypto
Another year, another April Fools’ Day.. | Source: Shutterstock
On April 1, 2017, CoinDesk reported radical news that could have shaken the crypto ecosystem into a panic had readers not read the article in its entirety. CoinDesk claimed that a federal judge ruled that OneCoin was a legitimate and legal cryptocurrency. As such, the judge ordered coinmarketcap to list OneCoin. Thus, the article proclaimed, OneCoin would overtake Ethereum’s second place position on the hierarchy of cryptocurrencies by market cap. Beyond that, this federal order would have demonstrated heavy government involvement in what was supposed to be a decentralized space. Each of these news proclamations may have been enough to emotionally motivate some investors to throw out their trading plans. But the article’s final line provides redemption:
“Unprecedented price volatility is far from being expected in the next couple of days across major cryptocurrencies because this is just a huge joke!”