TL;DR Breakdown
• Kroger denies the false advertisement about using cryptocurrency in its stores.
• Bitcoin Cash lost 0.2 percent of its value after Kroger’s official announcement.
Recently news about Bitcoin Cash and its possible adoption within the Kroger chain are false. A supposed announcement published during the week indicated that the supermarket line in North America would accept the BCH token as a payment method. However, it was all a scam.
The Cincinnati-based company clarified that they are not accepting cryptocurrencies and that the announcement was false news. Cryptos are exposed to many speculations, scams, or possible misunderstandings as they gain popularity worldwide.
Kroger denies Bitcoin Cash announcements
In the first week of November, an alleged announcement that Kroger, a supermarket chain in the United States, would accept the Bitcoin Cash token as payment. This news attracted customers because it is a very popular grocery store and would improve its efficiency by accepting cryptocurrencies as payment. However, in later hours, the company’s manager denied this statement, stating that they would not accept the cryptocurrency for now.
The false news said that Kroger would accept Bitcoin Cash in the holidays in its over 2,000 stores and related firms such as Fred Meyer, Baker’s City Market, QFC, among others. This news caused the token that investors ignored to gain priority because a possible rise in its price was approaching after adoption. The company wrote an official statement within its website where it denied that it would accept the cryptocurrency.
Since yesterday, this false news affected the token’s value, trading at $605.99 and reaching $594.91 after Kroger’s official statement. But BCH has maintained a balanced chart ranging from $590 to $600 in recent weeks, according to CoinMarketCap.
False crypto advertisements
False advertisements about cryptocurrencies have been happening in the last months with other brands like Walmart. It was announced that the multinational store would accept Litecoin as a payment method during the year, but the company denied this news. This official announcement brought disappointment among LTC investors as the token suffered a loss in value.
Cryptocurrencies such as Bitcoin Cash will always be exposed to this false news, which is unknown who originally published it. However, the news has also worked for investors to consider this cryptocurrency.
Bitcoin Cash has positioned itself at number 21 among the most used cryptocurrencies, according to CoinMarketCap. The BCH token maintains a value of $595.35 today, November 5, increasing 0.35 percent of its price in the last 24 hours. The token is expected to change its balanced chart to a bullish one following a possible adoptions wave.
