At least a few years ago, when there were bad news the prices would reflect that. As someone who was there and paid close attention, this is not true. E.g. sil

At least a few years ago, when there were bad news the prices would reflect that. As someone who was there and paid close attention, this is not true. E.g. silk road's closure didn't impact BTC for more than a few days, but everyone universally would've said it'd tank BTC's price.