Just a couple of days ago, Bitcoin was selling at $1,826 and now is selling at $2,863. Over a $1,000 increase. What does this mean? Are we seeing a major pump and dump scheme playing out?
Some have said they expect a Bitcoin to go up right before the August 1st deadline and then a major sell off at the last minute. That may be happening, but it seems a little early for it. If some are planning on pumping and dumping, then how far can Bitcoin go? Could it bounce up to $3K again or push higher to $3,500 before a dump? I don't know how high it can go?
The market is behaving like it normally does, ups and downs for no real logical reason. It comes down to the people that have a lot of money to help pump and dump at certain times.
It could be that the recent sell off was so low, many people started buying into it. Or maybe people listened to John McAfee and bought in to help bring the price up so he doesn't have to bite off his manhood on TV. Nobody wants to see that.
(all gifs from www.giphy.com)
Who knows what is really going on? If you do, let me know in the comments, but Bitcoin gaining over $550 dollars in the last 24 hours seems a lot like pump to me. I'm just worried about the dump. Is anyone else?
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