There are simply way too many theories of why the price of Bitcoin has gone up so much lately.
While some of them are pretty credible, this time we’ll try the absolutely worst ones. CCN has recently numbered the five worst theories that they found online for why the prices are up and we’ll show them to you now.
The Stars Aligned and The Prices Went Up
David Gerard, an alleged blockchain analyst and author, has affirmed that the reason for why the prices went up so much is because “both Makemake and Haumea are in Libra right now”. According to him, it is all about the alignment of the stars, whatever that means.
Makemake and Haumea are actually dwarf planets and, according to his theory, when they align, the inhibition of the crypto speculators goes down, which makes the prices go up. Makes sense to you? If it doesn’t, it’s probably because he was actually kidding about the industry’s invention of reasons for things like this happening.
Calvin Ayre Believes Scammers Are Elaborating a Massive Dump
Calvin Ayre and his Bitcoin SV crowd are always against Bitcoin (and also against the rest of the crypto community). Recently, Ayre used Twitter to affirm that people are using to pump BTC in order to dump it later for profits.
Because of this, obviously, you have to retreat to his terrible coin, Bitcoin SV. It almost sounds as if the scammers are not actually who he is saying that is scamming people.
His argument makes no sense at all. While they may be a dump soon (this is always possible), the truth is that he’s trying to lure people to Bitcoin SV, which just keeps losing positions in the crypto market since it was forked away from Bitcoin Cash (BCH).
You should not believe that BSV is the only safe coin, it is one of the least safe ones, actually.
The Death of Altcoins Is Causing Bitcoin To Surge
Some people on Reddit are arguing that altcoins are done and this is why people are moving to BTC instead of continuing to use them. According to the user u/gonzales82, the Initial Coin Offering (ICO) experience is simply over.
He affirmed that no one was actually able to deliver an actually good product via ICOs. According to him, Ethereum was a science experiment thar did nt deliver and people are starting to wake up now.
While altcoins are not living their finest time ever, the truth is that we are very far from collapse. There are several examples of interesting tokens and some tokens are up 200%, so this theory does not make a lot of sense.
Justin Sun Saved Bitcoin?
Another pretty bad one is the theory that the founder of the Tron Foundation, Justin Sun, actually “saved BTC”. He affirmed that it was him that did at the the TWN2019 event, which is happening in Amsterdam right now.
According to him, as soon as Binance was hacked, the value of the token was affected and it decreased from $5,900 USD to $5,700 USD. However, after he spoke about it and sent a donation, the price went right back, so obviously Sun is so important that he saved the whole market.
Some Writer Sold His Bitcoin Last Week
The article ended up on a humurous note by affirming that that the author actually sold his BTC and this is why the price was up. The truth is that no one is absolutely sure right now and we should all be very cautious before believing the words of any fake gurus.
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Bitcoin’s price is $6,446.68 BTC/USD exchange rate today. The real-time BTC market cap of $117.96 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $6.06 Billion and live coin value change of BTC 0.21 in the last 24 hours.
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