What is Bitcoin Vampire (Bitcoin Siphon)
What is Bitcoin Vampire? According to CCN, the price of Bitcoin has been steadil
What is Bitcoin Vampire? According to CCN, the price of Bitcoin has been steadily rising over the past few months, reaching an all-time high. It has been reported that due to recent market declines, some investors have chosen to convert a portion of their portfolio assets into cryptocurrencies to earn profits. This phenomenon changed in August 2017 when the price of BTC briefly surpassed $10,000. However, today in 2018, BTC has once again plummeted to below $9,000, reaching a low of $9,850. This indicates that many people consider Bitcoin to be a scam or a pyramid scheme, leading them to use it to attract more users into this industry.
Bitcoin Siphon
According to CCN, Bitcoin’s siphon (RippleInsider) pattern makes it the largest cryptocurrency in the market. This phenomenon has remained constant for most of 2019 as the market entered a relatively closed environment. However, rapid upward trends and sell-off behaviors subsequently appeared. For example, as the price of Bitcoin continued to rise, investors’ demand for Bitcoin also increased. Furthermore, according to data from CoinMarketCap, Bitcoin recently broke the $40,000 mark and reached over $69,000, setting a new all-time high.
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