Crazy Pump: Bitcoin 2 Price Skyrockets 700 Percent

  • Alex Dovbnya
    📰 News

    While Bitcoin struggles to rebound after its most recent price pullback, its new fork steps into the breach  


Crazy Pump: Bitcoin 2 Price Skyrockets 700 Percent
Contents

Bitcoin might have had a huge 100 percent rally in 2019, but it has been completely dwarfed by its new fork, Bitcoin 2. The price of BTC2 spiked by more than 770 percent, which allowed it to enter the CoinMarketCap top 100.

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Bitcoin sequel is here!

 The fork, which has been under the radar since its very inception, allegedly deals with all major pain points of Bitcoin.

Bitcoin 2 is a fully anonymous cryptocurrency that utilized the ZeroCoin protocol (for comparison, Bitcoin is pseudo-anonymous, which allows tracking all transactions). BTC2 also offers higher lower fees and 40x faster transactions.

To top it off, you can also run your own masternode for nearly instant transaction confirmation. You are required to have 1,000 BTC2 ($1,960 at the time of writing) as collateral.

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Pump-and-dump

The whole thing almost definitely seems like a coordinated pump-and-dump scheme that was designed to scam those who came late to the party. 80 percent of its volume came from Estonia-based Crex24, which has a rather questionable reputation.   

At 14:44 UTC, BTC2 reached its current ATH of $4.06, thus allowing its market cap to surpass $70 mln. As of now, the coin’s price is at $1.96.

Bitcoin 2 makes up for its older brother   
A textbook example of a pump-and-dump scheme, image by CoinMarketCap
Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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