So I have just heard that the pump or rise in bitcoin value was due to the recent Ransomware attack. And after the recent drop, it makes sense too, I mean the price went up considerably as the demand of bitcoin went up, and now probably they are cashing in their rewards and hence the value is going down.
What do you think?
I think investors are just cashing it out as you pointed. Ransomware has nothing to do with the pump. The hackers was able to get only a few thousands. Months ago, we say that the mental price barrier to sell is $2000, but we didn't experience a massive dump then, maybe a few price corrections. But when the price reach $2700 or more, big whalers started to dump cashing in and sleeping with huge profit in their wallet. So I guess the mental barrier switch from $2000-$2500-2700. So we are back to $2000 now I'm speculating that we may experience some buying back again in the next couple of weeks. Ransomware or not, dumping is inevitable. Its that the dumping price has change($2500-2700).