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 do not think that the current increase in price of Bitcoin is due to the recent Ransomware attack. I think it is more on the global adoption of Bitcoin. Besides ransomware attack were concentrated not on the countries that have the highest volume of bitcoin trading.
Probably this has an effect on the dump since people involved in this attack would probably converted the bitcoin they receive which is the possible reason of the dip in bitcoin price.