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 disagree 👎, Bitcoin price had nothing to do with ransomeware, it's got a bad name due to it. Bitcoin price work on a simple rule of demand and supply. So the ransomeware coincided with the high demand period hence the price hike, and the existing users sold to cash out making a huge profits hence the fall. No effect of ransomeware, the funny point is people are not talking about ransomeware any more, Bitcoin taken the centre stage and that's not good cause it's not for right reasons. You can study more on the economic section.