Post
Topic
Board Bitcoin Discussion
Re: Could Ransomware Be Driving Up Bitcoin Prices?
by
CryptoBry
on 24/10/2019, 06:23:54 UTC

Research is suggesting that the number of ransomware incidents has risen in 2019. The payment method of choice for the majority of this cybercrime is cryptocurrency, predominantly bitcoin. Could BTC price fluctuations be linked to the increase in this online nefarious activity?


Wherever Bitcoin is moving whether down or up, analysts will always look for possible reasons behind. And they usually have the skill in leading us to believe that one or two things can have a great effect on Bitcoin's price. Any demand for Bitcoin will always have an effect but whether the effect can be significant then that is another story. Ransomware has been spiking and most probably this can go on for a long time as long as we will have people and organizations falling victims to this crime and paying for it. However, on my assessment, this may not be significant not unless maybe 1% of the whole population who are online can be victimized by ransomware and majority of them are buying Bitcoin to pay the fees demanded by hackers. Attributing to something evil and unnecessary may not be doing good to something like Bitcoin, in the same way we don't really say that scams are contributing a lot to making the economy grow.