Every Bitcoin bull market is followed by a huge wave of scams. Scammers try every possible way to exploit the general public’s lack of understanding of what Bitcoin really is, taking advantage of both ignorance and greed. Bitcoin is too abstract for many people to grasp without knowledge of both economics and some technical understanding.
Bitcoin bull market is followed by High wave of scam because the slow to act people or the doubters get energized about bitcoin during the bull market making bitcoin the center of attention.
But the truth remains that the bitcoin scam cycles happens all year long but scammers encounter greedy and ignorant people more during the bitcoin bull market wave.