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RE: BTC - Curious what's causing the recent price drop?

in #bitcoin5 years ago

Damn scammers, there's too many of them, especially involving cryptocurrencies. It's unfortunate that these schemes still exist, but hopefully something large like PlusToken will be the last of the breed. That said, I've seen some reports (maybe the same ones you've went through), stating that the larger portion of their scam money have already been unwound. So, let's hope this eases soon, otherwise we could retest the $6,500 lows.

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True, though these types of Ponzi Schemes exist everywhere. It just seems to be more common in crypto right now.

Cryptocurrencies attract people who are not familiar enough with known scams and fall for promises... As all important exchange rates have tanked for almost 2 years, people are willing to take more risks.

Yes, there is that as well.