BTC Wires

Massive Mysterious Surge of Bitcoin Dark (BTCD) Has The Crypto Market in Shock

It has been a rollercoaster ride for the crypto enthusiasts who have had their eyes glued to the price ups and downs of Bitcoin Dark, which made a shocking hike after remaining dormant for a long time. Up until yesterday, the price of BTCD was a mere $20 until the highest candle that was recorded touched $100.85, signalling an almost 401.15% increase in price. It went up even further but then quickly came down, as can be seen by the 3 big wicks, which means that they were quickly dumped and sold.

So what is Bitcoin Dark? It is a cryptocurrency that dates back to almost 2014, which is when it was created to rival Bitcoin (BTC). Unfortunately, the developers’ team had abandoned this crypto at the beginning of 2018, and have now moved to the development of Komodo.

BTCD only trades on Poloniex and Trade By Trade and it recorded the highest price since May 11, 2018. It has taken quite a hit since then and currently stands at $77 USD. Which is why the trading volume data shows a huge spike too. It went from an average of about $100,000-$200,000 a day to approximately $1 million.

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BTCD uses a Bitcoin’s SHA-256 and the Proof-of-Work (PoW) & Proof-of-Stake (PoS) in place as a “hybrid” hashing algorithm. As mentioned before, the team abandoned the project earlier this year but they were reportedly set to produce 22 million coins this year.

While the reason behind this outrageous surge which happened entirely out of the blue, is not clear to many, speculation surrounds a pump and dump scheme that might be in place. The last tweet from Bitcoin’s twitter was back in May.