The Bitcoin bull run may have slowed since the price dropped from USD 42,000 last week, but the pace of absurd crypto stories seems to have accelerated.
Just like we saw in 2017, when a bull run gets underway, life in crypto is getting weirder. Maybe that’s because the retail industry is finally here, with a social media interest in Bitcoin hit a record high last week.
The result is a hilarious combination of noobs trying to understand crypto amid crazy memes, influences dishing out terrible advice to the logistics and faded celebs donating Bitcoin for cash.
Dogecoin is up 163% and is listed on three new exchanges
The joke cryptocurrency that won’t quit, Dogecoin (DOGE), apparently doesn’t need the help of Elon Musk to maintain interest among crypto holders. This week, the token was listed on exchanges FTX and Huobi Futures with no clear explanation. The price of DOGE is up 163% over the past month as new entrants entered the markets, to $ 0.0087 at time of publication.
Lindsay Lohan wants to drive ‘Lambos to the Moon’
Many initial coin offerings in 2017 brought with them a number of celebrities who haven’t really showed their faces in the crypto sphere since then – Steven Seagal, Paris Hilton and Floyd Mayweather, for example. Actress Lindsay Lohan appeared in a crypto promotional video this week stating Ether (ETH) and Bitcoin (BTC) and tell people to “drive your lambos to the moon”. We suspect her fascination with crypto lasted about as long as shooting the video.
Ivan on Tech’s ‘Respect the Pump’ video
Crypto influencer Ivan on Tech instantly became a meme thanks to this hilarious video where he repeatedly told viewers to “respect the pump” and even summoned Star Wars by saying “let the pump be with you.” The social media star said “pump” at least 12 times in less than a minute in this short clip:
People pay to listen to this. pic.twitter.com/PKHXkuFHmh
– KALEO (@CryptoKaleo) January 12, 2021
Regulators are warning noobs away from crypto
Regulators have also taken note of the growing demand for Bitcoin during the recent rally and responded in the time-honored way. Netherlands Authority for the Financial Markets of New Zealand issued a warning to crypto users on Monday, saying they “must be willing to lose all their money,” referring to cryptocurrencies as “high-risk and highly volatile assets.” The UK Financial Conduct Authority made a similar statementand calls on people to “be aware of the risks” of cryptocurrency.
Using astrology to predict crypto
Maren Altman, a self-proclaimed astrologer, author and entrepreneur, has told her Twitter, TikTok and YouTube followers that star charts can help predict the price movements of cryptocurrencies. Well why not? She caused a furore on social media in December saying it was a good time to buy XRP “because of astrology”.
Her recent predictions about Bitcoin have to be seen to be believed:
data to keep an eye on for January BTC prices. pic.twitter.com/zKfa814zLH
– MAREN ⚔️ Ⓥ (@marenaltman) January 7, 2021
Less than two months ago, Bitcoin hadn’t even broken through the $ 20,000 barrier. Now the crypto asset is regular featured in major news outlets above the fold and Google searches are once again approaching their all-time high. The madness will only increase from here.
“Bitcoin Drops to $ 31,000” is a crazy headline when you think about it.
– Blockfolio (@blockfolio) January 11, 2021