Bitcoin’s bull run may have slowed since the price fell $ 42,000 last week, but the pace of absurd crypto stories seems to have picked up.
Much like we saw in 2017, when a bull run begins, life in crypto gets more and more bizarre. Maybe that’s because retail is finally here, with social media interest in Bitcoin reaching an all-time high last week.
The result is a hilarious combination of noobs trying to figure out crypto amid crazy memes, influencers giving out terrible advice, and faded celebrities shilling Bitcoin for cash.
Dogecoin up 163% and listed on three new exchanges
The joke cryptocurrency that won’t quit, Dogecoin (DOGE), apparently doesn’t need Elon Musk’s help to keep crypto holders interested. This week, the token was listed on the FTX and Huobi Futures exchanges with no apparent explanation. The price of DOGE has risen 163% over the past month as newcomers have entered the markets, to $ 0.0087 at the time of publication.
Lindsay Lohan wants to drive “lambos to the moon”
Numerous initial coin offerings in 2017 brought with them a number of celebrities who haven’t really shown their faces in the crypto realm since – for example, Steven Seagal, Paris Hilton and Floyd Mayweather. Actress Lindsay Lohan appeared in a crypto promo video this week mentioning Ether (ETH) and Bitcoin (BTC) and telling people to ‘drive your lambos to the moon’. We suspect his fascination with crypto lasted about as long as the video was filmed.
Ivan on Tech’s ‘Respect the Pump’ video
Crypto influencer Ivan on Tech became an instant meme Thank you to that hilarious video where he told viewers to “respect the pump” repeatedly and even invoked Star Wars by saying “may the pump be with you”. The social media star ended up saying ‘pump’ at least 12 times in less than a minute:
People pay to listen to this. pic.twitter.com/PKHXkuFHmh
– KALEO (@CryptoKaleo) January 12, 2021
Regulators Warn Noobs Away From Crypto
Regulators also took note of the growing demand for Bitcoin at the recent rally and responded in the time honored manner. The New Zealand Securities and Markets Authority issued a warning to crypto users on Monday, saying they “should be prepared to lose all of their money”, calling cryptocurrencies “high risk and very volatile assets” . The UK’s Financial Conduct Authority made a similar statement, calling on people to be “risk aware” of cryptocurrency.
Using Astrology to Predict Crypto
Maren Altman, a self-described astrologer, author and entrepreneur, has told her Twitter, TikTok and YouTube followers that star charts can help predict cryptocurrency price movements. Well why not? She made waves on social media in December in saying it was a good time to buy XRP “because of astrology”.
His recent predictions on Bitcoin must be seen to be believed:
dates to watch for btc prices in January. pic.twitter.com/zKfa814zLH
– MAREN ⚔️ Ⓥ (@marenaltman) January 7, 2021
Less than two months ago, Bitcoin hadn’t even crossed the $ 20,000 barrier. Now, the crypto asset is regularly featured in the mainstream media 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