Ever since we started out as a news site, we have mostly focused on Bitcoin and general aspects of the cryptocurrency market, without covering much about altcoins, regardless of the fact that some are getting quite popular.
However, ‘quite popular’ shouldn’t be the phrase used right here, as Paycoin has recently become astonishingly popular, in an unprecedented move that is bound to shock the cryptocurrency environment from all the points of view. The latest reports posted by exchanges from all around the world, showed the price for one paycoin at $15, which is amazing when considering the fact that the same amount was valued at $0.55 in the last couple of days. This is beyond BREAKING NEWS, as no one has anticipated that such an event will occur.
This strong volatility of the coin does not really have anything to back it up, but one thing is certain- those who already had some paycoins stored just become RICH! Economic analysts from all around the world who are outraged have also said that the value is thought to go above $20 in a matter of hours from now, which represents a price increase greater than any that other cryptocurrencies have faced until now and will probably do in the future.
When asked to comment about this, Josh Garza, the embattled CEO of a mining company, but also the founder of Paycoin has stated: ‘The prices are increasing and the number of cars that I own is doing just the same’!. This thought out, yet baffling comment came just a few minutes after he posted a picture with 3 new Ferraris over on his Instagram, which he reportedly just purchased with the help of paycoin.
The unexpected paycoin price increase will not only make the coin a lot more popular, but it will also encourage others to invest capital. For those who already had paycoins stored, things may be a little different, as most will most probably decide to sell, while those who are a little more daring will decide to hold on to the currency until its value increases even more. While trading paycoins at this moment is dangerous, the number of transactions on the Blockchain has skyrocketed, and if it continues like this, chances are that the total number will bypass the total no. of daily Bitcoin transactions.
Based on everything that has been outlined so far, the unprecedented and unexpected value increase for paycoin yet again proves the volatile state of cryptocurrencies, and the possibility that all of those who have already invested have of becoming rich overnight.
On that bombshell, feel free to start investing in paycoin, but also to sell what you have already acquired, but don’t forget that it is APRIL FOOLS!