The recent price jump up to $440 in less than 48 hours is truly an unexpected event. There is no obvious reason why the market is moving sideways, however there are a few theories that try to explain the current market.
MMM Global Republic of Bitcoin
The first theory is that the MMM Global Republic of Bitcoin is the reason why the price is rising. The ponzi scheme uses Bitcoin in order to facilitate the transfer of funds between one participant to the other. It was led by Sergei Mavrodi which laready led another ponzi scheme also named MMM back in 1989, which was established with the help of his brother Vyacheslav Mavrodi, and Olga Melnikova. The name MMM came from the combining the first letters of the original founders’ last names.
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