A Bitcoin fork has dropped off a cliff after a massive spike that caused heads to spin last month.
On June 6th, “Bitcoin 2” suddenly exploded 6,565% in a matter of hours on surging volume that seemingly came out of nowhere. It happened just a week after the coin was listed on CoinMarketCap.
Bitcoin 2 just got listed at #Coinmarketcap – https://t.co/HIASPNGCOv#btc2 #bitcoinfork #proofofstake #zerocoin #masternodes #bitcoin2 #bitcoin
— Bitcoin 2 (@BTC2_Bitcoin2) May 28, 2019
Crypto traders soon classified the price action as a classic pump-and-dump, where whales can buy and boost the price of a coin with low volume in order to build hype and convince others to join in. Once the price rises, the whales then sell to pocket a quick profit.
In the weeks since the massive spike, which brought the coin from less than a dollar to a high of $29.27, Bitcoin 2 has steadily fallen to its current price of $1.87, according to CoinMarketCap.
![](https://dailyhodl.go-vip.net/wp-content/uploads/2019/07/Screenshot-2019-07-21-at-6.14.37-PM.png)
![](https://dailyhodl.com/wp-content/uploads/2018/06/Get-Alerts-728x90.png)