CALIFORNIACOIN IS DEAD, SO WHY DID THE PRICE RISE 900%?

CaliforniaCoin was a run-of-the-mill altcoin that hoped to capitalize on the media attention surrounding bitcoin investor Tim Draper’s ‘Six Californias’ plan. However, Draper failed to acquire enough signatures to get the proposal on the California ballot. CaliforniaCoin suffered a similar fate, and the developer eventually abandoned the project. A core group of investors tried to revive the project, but they have since gone silent as well. Nevertheless, the CaliforniaCoin price rose 900% during the past week – but why?

This post was published at Crypto Coins News on November 25, 2014.