Making Money in a Pump and Dump Scheme in CryptoCurrency Exchangers
In my opinion all the coins in exchangers are in the pump and dump scheme, only that the regular coins just gets pumped in a more subtle way because of the volume because in a regular known pump and dump scenario, the coin has a low volume so the price just rises too quickly and then goes down where it started and we this thing happens regularly during the weekends when the majority begins to cashout or take profit. We also see it in Bitcoin movements when it takes an all time high or a peak, then it goes down again.
People knew about the movements and they jive in syncronicity sometimes that the price crashes or goes down considerably and it then will look like a pump and dump scheme in principle. A good pump and dump scheme for a coin is the regularity of the pump, meaning it would pump in every few days and you basically have the opportunity to make a position to sell and not find yourself a "bag holder."
If you want to make money from a pump and dump scheme. Just don't be too greedy, observe the coin, it's history and price movements. You should also make a plan to take profit at a particular price point and setting a stop loss for sell because the coin rises and then goes back down. It never lingers above so you will miss it if you did not sett up a sell order.
A bad pump and dump scheme is from a coin that will pump and dump and then the coin is abandoned, leaving the "bag holders" either sell for a loss or eternally hold the coin with a hope that maybe the coin will pump again so that they can finally sell their coins. This is very risky unless you know what you are doing.
We must remember to never chase a pumping coin whether it may either be a major coin or a "shitcoin" and hoping that will get into a price that you wanted. The best thing to do if you would chae a coin is just to take a small profit unless you believed in the coin that will rise in value in the future, then you can just leave it there as an investment to be sold at a later time.
Pump and dump :) I can only imagine how many coins will survive out of 600+ in 5 years lol Thanks for sharing
And how many more will be created ;)
lol followed ya
This is really informative and thank you for sharing it with the community. I believe that most of the coins i buy have the potential of going up in value in the next few years but i also buy and place a sell order for some coins to make profit and i do most times. Its really amazing when you understand the market and know what to do when to do. Personally,i believe when people are selling their coins in panic (which will happen very soon) ,there is your chance to profit more by buying a cheaper price because the prices will go up again by all means
Yes @kwakumax almost all coins will go up in value since they are correlated to the BTC movement as the chats clearly shows and BTC now is poised to go to the next level of price surge so getting some coin will give you profits guaranteed.
Im definitely investing in BTC before the end of july.
its worth reading i upvote you
Very risky stuff.