Einsteinium Shows Us How to Pump & Dump

All jokes aside, this really was the perfect example of "buy the rumor, sell the news". In this case, sell an hour before the news.

A few weeks ago, Einsteinium announced that a mind-blowing announcement would happen on December 19. Speculation about the announcement ranged from partnerships with Apple and Tesla to quantum resistance.

Yesterday, Einsteinium tweeted the announcement would take place at 12PM PST.

As expected, price started pumping a few hours before the announcement. With fifteen minutes to go, EMC2 dumped and lost 50% of its value.

The announcement came a few minutes after 12PM. The news involves an ASIC-resistant/GPU-friendly algorithm change and future masternode implementation. While the news is technically good, it really didn't need a pre-announcement.

This was an obvious pump and dump from the Einsteinium team. The lesson here is... don't trust pre-announcements. It's almost always going to end in flames.