Bitcoin Diamond is this week's biggest gainer, well sort of
Bitcoin Diamond is up over 100% in the past week.
Though, there is likely a major caveat to this price action.
First lets look at the action from the past 7 days on coinmarketcap:
As you can see, two separate spikes of over 100% in the past couple days.
The first of which came right back down.
However, it may not be quite what it seems...
There is some major price discrepancy between different exchanges regarding bitcoin diamond.
Check out the markets on coinmarketcap:
Binance and Huobi are showing significantly higher prices than every other exchange.
In fact, Binance is such an outlier that it isn't even being included in the current price.
(Notice the * at the bottom of the image)
This is often seen when wallets are disabled.
I have not currently checked to see if bitcoin diamond wallets are working properly or not at Binance and Huobi but from what I am seeing online, there is a good chance they are not....
A user on reddit says:
“SCAM pump n dump. Conveniently locked up coins on other exchanges as to keep buyers from getting in.”
(Source: https://ambcrypto.com/bitcoin-diamond-bcd-spikes-by-more-than-102-past-7-days/)
Again I have not verified whether the wallets are disabled or not, but this user seems to imply that they are.
Here is what the price jumps to from time to time when the Binance price gets included:
This is the kind of activity that makes people not trust the crypto markets.
If the exchange holds these coins, then runs the prices up knowing that no one can either deposit or withdrawal to affect the supply, they can then slowly sell off their stake at inflated prices and move into other coins.
While forcing other users who want to participate to pay the inflated prices.
We have seen this with Steem several times as well.
In fact, as I type, Steem is trading for over $3 on Bithumb while there are no deposits or withdrawals available.
Things that make you go hmm...
Stay informed my friends.
Follow me: @jrcornel
Hi @jrcornel I like this cryptocurrency and day today new launching cryptocurrency in bad news low currency Bitcoin y
Hopefully these are the lows, yes.
Very Interesting! And very shady 😩👎😩
If it's wreckable, wreck it!
Since I started trading with cryptos I've seen quite a few exchanges manipulate market prices with wallet disabling... HitBTC is one of the worst exchanges that is not based in Asia.
Some exchanges don't need to play with wallet disabling because they have so high minimum deposit limits or deposit fees that people can't or don't want to deposit more coins.
Yes, HitBTC is not a good one, especially in regards to steem. I think we are going to have much better exchanges by this time next year. The shady ones will be gone or forced to do things the right way.
Nobody can really force bad exchanges to fix their attitude towards users... Users won't switch to another exchange, because almost all exchanges, new or old, have had some kind of issues.
Agreed. Bittrex has been one of the best in my opinion.
Bittrex is pretty good but they have too high minimum deposit limit for Ethereum.
This is why you use coinbase, trusted and user friendly. Less coins available on the platform but it's worth it
Bitcoin Diamond is up over 100% thats really awrsome even in the market falling period. Now it's price 4.25$ with 87% rising, Really unbelievable. Thanks sir @jrcornel for the valuable crypto updates.
Though most likely much of that price increase isn't really real.
Very interesting. Thanks for keeping us up to date.
Stay informed my friends.
@jrcornel this week has been good for all crypto lovers but now Altcoins are falling but we all know they will rise easily.
thank you so much for this beautiful information
Usually bitcoin runs first, and then the alts follow.
Thanks for the updates
I think the money is moving from altcoins to bitcoin
Need new investors
Let’s wait and see
Yes, that is likely the trend. At some point hopefully that will reverse, but it may take a while before that happens.
@jrcornel You can read ....
I can type too!
Nice bro. visit also my profile @fariskhan
Many pump up are coming in that coin don't know what's the reason but time to stay away from it as the dumpers are on its way to dump it too very risky right now