Over 6000% rise?!

valderrama (58)in #cryptocurrency • 7 years ago

Everyday I receive an e-mail from my buddies over at Cryptocompare. I've created my portfolio on their website, it's pretty awesome and easy to use. The platform takes the average prices of several big exchanges to inform us about prices of cryptos.

In the daily e-mail I get some news and info about market risers and losers. Many times I check out the market risers section and I'm amazed. Here are three examples:

Personally I've never ever even heard about all of the cryptos above. But... rises over 6000%?! Over 4000%?!

How does one even get to know about these cryptos?

How does one even get to buy these coins?

I once saw a report from Cryptocompare highlighting WITCH because it had risen over 9000%! But when I tried to look it up on their own website it wasn't even coming up as an indexed crypto...

I'm curious if anyone reading this has any insights in one of these cryptos.

Feel free to upvote, comment and resteem. And, as always... keep up the good work!

#blockchain #news

7 years ago in #cryptocurrency by valderrama (58)

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shslr (40) 7 years ago

Pump and dumping goes on. Those coins have such low market caps then you can move the price massively. A couple of months ago I bought heat at about 5-6 cents when it got to 10c I have sold it and I have moved the price just by myself back to 5-6c. I have a couple thousand of dollars there only. Crypto is a small market especially if you take coins that are not in the top 100. One person with big $ can invest in a coin and you have a huge raise in price. You don't hear about them often because they are usually crappy coins and the smallest are not even indexed, they exist only on small exchanges where it is not even recommended to keep money at. Just my thoughts.

$0.24

2 votes

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skririm (52) 7 years ago

Some of those coins have such a low market capitalization that they become really easy to manipulate. Even with a few dollars you can make the price go up 1%. That's why I recommend you to only invest in coins with a marketcap above 500k use! I guess these are some examples? There are also groups outside there doing so called "pump and dump" together. They arrange that everybody starts to buy at a specific moment, hoping other people (outside their group) start to buy these coins to and then when everybody is buying, they sell. But watch out, the people organizing this already are selling while they say the group needs to buy! A lot of scammers out there!

$0.00

1 vote

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