A Group Of Newbies Traders Cant Move The crypto market

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

Quote from: Twinkledoe on February 12, 2021, 12:09:31 AM

A lot of them are what you called pump and dump coins. In most cases, those coins are very easy to manipulate with as their market cap is also small. So these devs can control what will happen to the market performance in favor of their ill intentions. Usually, those pnd coins are short lived as once the devs got their targets, they will disappear and very hard to reach out anymore.

Most of the time, yes. But not 100% of the time. You can literally have the best cryptocurrency project since the dawn of humanity but it can still be pump and dumped(even without the project team involved) if there isn't enough liquidity. It's the same with stocks or literally any other illiquid asset.

cryptoaddictchie

legendary

Activity: 2268

Merit: 1379

Fully Regulated Crypto Casino

That's only possible if a newbie on crypto market let's say 5 people is like a really rich guy like Elon Musk even they are newbie with just one Advisor that is expert on market this is possible. However if you are talking about a literally newbie then that's not even possible best term is like what most said. "Pimp and dump" group.

Twinkledoe

full member

Activity: 1904

Merit: 138

★Bitvest.io★ Play Plinko or Invest!

Quote from: mk4 on February 11, 2021, 11:51:21 PM

It really depends. When talking about something as big as bitcoin, it will take A LOT of money to potentially manipulate it to some extent.

On the other hand, some low-marketcap altcoin in the #300 CMC spot and higher(you know, those altcoins that barely anyone knows and heard about), it's probably just going to take a single market buy using a few hundred dollars to spike up the price with a huge green candle.

A lot of them are what you called pump and dump coins. In most cases, those coins are very easy to manipulate with as their market cap is also small. So these devs can control what will happen to the market performance in favor of their ill intentions. Usually, those pnd coins are short lived as once the devs got their targets, they will disappear and very hard to reach out anymore.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

It really depends. When talking about something as big as bitcoin, it will take A LOT of money to potentially manipulate it to some extent.

On the other hand, some low-marketcap altcoin in the #300 CMC spot and higher(you know, those altcoins that barely anyone knows and heard about), it's probably just going to take a single market buy using a few hundred dollars to spike up the price with a huge green candle.

Atek33

jr. member

Activity: 462

Merit: 1

Of course I think those who trade in different trading marketplaces need to move to cryptocurrency because they can easily buy and sell new coins from there they can definitely benefit from training they can easily learn everything about cryptocurrency I think

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: adekogbe on February 11, 2021, 05:44:32 PM

That's is because in the crypto markets a thousand people can perform analysis together and collectively decide to pump or dump a coin and the trade will still go against them..

This is the definition of a "pump and dump" group which are actually very common in the altcoin market. In fact it is not at all hard to pump and dump majority of altcoins, depending on the size of the altcoin it requires a bigger and more experienced group. For example big altcoins such as ethereum have bigger pumpers that have millions at their disposal thanks to the 72 million premined coins they had but smaller altcoins with low volume could be pumped by anyone with very small amount of money like 0.01BTC even.

Charles-Tim

legendary

Activity: 1512

Merit: 4795

Leading Crypto Sports Betting & Casino Platform

Quote from: adekogbe on February 11, 2021, 05:44:32 PM

When it comes to trading the financial markets i dont agree with the saying "2 heads is better than 1"

You can actually gain from a friend or from someone that have experience, but you yourself is not complete if you do not know the A to Z of trading.

Quote from: adekogbe on February 11, 2021, 05:44:32 PM

That's is because in the crypto markets a thousand people can perform analysis together and collectively decide to pump or dump a coin and the trade will still go against them..

That is called manipulation. There are many people that have gained through pump and dump, but they are scammers.

Quote from: adekogbe on February 11, 2021, 05:44:32 PM

This happens a lot, time and time again, that is why its better to always seek first the knowledge of trading, that will take you much further than collectively deciding to pump or dump a coin as newbies

You are right, traders needs to know about how to trade, and also have the full experience. But, not new traders are pumping and dumping coins, it is part of scam means of having the larger gain while investors (especially the late investors) will lose.

That is why we should go for cryptocurrencies like bitcoin that is not subjected to pumping and dumping.

adekogbe

member

Activity: 854

Merit: 21

When it comes to trading the financial markets i dont agree with the saying "2 heads is better than 1"
That's is because in the crypto markets a thousand people can perform analysis together and collectively decide to pump or dump a coin and the trade will still go against them..

This happens a lot, time and time again, that is why its better to always seek first the knowledge of trading, that will take you much further than collectively deciding to pump or dump a coin as newbies

Topic: A Group Of Newbies Traders Cant Move The crypto market (Read 142 times)