lot of coins getting pumped last days
for instance blackcoin pumped from around 6000 till 19000 in a few days
rumors of new powerful pump groups
still wondering : such short term pumps are good for long term health of coin, bad or neutral?
maybe someone has some insights
some gibberish I believe
I think it really depends on how high they take them and how bad they dump when they're done playing, if a coin is normally at 6k then pumps to 20k+ etc when they dump it leaves a wake of butt hurts that get suckered in making them feel scammed and then people start associating the coin as the "scam" (when really they just chose a bad entry point chasing pump/volume and get left with "the bag") so it can be bad. but of course theres good money to be made day trading and thats all a lot of people in alts are worried about high volume and decent volatility. if they stuck with a solid/innovative coin and did their game a lot slower over time then and maintained good volume then it could get a good coin noticed and that way there'd be long term money to be made trading and it would have time to build a strong enough community so when the group slowly exited the support would be happy their buy orders are getting filled.
I've had some really good days trading in high volume pumps and if I was a p'nd group and could keep that going on a coin that people would believe (or even better IS) worth the attention then I wouldn't see a need to dump the trading would be profitable enough for me... lol but I'm not greedy, and we know most of these groups and the people that follow their "waves" are driven by greed and don't have the patience to think about a long game like that when they can just dump and move on to the next coin. most seem to buy a new coin in it's first days then if it doesn't instantly pump with in a few days or a week they dump and say the coins dead or is a failure even when the dev seems to be working hard and has great plan/roadmap for their coin or if the dev/team is legit not hiding in anon land.
lol too many day traders and not enough investors in alts yet but I believe they will come with time and as btc becomes more and more well known, even tho btc's price is down it is getting mentioned on tv more and more, as people learn what it is (vast majority still don't understand it) the price jumps could be even more volatile and as most true btc believers think will stabilize at a much much higher price. the good/solid coins will rise vs fiat dollars while people will take fewer and fewer risks chasing flash pumps on newb coins in their first days, their btc will be too valuable to waste on the new coins that haven't proven themselves yet but the alts that have stood the test of time will look like solid investments.
as far as whether or not p'nd's are good or bad I think thats a matter of perspective and if you're a day trader just looking for volume to trade the there great (if you trade smart and get out with good timing) but most alts communities aren't "deep enough pools" for the kind of volume the groups dump, then when their gone volume drops like a rock and even more traders exit which leaves any community members that really believe in the coin a long road to recover and slowly climb the ranks again to find it's real floor.
my theory is hold what you feel has potential whether that is based on innovation or the legitimacy and longevity of devs/team. and trade where/when you see opportunity.
for new coins right now I like GPH, TEETH and SHELL as a good underdog and older coins like AC or MINT can do magic and have solid potential for long term growth as more and more people keep getting scammed by new/newb coins.
Cheers to the AC team and thanks for taking the time to read if you did