usually there are pump and dump groups that try to do this. how successful they are remains to be seen because they usually fail in the long term or fail because a bigger whale crushes them.
what they do is they start a dumb group and then spam-advertise it everywhere with false notions of "getting rich with altcoins" then they get subscribers (aka gullible people). these pumpers start buying some random small altcoin themselves first then tell those subscribers to buy what they have already bought and buy it over price.
i think you can guess what their next move is: dumping on those who are buying now.
BIDS are buy orders. people are "bidding" on something to buy it like an auction where you can place your bid at any price (not just above the last one).
ASKS are the sell orders. people are "asking" for a price to sell what they have.
what they do is they start a dumb group and then spam-advertise it everywhere with false notions of "getting rich with altcoins" then they get subscribers (aka gullible people). these pumpers start buying some random small altcoin themselves first then tell those subscribers to buy what they have already bought and buy it over price.
i think you can guess what their next move is: dumping on those who are buying now.
BIDS are buy orders. people are "bidding" on something to buy it like an auction where you can place your bid at any price (not just above the last one).
ASKS are the sell orders. people are "asking" for a price to sell what they have.
Good opinion, very useful. I just know that pump coin prices rise high and dump coin prices down or down drastically.
But now I know a lot about what is a pump and dump. Thanks for sharing his knowledge
