Topic: What is the reason behind surge in price of verge ? - page 2. (Read 244 times)

You people should be careful with these numerous altcoins that flooding the ecosystem day and night. Look at the current price of Verge $0.007109. it is still far from reaching $1 but if you are interested then nobody can stop you because it is you interest. 60% increase in 24hrs, how possible is that. I have not seen or hear from any altcoins even the king of cryptocurrencies have not pumped to 60% 24hrs as AVE5 said. I have not seen as well. My major investment is on bitcoin so I don't know all those altcoins movement in the market. Even Eloncoin I am investing on, I don't check the market price everytime but just once a while.

Most of the altcoins are shitcoins so even their market cap is rising I don't or I am not interested to join them. It will s better to steer clear from them than to be scammed.

It is not speculation, but because of pump dump, and such movements may not require that there be positive news, but rather a group of traders who invest in a currency that has low market capacities, which in this case causes the price of the currency to rise insanely, but you may not be able to execute sell orders due to a shortage of liquidity.

According to the interconnections between bicoin and the altcoins, I haven't seen the price of bitcoin climbing with such value of 60% in the last 24hrs as you may say Op. Hence the price of the AltCoins is a determinant of the increments of bitcoin so, I would say to you that in this current halving approaching the bull run, bitcoin has surged a value of $52K approaching $53K over a week but has been struggling to beat the height of the $52K since last week so, I don't see such surge of increments so sudden in the last 24hrs because as at now, bicoin value is hovering between $50K- $51K yet in the past days now.

That's the cryptocurrency world for you, and this is the reason why I do not bother myself to look too deeply at the best coins anymore, I just do my bit and leave the rest to fate. What I have noticed since the last mini-bull run that happened in the second half of 2023 is that there is no perfect analysis to know the best-performing coins/tokens, we can try our best but luck is also important here. Many analyze so much and consider a lot of factors like the huge community of the coin/token, the personalities behind it, the project(s) linked to it, the relevance (both past and present) and the market capitalization among other important factors, but may still not earn much return compared to some people that just invested in a random coin/token. Some are even termed useless.

Among the coins/tokens termed useless also, some had moved over x20 in the last 7 months, while some x10, x12, x15 and so on. This is how I want you to view it. It is not about news, community or relevance but the decision of some selected/random rich people who just decided to pump it for no serious reasons other than to enrich themselves. This is not peculiar to Verge (XVG), there are a lot of them that will just move dangerously upwards without any reason. Some will be dumped just like that as well, which is why anyone who could be lucky enough to make a huge return already on such unexpected coins/tokens to quickly move their money out because it could be dumped just the same way due to market manipulations which are rampant in the crypto world.

I saw that there is 60% increase in the price of verge coin in last 24 hours. When I searched this coin official handles, the Twitter handle has posts from last year. There is no development and still the coin is blowing up so fast. Are the altcoins now moving just on speculation ?