LTC Crushed - Was it a Pump and Dump?
TheLitecoin (LTC) price reached exchange rates exceeding $8.65 and 0.29 Bitcoins. This represented an extended growth rate of over 25% in merely 24 hours. During a whole week, LTC has gained over 80% against Bitcoin, 88% against the US dollar, and 90% against the Euro and suddenly tumbled. There are several reasons to explain this price behavior, but no reason should be regarded as the responsible cause. In this article, we will take a closer look at the most likely possibilities and from there you can draw your own conclusions. Block halving. This has been pointed out as the main cause....
Related News
After an evening of perusing the internets a post on reddit stuck out to me. “Bitcoin is being manipulated like other alt-coins” . The writer, mitchr4, goes on to explain that he is or has been an alt-coin trader for a while and has seen certain pump-and-dump patters emerge in the alt-coin industry. mitchr4 goes on draw parallels between the recent price spikes and downturns in the bitcoin market and the pump-and-dump nature of altcoins. mitchr4 goes on to explain how the pump and dump scheme works in bitcoin….
Bitcoin price has been stuck trading within a small symmetrical triangle. These continuation patterns tend to suggest another equal sized move down is coming. However, a sweep of lows would “perfect” a buy setup that could initiate a pump and dump fractal from years ago. The pump and dump would be designed to further confuse […]
The U.S. Securities and Exchange Commission (SEC) has taken action against two firms and four individuals allegedly perpetrating a crypto pump-and-dump scheme. “Although this case involves crypto assets, it bears the hallmarks of a classic pump and dump scheme,” said the SEC. SEC Charges 2 Firms in Crypto Pump-and-Dump Case The U.S. Securities and Exchange Commission (SEC) said Friday that it has filed charges against two firms and four individuals allegedly perpetrating a cryptocurrency pump-and-dump scheme. The two companies are Bermuda-based Arbitrade Ltd. and Canadian....
Like penny stocks traded on the NYSE or those on pink sheets, cryptocurrency is a prime target for pump and dump scams. For those with buying power, it's an easy way to get rich quick by inflating the price. For everyone else, nine out of ten times, you will lose. This is one of several reasons people are afraid to trust Bitcoin. For those of you who don't know how the pump and dump works, it's fairly straight forward. They are also illegal in the market, though federal agencies do not actively protect Bitcoin users. Pump and dump scams involve two groups of people. First there are the....
When I see a coin in Poloniex or Bittrex go on a 400% rise, the first thing that comes to mind is when will the bubble pop. People must buy coins to increase the value, and whales alike must dump them at some point as well. Greed is the ultimate demise of everyone involved in the pumping of a coin. This was clearly showed by the likes of Wolong and Fontas which I will explain in detail in another article. Yet, is there a positive side to a coin getting pumped? Can a coin survive the dump that comes after the rise? It could! Lets see the positive and negative of the pumping effect: The coin....