Bitcoin Forum

what is reason for it? it jumped 600%+ in last few days

What was expected.
What happens when Japan, the country with the largest bitcoin volume has the chance to buy monacoin?
Monacoin was listed last week on bitflyer the largest exchange in the world and it was sitting at 50mil marketcap.
I was watching it closely since its neighbor bitcoin on the same exchange was having hunders of millions of USD in volume.
Also Monacoin is a friggin sugoi coin, it caters to japanese people, theres a cult following on that coin.
Saw it coming a mile away

The problem with this crypto currency is that it is limited only to the Japanese market. Despite the huge scale, this is not enough to compete with other large crypto-currencies, such as Ripple, Litecoin, IOTA and even Bitcoin.

That x7 is bad for Monacoin for it is currently being used as Digital Payment in some establishments and online stores in Japan.
A sudden pump may be seen as possible future volatility issues that Bitcoin is facing.

As the title said "monacoin pump", it might being pumped maybe by some whales to become a source of dirty profit.
Most traders outside Japan are finding ways to buy too, for hodling of course.
After the sellout since they didn't need the coins, expect a sliding dump.

It's bad for the coin since it has been in the road of being a successful payment digital currency.
A stable growing market cap is good for the long run.

I hope this is not a 600% UP then -500% DOWN roller-coaster.

I think the reason could be Monacoin was pumped by a pumd and dump group. They did it to make some profits maybe? Cause as i checked there is no news that could effect on the monacoin's price at this moment.