Bitcoin Forum

GxChanin (GXS) is up 18%+ while everything else is red, including bitcoin price (https://www.cryptozink.io/currencycoin/BTC/bitcoin/). Anyone knows why?

https://www.cryptozink.io/currencycoin/GXS/gxchain/

well , probably because update on blockcity (Ver. 2.2.1), and also they say some full operation resumed, i dont know what that mean, but i guess that a reason behind the sudden pump.
and , if u look carefuly EKT and Nano also have the same condition,right now.

if this news true, maybe thats only a bull trap my friend,
https://twitter.com/DoveyWan/status/1171778926030417921

just becareful and always doing your own research if you want to invest on any altcoin

There is a big possibility that it is being hype by a certain group and once they can gather some other investors then they will dump the price at any moment.

But if the pump has nothing to do with it, there is a big chance that it's demand is increasing and it is the main reason why it's price is gaining a positive 18% increase even if others are falling.

Bull trap is normal for altcoins and I also believe that you need to be careful if you are holding this coin because it can drop more while everyone is on pump. If there’s a good news, a real one then that is the reason of the pump but its unusual to pump high while bitcoin is down, always be careful.

Oh darn, I didn't see that. When the Chinese going after you, it's not good.

ooo another shitcoin ive never heard of :D god damn theres so many, i cant comment on price as i know not much about that one
but im gonna check it out now (the description from cryptozink is really vague lol)
don't let it moon for a day or two in case i wanna try snagsome first :P :P

This shouldn't be a surprise, your stats with coinmarketcap and coingecko. It's only your website that shows it up by that percentage. But with the other website that I've said, it's already getting reddish. By the way, are you really asking what's happening with that coin or you're trying to endorse the website?
Your username and the website is similar.  ::)

Because it is low market cap coin with low trading volume. So every bigger order pump the price up. That is why we don´t see such big move on high cap altcoins for now.  ;)

I'm really genuine with that question. I'm a day trader and always sharing what's going on with the market. Yes, it's my site...why would I show stats from someone else site...

sometimes altcoins rise when the market falls. there is news on which coins grow. keep track of what news came out on this project, and then think about buying it or selling it.

I don't deny the possibility of being target by the crypto pump*dump groups. Politely they attract the novice investors and they come to check the profit expectations if the things don't go wrong. The whole market circumstances don't make sense if the whales want to use the pumped prices pumps as a bull trap. After the increased volume, the price slowly goes back to the price level which the group aimed to start the pump. 

That is precisely what I was thinking, because I often see such things happening on exchanges like yobit where some very unknown altcoins sometimes are soaring percentage wise while bitcoin and most other alts are falling.  There's no other good explanation for it that I can think of.

But my ultimate answer to op's question is: who cares?  I never even heard of GSX and if I had to guess I'd bet that he owns it or is somehow affiliated with it, probably trying to pump it up even further.  That's how prices for coins like that get inflated beyond reason.

There could be a lot of reasons for altcoin price pump whenever bitcoin price falls. It could be hype, or a pump group, reacummulation of altcoin, etc. Don't be fooled by all the greens and sudden surge especially if you are not familiar with a coin.

GXS has recently made progress and new partnership and upgrade. People tends to buy out these kind of news. You seem to be shocked? most altcoin can go down even overnight. I do hope it's easy to answer youre query but it isn't. Market movement is very unpredictable and you can only see it green every once in a while since we are on a bear market.

It happens often; a pump in bitcoin does not guarantee a pump in other altcoins
Also; you need to check the exchange platforms; to verify the real trading price of any token

What are their latest progress and new partnership? I do not see anything about their partnership on their blog and on their social media.
the latest news I heard about them is their core member is back and has resumed full operation.
do not tell me attending the conference can be considered as a partnership?
the price turned green because the market wanted it just that, nothing more than a pump after the dump.

Why not? Every coin is independent here so the price change maybe irrespective of other coins.

But we also have to be aware of dumpers they will initially make the price of token to be in green when people starts buying it they will dump it all the way to down.

Probably they have a big news for their project that's why this coin is upping 18%. It is normal for coins to have this kind of growth even if the market is in red if they have news, exchange listing and many more probable cause.

In my opinion this is a trap for investors, it is just a pump. You need to be careful with this coin. I would advise you to get rid of this coin as soon as possible.

This could really well be pump and dump kind of movement. Did you see another coin CRON? it moved more than 100% 2 days ago. See what happened today.. Its all in the game.

Low volume unknown coin not even listed on coinmarketcap... It's quite a low pump for this case taking into account all these details :) This coin typical daily movement is much higher then 18%

I am not surprised, any coin can outperform others, irrespective of what might be happening in the market. If a coin is good, whether there is volume or not and with a slight good news, it is likely going to grow in such manner and sometimes much better than that. Hum did that recently, even with not so much volume.

I do not see anything strange in this as many little-known cryptocurrencies had temporary popularity and green color in the market. But it lasted a very short time and this fact is not a reason to draw any conclusions. Whales play with the market and merge large volumes of bitcoin and as a consequence the price of all cryptocurrencies falls. Everything is simple and has always been so.

Nice dig up. Yes its very possible that its a trap, it happens always in crypto and be very careful not to lose  more than you can afford to lose. Sometimes its a manipulated one, just to get attention and being notice, just what happens now. At the end of the day, its better to count the profit, not the losses.

If you are following this project, you should know why. Or if there is no reason around, just think of it as a pump. Already in the world of crypto, such increases are always possible, and the increase is not only in gxchain.

It is very likely catalyst for such strong growth was the update. This often happens on the market in projects with good capitalization.
For example, the SOLVE project over the past 24 hours grew by 26% and entered the top 100, while the entire market, as you may have noticed, is red ..

https://coinmarketcap.com/currencies/solve/#charts

It happens to every coin not only GXS, I have EOS coins and two weeks ago it's the only coins that is on green with 5% price increase, some coins are pump and dump coins, if the coins are good there is an ongoing development that investors are supporting that is the reason why the price is going up on certain coins.

not only good but if the coin is not popular or should i say not so really good , only few will buy it and the movement will become stable or will only rise a little but someimes good coins are the ones that can dump the most because people keeps buying and selling them.  this coin on the op is i think only being advertise again.  i thought he will only ask about the market situation but it turns out that its another click bait again. urgh ..

That means the development of the coin is underway so it has no effect on other coins that are falling in price and this kind of thing has also happened to other coins not only on GXS coins, because investors are hunting a lot of these coins so this has often happened.

yes, it all depends on how the request to the token. if you have a large demand, no problem the market is in decline. prices can increase if the number of requests is in large quantities. we have seen that happen to BNB coins at the time of the decline at the beginning of this year. the market is down and BNB can overcome that with the updates he made.

Another reason relies on the concept of trading, if we will going to look at the RSI and MACD, the particular crypto could be oversold, that is why allot of people are now accumulating it that it reaches 18 percent while the other's are not. This is due to the fact that it was being hyped in some point, that a great news and updates concerning it is then evaluated in a certain area that makes it become positive. I am not much in favor that it is a bull trap. Cryptocurrency is volatile and we should know that.

Crypto doesn't need a solid reasons to have a sharp rise or fall. And it's easier for a low supply coin to change it's price.
The most obvious reason for one coin going in the opposite direction from others is a pump or dump period. Sometimes it may also be due to some drastic news that may effect the future of coin in one way or other.

There is only one reason for the price increase, they have posted another major update. But in my opinion to release something on a red day is not the best idea, because potentially the team could have gained much more.

The project has its own use case differently from other, and their increase all depends on their marketing strategy, if they are able to market their product perfectly well, then they will surely get an increase as much as they need.

Looking at this project that you mentioned, you will see that they have a very active team that are working hard and promoting their project while they also have a working product, so if their coin was not artificially pumped, then I think that their handwork is what must have been paying up for them right now. Altcoin must not depend on bitcoin for them to increase, it is only a lazy altcoin that will always depend on the increase of bitcoin for them to be lifted up. If altcoin manage their project very well, they ought to be completely independent.