Bitcoin Forum

I have a habit of daily checking the gainers VS losers on coinmarketcap but today I saw that bitball tokens gain 1565 % within 24 hours, so I want to know the reason behind this or any issues in getting data from exchange?

https://coinmarketcap.com/currencies/bitball/

https://i.imgur.com/I5V1xKK.png

sorry but for me?this is a pure manipulation and whales are playing to bag money,its been a normal occasion that shitcoins has been pumped hugely and after few hours or days back to falling again.

nice observation but never trust them to invest unless you are willing to risk your precious money.

https://extstock.com/markets/btb_eth This exchange has the largest 24-hour volume at the moment, and only on that exchange is the highest BTB price for other exchanges still very far from it.

I think there is something strange here, look at buy and sell orders on the extstock.com exchange, there are very different prices.

This is common in the crypto market. The majority of coins are pumped after a long time fluctuating at the bottom price and it seems only money manipulation organizations do this.
so do not think this is an opportunity to buy shitcoins and hold it, all are calculated by these organizations and you should still stay away from shitcoins if you do not want to lose a lot of money.

it seems like it's really manipulation, look at coinmarketcap decrease until now -35%, easy up and easy down,
Bitball is still ranked at 1395 and it's risky if you buy it, and survivors who have BTB will definitely feel happy and happy with an increase like that makes quick for rich

Do you see how low the volume is? It is quite easy for market makers to pump illiquid coins with a custom trading bot. It has been the practice since 2014. Pump the coin until the real buyers come. Better if the trading fee is free or cheap.

Yes you are right mate we have to think before going to invest in any coins like this situation we have to check reality, otherwise our funds in risk.

It has tiny market cap and tiny volume. That is the reason that a rise like that is possible.
The smaller the coin, the more volatile it can be, because individual buy and sell orders have more of an effect.
This is a part of the reason why increased crypto adoption will help Bitcoin to become a better store-of-value.

It may not be mathematically exact, but a good guide is that volatility is inversely proportional to volume.

https://i.ibb.co/sm1yMF6/Screenshot-3.png

Now the price of BTB becomes mines -69.91% and with the increase up to 1500% only manipulation is done by Coinmarketcap.
I see that trading in low BTB volumes is not very active in general, obviously I don't believe in the increase, and I also don't buy BTB at this time.

I've wondered the same as you and find some group crypto in telegram to ask those with experience in the market for years, they say that it is the act of manipulating or an act shady someone insiders department of that business. He also advised me that such businesses are unreliable and have absolutely no potential to invest in them. everything has been arranged and we should only speculate on the top 50 coins.

I don't think Coinmarketcap is manipulating, because it only displays price statistics
Those who manipulate are traders usually, who are the traders? maybe the developer of the coin

in principle there are a lot of prices and volumes manipulated.
and in this case it looks like it. but even if this is not the case then it looks like the train has already left.
please don't invest any money if such an increase has already happened. ;)
this goes directly in the other direction. 99% of the time.

Don't know why people are trying to blame CMC on this one yet knowing that this will normally shows or list out on the current price increase change of a certain coin.

The thing here is that you can check out the liquidity or the volume of the said coin if you are in doubt.If we do saw that its a new one in our eyes then theres no doubt that this
is some another shitcoin that had been pumped up and later on would be dumped.

These pumps usually happens for old coins, I think the pumping worked effectively for this coin. Just look at how dead it was before but after the pump, it seems to continue up to now. I'll never get into this coin because I know the consequence and dumping is just nearly around this coin.
No need to have reasons or what but these thousands of percentage gain also a representation that when no volume for a coin was found and sudden there's a pump, that will trigger their meter.

Indeed, this coin is bought to be pumped in an instant so that many traders glance at it and then discard it because shitcoin never lasts long like this, even though BTB coins are old but still in my opinion this is shitcoin with no price.

CMC is not manipulating the price of token but CMC is taking the information about the price of the token from the wrong or non-credible website. It's not traders nor the developer but the exchange site was manipulating the price of the token. A big gap between buying and sell order can be manipulated by both that created by the owner of the exchange site. I hope you guys should take a look at the exchange site before drawing a conclusion.

Main targets of these common cases are those noobs who are too greedy and also to those people who do love to join or FOMOers.

Manipulating prices that shows off enourmous % gains do act as a bait and to those who got interested would surely lose up their money later on when
bag holders tend to slumped down their stashes. Common and classic P&D but people still never ever learn.

I'm sure that in a way you already know the answer to your question, it is impossible for any coin to have that kind of growth in a legitimate way, that kind of growth can only happen when someone is manipulating the price, with such low volume I will not be surprisedax if a single person was manipulating the price by selling his coins and buy them for a higher price this creates the impression that the price is going up but that is false and this is done to attract investors which will eventually lose their money.

I'm not surprised with this kind of manipulation, i just look directly to the coinmarketcap if what is the volume of that said cryptocurrency. By looking at it i can certainly tell already that the price was just a trap for real investors. It's too common to see this kind of tricks nowadays.lol

I will explain this easily, I see the bitball exchange here
https://coinmarketcap.com/currencies/bitball/markets/
there are no attractive exchanges and have high trading volumes listed there like EtherFlyer, I think it's just a mistake from the CMA to match the original price, the distance of buying and selling prices on a quiet market usually pushes the CMA to record the last price. on that exchange

It's because the volume is still small (under 1 mil USD) and there are many people out there who have more than 1 mil assets who can easily pumped the price more over this coin is just listed on 2 exhanges that has volume on it. ETHFlyer and Folglory, these 2 exchanges are not having a big volume so i think the whales could pump the coins to make hype.

Cant agree more. I haven't heard name of this coin before. There are firm chances that this coin is being pumped by whales and is bought by novice investors at high rate. Stay away from such scams.

tokens that still have a little volume are easily manipulated by whales,
like this Bitball and see prices now have also gone down from $ 0.04 to $ 0.001 on etherflayer,
it's terrible if you get involved in FOMO  ;)

But if you look the historical price, it's kinda strange.

The price mentioned in the OP picture is 3,38 USD and take a look the historical price on coinmarketcap and you won't find the price even for 0,5 USD. I'm guessing there was no real trade and this was just a stupid price manipulation through exchange API or something.

The next coin on the pump list of crypto whales, that is all. The Folgory exchange is the main exchange of the BitBall and 92% of daily trading volume is coming from the Folgory exchange. The pump-dump coins have the similar charts like what I observe in the BitBall charts. The 1565% gain was a pure manipulation of price by the greedy whales, I suggest to stay away.

Because it is a shitcoin that is traded on shit exchanges without any volume. You can pump the price to make it x10 even if you have several dollars, because exchanges do not have real volume and doing only wash trading.

well, just a instant pump i guess,or some people missclick to buy it and on that time coinmarketcap recorded it.
because on today , price just about 0.005950 of course it's doesn't make sense the price drop from 3,38 to 0.005 just about 1 week.
And also , all of BTB market just a unpopular market, no wonder simple mistake like that cant be avoided.

This is similiar others pump and dump. you will see after that pump the price will be dump (proved)
most crypto has low liquidity, so it is easy to pump these shits
even on big CMC, those can get pump and dump. so just take your own sake

The may occur by any means or reason however the motive was bad since they can not sustain the volume and the price gained, BTB is now been traded at less than 1 cent at today's current market price.

https://i.imgur.com/7kuWqGU.png

It is even worse than what you imagine, in order to move a market that has a volume of one million dollars you do not need one million dollars you only need about 5% or 10% of that volume to move the market in whichever way you want, and what it is even worse if the exchange has no fees a single whale could trade with himself and slowly rise price of that coin and then when he finally gets attention from real traders he can begin to sell his coins for a huge profit.

Well.. let's see: low market cap and freakingly low volume below $5000 and it is trading on pretty shady exchanges.  I don't know about its fundamentals but looks like a pump and dump type of shitcoin. Look at the first proposition on its description on CMC: " Bitball aims to become a cryptocurrency that is accepted as a mode of payment in real-life scenarios" - isn't what many of the top cryptocurrencies out there the same inclusively Bitcoin which is literally the king of the cryptosphere?

Don't believe the CMC's statistics about the price of a well-pumped token. in fact it is just a pump of the shark has planned in advance. When you visit the place where the big deals take place, you will find that the buy order is still at the same price, in addition, it does not increase but the buyer keeps buying. that's a sign of some sharks trying to launder money without being spotted by the government

great observation mate and that is what i think is happening as well,CMC is known in being bad reputation about the fake volume.
this must not treat as advantage instead this is a risk because you might become a victim of this trapping from the big investors that manipulating the prices.

stay away from this kind of works from these bagging  of money.

With that volume it's clearly a pump

Actually  I agree with you since if OP only base the percentage in CMC then it's a totally fake since sometimes the data feed by  that platform is not accurate and  if  you visit the exchanger where it listed you will find out that there's  no total growth happen. And this is the reason sometimes I don't  actually look on their stats and just go directly where they are on and check the current situation on what is happening on 24hrs.

It's probably a prepump to see if the whales have a control of that asset, so maybe stay away if you don't want to get burned. And the volume on that exchange doesn't mean a thing because it all comes from wash trading so it's not real.

Possibly because of the good news or just a mere manipulation?
The 24 hours trading volume is less than 1 btc, what do you expect? it would be a legit movement if this project is liquid, but sorry it's not IMO.

It drops drastically after the pump so for me it is a clear manipulation of the market, and I dont know if those investors benefited with that kind of movement. It does not raise slowly but instantly gain that percentage and now the price is on the floor again.

It's more than likely from some pump group releasing it as a coin to buy that's going to be pumped. Unfortunately, a lot of people will end up losing money on it. When you see small projects like this that pump up really quickly, that's usually the case. These groups just tell all of their members the name of a coin and their members purchase the coin hoping to make profit. They don't realize that the people that have leaked the name of the coin have already been buying in and they're the only ones guaranteed any profit.

clearly another pump, check the price now  :'(

You just can't trust a coin which is listed in a single exchange or even only a handful of exchanges that listed the coin. Because the market makers can easily dictate where the price will go. So a better accurate read in the market is a dispersed market trading among several exchanges.