Bitcoin Forum

Anyone know why the big price jump on fixedtrade coin, it had a 17000% price jump.

nothing special, https://graviex.net/markets/fxtcbtc
has a trading volume of only $31/24hrs, if you look between the buy and sell orders pumping easy, the difference between the two is too far and not liquid.

yes, the spread is very high, thats mean this coin can go high or down deep in short period time
for the OP you should be careful if you want to trade any coins with huge spread in the market

And now for what I can see it has a trading volume of zero so this just seems like yet another coin that was created to scam people and now that it has reached its purpose everyone is leaving it behind, remember people technical analysis cannot be employed in assets that have a volume that is too low and that is because anyone with a small amount of money can move the market as they want and manipulate it that way, and taking a look at the charts this is exactly what I am seeing, it seems a huge pump began on October 27 and it ended on October 28, whoever invested in this coin at that time most probably was the victim of a pump and dump scam and will never recover whatever they invested in it.

Wow that sure was a big pump for this coin. From the price of $0.04 up to $7.58. This literally was hell of a pump from this coin. To those who have sold during the pump were aware that it's a mere pump.
I don't know the reason for the pump but this coin is now back at low price. The chart is flat is again.
https://www.coingecko.com/en/coins/fixed-trade-coin/usd#panel

When the pump happened there was a volume of about 30k which is not huge but it is enough for some traders to make money, however even at its peak this coin was not really suitable to be traded, I do not know why people waste their time with coins like this, for anyone observing the movement of the coin this was clearly a scam and yet they wanted to believe this coin was going to help them to reach their dreams and now they are facing the cruel reality, for anyone reading this consider this a warning, do not invest in these kind of coins because the chances that you will eventually lose your money are almost of 100%.

Most times it is very important to be mindful of most sort of pumps witnessed in the market. Most especially when a token that looks questionable with low volume all of a sudden starts pumping hard, in my own opinion, when such happens it is the best time to sell that is if you are holding and move on, rather than buying because following such pumps always ends in a terrible manner. A dying project can get pumped by the team to attract users and then dump on them, it has happened many times and will keep happening because there are people who are easily swayed by pumps without minding what the project is all about or what the use case is all about or what is even causing the pump, what they care is to get their gains while getting trapped in most cases.

There are some coins whose activities seem doubtful from the beginning. As you said when a coin pumps a large volume with low volume then the next step of that coin seems to be risky. I have seen that there are many traders who do not research the coins well before buying any coins and prefer the market price of those coins.

As a result, they face huge losses in the future.