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I'm very new to investing in cryptocurrencies. I recently invested in Ether, Ripple and also in Bitcoin and made around 30% profit yet. Not that much, but i think not bad for the beginning. Searching around the web and looking at coinmarketcap I saw a couple of crypto currencies, which made over 2000% in 7d. This amazed me. I knew that cryptos were in boom, but when I thought of cryptocurrencies I always tought of BTC and LTC etc. I knew that there were/are a lot more, but I never knew that they can be so profitable, at least in the short term. There were nearly every week cryptos that reached a gain of over 2000%. And I didn't knew them. It were/are little cryptocurrencies, which suddenly got a boom. Today Magnum is with around 570% the biggest gainer. In just one day!!!. Who doesen't want to invest in such a crypto? But in the ranking it's still on place 728. Why is there such an explosion in days? It was announced in January 2017 here on bitcointalk. And everybody lought about it. Why is just this cryptocurrency going up so much? Why did the rush start at 25 December 2017? I think many of you are asking this. And I don't know if anyone has a solution for this. There are not much information about MGM at the internet. And certainly no information that could justify this big gain. Nearly nothing. And like I mentioned, this is not the only example where this is happening. Sure everyone wants to foresee this. But is this possible? Or is it just gambaling with money if you buy such a cryptocurrency? What forces the course to go up so fast so heigh? Maybe someone has a solution for this, or just an idea. Post it below.
I hope I'm right with my question here and it's in the right category. If I made something wrong just mention it. I will try to make it better next time.
I'm looking forward to the answers.
Thanks
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