Bytecoin spike in price, market fluctuations?

[PovertyByte]

Bytecoin seems like a dead coin inferior to Monero which has surpassed it. What exactly causes a rise in value to jump like this?

[needmoney90]

Most of the float being locked up in the hands of very few people, combined with basically no liquidity, means that insane spikes like this are frequent in 'dead' coins. If you decided to buy any significant amount before this spike, it would be extremely hard to get out at a profit - there are only 8 BTC in bid support down to the prior prices. This is a classic pump with no fundamentals.

[PovertyByte]

Most of the float being locked up in the hands of very few people, combined with basically no liquidity, means that insane spikes like this are frequent in 'dead' coins. If you decided to buy any significant amount before this spike, it would be extremely hard to get out at a profit - there are only 8 BTC in bid support down to the prior prices. This is a classic pump with no fundamentals.

I mined 1,000 BCN for the hell of it. If it isn't ever going to spike higher than this now may as well be the time to cash in some satoshi.

[needmoney90]

Most of the float being locked up in the hands of very few people, combined with basically no liquidity, means that insane spikes like this are frequent in 'dead' coins. If you decided to buy any significant amount before this spike, it would be extremely hard to get out at a profit - there are only 8 BTC in bid support down to the prior prices. This is a classic pump with no fundamentals.

I mined 1,000 BCN for the hell of it. If it isn't ever going to spike higher than this now may as well be the time to cash in some satoshi.

I won't go so far as to claim that it wont spike higher, just that the price has no basis in fundamentals. Get out where you feel comfortable.

[raphma]

i would cashout if i were you... seems to be just a fake pump going back down at any moment.

[J1mb0]

Bytecoin seems like a dead coin inferior to Monero which has surpassed it. What exactly causes a rise in value to jump like this?

https://bytecoin.org/roadmap/

It doesn't look dead to me.