Why are some not well known cryptos gaining over 2000% in 7d ?

[DreiDe]

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

[Youghoor]

There are some altcoins that are making more than 1000% in just a day or two, you only need to go to coinmarketcap and see all the altcoins, not only the first 100.

It is plenty of them, i saw that there was one who did 10000% in just a week, it is just matter of watching the market, nothing more than this.


Bitcore did more than 700% in a week a few weeks ago, if i am not wrong.

The same happened with IOTA and Cardano, not 1000% but they increased a lot.

There are a lot of this kind of altcoins, you only need to make your own research over them.

[DreiDe]

Thanks for your answer,
but are there any reliable sources on the web from which you could conclude that it will go up tomorrow?
Like I asked, whats the reason for this increases?

[BigBoy89]

Thanks for your answer,
but are there any reliable sources on the web from which you could conclude that it will go up tomorrow?
Like I asked, whats the reason for this increases?

There isn't any reliable sources on the web because those raises are made from groups called Pump & Dump groups.
IMO joining those groups is one of the ways to lose your money. Their admins are buying before anybody else and then are dumping before anybody else, making 95% of the group profit for themselves.

[DreiDe]

Is there no documentation of how much somebody bought of a certain cryptocurrency? It would have to be noticed if suddenly a lot this coins would be bought.

[Tehhmm]

Don't be fooled by the % change, sometimes it could be with tiny volume (i.e. you would never be able to sell more than like $100 of that coin before it crashes).

[1bitcoinsnet]

watch the cheap crypto on the top 3 exchanges, and the ones with huge volume are legit, that means it's no small pump and dump plays

when a coin has a huge percentage of a large exchanges volume it is not pump and dump

[Savik]

Don't be fooled by the % change, sometimes it could be with tiny volume (i.e. you would never be able to sell more than like $100 of that coin before it crashes).

^^^^ This right here, dont be fooled by massive spikes in price. Look at volume as well.