Fake binance pump?

[Mahanton]

Every other time we see a coin get pumped badly on binance, recently being the case of sys coin. My question is, Should we take part in such pumps ? How much risks it involves? How long should we hold that coin?

You should not include that SYS coin incident which its not relevant to be considered on such situation yet it do involves bug related issues with the platform not totally a usual pump of coins not only to this exchange but on others as well.
Fake pumps and dumps do exist and when you saw these coins then its too late for you to get in and its risky when you FOMO. Not all coins would have definitely a possible same movement for you to wait up.

[Shenzou]

Every other time we see a coin get pumped badly on binance, recently being the case of sys coin. My question is, Should we take part in such pumps ? How much risks it involves? How long should we hold that coin?

Pumps and dumps are all what altcoin market has been involved around for the last year or so, i personally tried to participate in some of them and i can say that i had my share of fails and success, when you want to participate in them make sure you do your researches about the coin that you are trying to invest in and understand how its market works, you should make your decision on your own and not based on what people tell you to do, because there are a lot of scammers out there that looking to take your money, and most importantly don't get greedy if you jump in a pump set a certain price point at which you get off.

[coinwizard_]

This was definitely a hacker transferring funds, there is no pump and dump group that would pump it so high that one coin is worth 100 btc. Binance should have some type of stop system in place to prevent extreme trading.

[darkangel11]

By the time you see a coin pumping, it is already too late to buy. You won't have time to sell before it dumps and you are left bag holding.

The only people who benefit from a pump and dump are the one or two top scammers.

Sometimes those are groups of scammers. Normal investors have to sit and watch, wait for it to happen and have an open position waiting to be filled. Back in the day that's what I was doing with a lot of coins. I simply had no time to follow every move and every tweet, so I would pick a satisfying price and place an order. Sometimes it would take days, sometimes months to fill. Sometimes it would never happen, but usually this system worked.
I agree that jumping on a pump usually doesn't work, but sometimes it catches fire and continues up even though pumpers have exited.

[davinchi]

I personally never take part in pumps unless a coin I hold is being pumped- in such a circumstance I just sell at my predetermined selling point and exit. There's a lot of risks involved in pumps considering some of them last just minutes and you can lose a significant sum of money if the pump doesn't go as you wanted it to go. I usually leave a pump extremely quickly to minimize risks- I'm there to simply trade and not to gamble, and though I've missed out on a lot of money I due to this strategy I don't regret it one bit. For outright gambling I go to online casinos, not an exchange.

Lol all those fake pumps is a way for them to rip their investors off, if they are not being careful. It’s not good to participate in those, but sometimes you can be lucky, saying from experience I’ve had luck once in it, but that doesn’t mean I will go ahead and try it.

Even the day it happened I didn’t invest intentionally, but it was all luck, cause I could have lost big money in it. Well… this is not the first time I’m losing money in this, I have lost money several times but all that matters is whether your profit is bigger.

[mostkey]

Do not always follow such pumping because it is feared once you get inside and pump from time to time to get down drastically, do not be easily attracted by ongoing pumping, but wait to buy at a low enough price so that it can follow the pump and sales targets in time which is a big advantage, the principle of trading is to buy at a fairly cheap price (red) and sell at a high price (green) which if not bought in a state of pumping will be very risky, just like those who are late buying but forced to buy at the peak of glory Bitcoin by the end of 2017.

[Hammonds]

Exactly it is not a fake Pump but there is an error in Binance system, so it's caused by BUG. Before you see the SYS coin is up then see first from the group telegram, Announcement, Tweeter fanpage website etc..

Do not let you go wrong and make your Bitcoin diminished because of the BUG that occurred in an Exchange, be careful in trading so you get lucky.

[leavolnhals]

Every other time we see a coin get pumped badly on binance, recently being the case of sys coin. My question is, Should we take part in such pumps ? How much risks it involves? How long should we hold that coin?

I think you should not be involved in such pumps. It's a lot of risk to you. because the money is not easy to earn. If you are greedy, you can enjoy big profits from that pump or you will lose everything if the pump fails. I think you should choose a safer option than a risky one.

[jayhawk1]

This was definitely a hacker transferring funds, there is no pump and dump group that would pump it so high that one coin is worth 100 btc. Binance should have some type of stop system in place to prevent extreme trading.

This can’t be done on individual basis. Well you can’t just be so unsure that this isn’t hacker thing, it may be or mayn’t be. You are there to confirm it from some sources and listen out to news and think over it. Connect some dots and think whether it may be obvious or not. If you think this is so, then change your plan or modify it. Your strategies must be flexible enough to cater max situations.

[Cacao2017]

Binance is one of the big and secure platforms that we can rely on. Binance offers users a discount on Binance Coin (BNB) instead of Bitcoin. BNB Coin as a way to pay costs on the exchange

[nydiacaskey01]

Every other time we see a coin get pumped badly on binance, recently being the case of sys coin. My question is, Should we take part in such pumps ? How much risks it involves? How long should we hold that coin?

Those pump and dump groups are just making money on newbies in trading. For those who understands crypto trading, you don't need to join such groups. There are even groups that gives signal for a fee. I would rather follow a coin or project and wait for further developments and price will follow too, than pay for a signal that is also given to others who already bought.

[rumexx]

From my experience of this kind of pumping of coin is that if you are holding such coin sell off once you are in profit. If you are not holding the coin and want to buy then buy and sell of with minimal profit. Never assume that the pumping will continue because you did not started the pumping neither do you have an inside information about it.

[Andrej Peiboski]

Participating in a pump can make you earn a lot of money if you are very lucky and have confidential information.
But if you stick to the blinds, it's like playing at the casino, so you'll probably lose money.

[Brunus]

Anything is "fake" in this world, not only in cryptocurrencies.
Sometimes, we can guess some "if...then" relationship, and may be we can take winning decisions.
Difficult, btw.

[Aveatrex]

Every other time we see a coin get pumped badly on binance, recently being the case of sys coin. My question is, Should we take part in such pumps ? How much risks it involves? How long should we hold that coin?

Most of pumps you see in binance are leaded by some Pump and Dump groups,these are very risky if you get involved in the trade and you didn't sell in the right time (Greediness,or lack of skills).Therefore I don't recommend participating in those,I'm highly convinced that the owners buy a large amount of the coins before they get pumped and then dump them on members.

[Joyawan13]

Every other time we see a coin get pumped badly on binance, recently being the case of sys coin. My question is, Should we take part in such pumps ? How much risks it involves? How long should we hold that coin?

Most of pumps you see in binance are leaded by some Pump and Dump groups,these are very risky if you get involved in the trade and you didn't sell in the right time (Greediness,or lack of skills).Therefore I don't recommend participating in those,I'm highly convinced that the owners buy a large amount of the coins before they get pumped and then dump them on members.

[milewilda]

Every other time we see a coin get pumped badly on binance, recently being the case of sys coin. My question is, Should we take part in such pumps ? How much risks it involves? How long should we hold that coin?

When you are still able to caught that pump in early phase on where it do still tends to increase where you can still able to risk if you would decide to get in or not because most of the time traders would find out a certain pump when its already too late and thats the reality. Even myself do always misses out those kind of opportunity to make money or utilize profits out of those movements.
Fake pumps and dumps are just normal to this market yet this has always an involvement with manipulation.

[Dimon8]

I'm really looking forward to pamp or mini pamp. Mini pamp occur several times a year, I can scalp on mini pamp and make good money on it.

[joinfree]

It was not a "fake pump" there was a hack, and everybody was buying syscoin because of that, well, at least, the hackers hacked the wallets and they started to buy syscoin, that is what i heard about that, i am not sure at 100% if it is true or not

[Rubick99]

I suggest you to disapear from pumping an altcoin, that will be a trap for you. Before they tell participants what coin that will be pumped, they already bought that coin, and then make you buy on their sell price.