Altcoin pump and dumps !

[Menawi12]

Hey guys,
I am wondering what you think of altcoin pump and dump groups ?
They are basically a large group of people on discord like this one : https://discord.gg/ugkkmfEQKU
And they basically decide on an altcoin to pump and they all buy at the same time and then sell for double and make profits...
I watched a whole pump and people were making a lot of money lol what's the catch ?
thx

Pump and dump tokens usually occur on tokens that do not have a large transaction volume and are not listed on large exchangers. With a small average transaction volume, they can game the price and I think it's better to avoid coins or tokens that have a small daily average transaction rate and a small market cap.

[vaultman]

Only the owners of these channels can make money by using this method. Users who will buy tokens can also get some amount of profit, but in most cases you will simply lose your money, because everything happens very quickly and it is almost impossible to have time to profitably sell tokens.

[fileo]

Pump and dump could make you rich or poor depends on the right time and the united move of the group. This is not recommendable strategy to earn big money in a short period of time. For me much better to study the pattern and some important matter with regards to trading. Pump and dump is for short time, your knowledge if for long time. Better to earn small money on at a time because one day small will become big amount of profit.

[bluebit25]

Stay away from these pump and dump groups, as it is a newbie scam, because these groups will attack the mentality of new entrants, after groups like these bump a few coins. In order to give members confidence, they then plan a final project to trick you into. But groups like this appear across all social groups, i see it a lot on telegram.

[BayAngelo]

This is the worst decision you will make in your life as an investor. joinning any social groups that deals in trade calls without any TA and FA. you will loose your funds. they best you can do is do your own research and trust yourself. you will do better. note that any group that give u calls to buy any coin have already secured the bag waiting for you to push the price and he will dump on you.

[fishbonez11]

Hey guys,
I am wondering what you think of altcoin pump and dump groups ?
They are basically a large group of people on discord like this one : https://discord.gg/ugkkmfEQKU
And they basically decide on an altcoin to pump and they all buy at the same time and then sell for double and make profits...
I watched a whole pump and people were making a lot of money lol what's the catch ?
thx

Whales can easily manipulate the price, they usually go with Bitcoin Hype. They only take advantage of people's emotion with whats happening in the trend.  I believe that all coins are all dependent to bitcoin. This only proves that someone can control the behavior of altcoins price.

 Im holding altcoins and notice that price goes proportionally with Bitcoin, its way better to just buy bitcoin than altcoin. Altcoin is just good for short term investment. I would still prefer bitcoin which is more stable and established.

[awakpane]

Many such groups simply attract other people to invest in coins which are fundamentally unprofitable, with only a group of people deliberately fishing to buy and they end up selling back after making a profit and those of us stuck with the pump are going to lose. It is better to look at altcoin pumps and dumps take a look at the exchange charts with respect to liquidity and trading volume

[batang_bitcoin]

Hey guys,
I am wondering what you think of altcoin pump and dump groups ?
They are basically a large group of people on discord like this one : https://discord.gg/ugkkmfEQKU
And they basically decide on an altcoin to pump and they all buy at the same time and then sell for double and make profits...
I watched a whole pump and people were making a lot of money lol what's the catch ?
thx

Don't be too excited watching them, they may look profitable to you but in return, you're likely to suffer afterward. Better to avoid pump and dump groups and do your investment and trading on your own.
It's best to learn from your own than to depend on them. They also charge people joining them so if you think that's good for you, think again. They really are not good for someone who doesn't know what pump and dump groups do.

I think OP was inspired of his holdings and looks like one of the asset owned by him was already gaining a good value now. We can't avoid dumping, since we seen that most coins with good developer was already showing good signs that it would increase a good price sooner. If you wanted to do so, learn some trading analysis before deciding to focus on trading seriously because buy and sell can lead us to bigger losses if we fail.

It's not about him being inspired by his holdings. He's asking about the pump and dump groups and it's not wise to join any of them. Maybe you haven't been aware of the existence of those groups that solely do is to pump and dump tokens that they've decided and agreed to touch.
A new joiner is likely to earn from them but it's not that much because their main source is the payment for the joiner's fee. And you're also prone to losing more if you follow their tips.

[KnightElite]

In my opinion and analyzing my experience this type of situation ends with the development of a project for possible failure. We can take all the projects that did not have large bombs and compare them with the others that had large bombs. Therefore, all projects that follow the pump line and eviction, failure is immediate.

This is why it is very important not to trust these kind of group easily. Many have had the experience joining the signal groups but ended up losing of money.

If you need to join signal groups to make your judgements on trading moves you're just looking for trouble. To be honest these groups shouldn't even exist, you pay a membership you get some info which may or may not be useful. I mean you can just get that yourself and learn so much more in the process.

Maybe it is just me but the concept of relying on other to give you advice on what and when to trade sounds insane to me. I barely trust myself in trading and I do take a gamble at times, but never mind having to trust others.

I can say that signals are just waste of time, effort and money. You will lose more because in signal groups are usually require for all of the participant to have membership fee and the exchange that you will get is just a shitty signal where for sure that you can incur huge amount of loss. When I was a newbie, I thought that signals are the key to become profitable in the market and I suddenly found out that my perspective is wrong where I needed to fix it.

When I make investment in my knowledge, it is the time that I learned about pumps and dumps groups or those signals groups where all of them are scam, do not ever try to join in signal groups because those shitty groups can be a reason for you to lose huge amount of money.

[kasakola]

Basically, there are some reasons to pump Alcoin. One of the reasons why Bitcoin is not pumped when it is 1900 $ is because people hold Bitcoin then Alcoin does not pump but when Bitcoin does not pump then maybe All Coin will pump. And now there is the possibility of pumping very easily.

[Mahdirakib]

It is really risky, you may fall in a trap. Cause most of the time those group choose new or low marketcap coins for pump. Those group can't pump top altcoins of crypto market, I was a member of one telegram group. In that group admin was giving information about altcoins price pump earlier and encouraging others to join. But I have never seen any well known altcoins pump news from them. Those alts price may drop significantly after the pump and many investor won't get the right time to sell their coins. Finally they might face losses.

[awakpane]

Many such groups simply attract other people to invest in coins which are fundamentally unprofitable, with only a group of people deliberately fishing to buy and they end up selling back after making a profit and those of us stuck with the pump are going to lose. It is better to look at altcoin pumps and dumps take a look at the exchange charts with respect to liquidity and trading volume

If you can predict with a graph that you may be very good in the future. You can see what will happen in the future even though you cannot guarantee 100% every step of the way.

Indeed, predicting with graphs cannot guarantee 100%, but it is far more rational and becomes a guide for us in seeing the cycle of coin price movements rather than referring to the dump and pump groups which cannot be used as a strong grip