Friends,
We all know about Bitcoin and cryptocurrency, but very few among us know about "pumping and dumping" of cryptocurrencies.
So friends pumping and dumping is basically done by those investors that hold huge amount of money and have the strength to manipulate the market,
This is not done by a single person they have a whole community for this work, as you see many coins suddenly started rising and Rising without any reason and when people notice that oh my god that coin is rising so much in such a short time they also starting to invest in thatcoin and pumping the price of coin up and up,
The group of investors that started the pumping when they reached at their pre decided percentage of profit, they suddenly dump(sell) the coins, and because of a huge share of coin sold in the market the price of that coin going down and down until it reaches it old base price.
And the investors who buy that coin at its peak price struck with that coin for a very long time.
These huge investors used many countdown websites to give their members the right time how long they have to pump the coin and when to dump the coin and take their profit.
Countdown sites:-
Eg:- https://www.timeanddate.com
We also see this type of pumping and dumping in past time with many coins like:-
1.Digibyte
2.Doge
3.bytecoin
And many more.
So friends whenever you see a coin Rising 100% or 200% of its base price in a short period don't invest your money in that coin because it's maybe a case of pumping and dumping.
(Image Source:- https://www.google.com)
So friends if you have any doubts and questions??
Let me know in the comments below.
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