Is it true, Altcoins price can be manipulate?
I see so many peoples in any Ann thread of altcoins ask for pump and dump. I just don't understand, is this how cryptocurrencies works? While forex trading market move by good news or bad news in around the world.
If Dev or big holders can easy manipulate the price of some altcoins, I think it's not interesting anymore.
I see so many peoples in any Ann thread of altcoins ask for pump and dump. I just don't understand, is this how cryptocurrencies works? While forex trading market move by good news or bad news in around the world.
If Dev or big holders can easy manipulate the price of some altcoins, I think it's not interesting anymore.
Sure. A lot of cases happen around like this:
1. Have a big amount of BTC.
2. Search for a cheap altcoin (usually around 1k satoshi or lower.
3. Lets buy it up in small pieces. It will give you a great amount of that coin and redirect some attention to the project
4. Lot of people will think that something big is coming and it is worth buying
5. After it reaches a high price, dump it back slowly.
6.
7. Profit
