I have been messing around in bittrix for a few days now experimenting with day/swing trading for the first time. I understand how new information coming out can greatly effect prices via news articles and even tweets sometimes. What im having trouble understanding is coins that seem like they're doing nothing in the market for days/weeks/months will then jump up in value 20,30 or 40% without to my knowledge any news coming out or external reason for the jump in price.
I see this is all sorts of coins but for example adtoken (ADT) last Monday (July 23) had that big jump up in price. Now today very recently has had a small jump up. I'm still new to this and have a lot to learn but any tips or advice on this topic will go a long way.
Edit: i have since learned adt was added to Upbit last monday and hence the jump in price. ( i guess it was a bad example)
I think what you witnessing is called
pump-and-dump scheme. If you are not aware, those so called groups will choose a coin that they will suddenly pump as hard as they can, they can even pumped more than a 100% but then they will dump it and take home the profits. Yeah, probably listing a new coin in a exchange also contributed to the price jump. I also advice you to read this article:
https://cryptobriefing.com/how-to-spot-a-pump-and-dump-avoid/