Beware Bitcoin and Bitcoin Cash Pump and Dumps; There is a War Going on
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This has got me thinking of when the next pump in BCH will start and how I may try to time it. So here are a few things I will be on the look out for in the coming days or weeks. First off, the huge spike in BCH price was clearly an orchestrated effort, or a pump. Generally, when a few whales or even one person pumps something, they use the same general techniques and even sometimes the same time of day or week to do it again.
So you can start to see a pattern and it helps you catch these pumps a little earlier so there is a greater chance of profit and less chance of being a bag holder. So what should we look for? For example, this last pump, there was news of high fees and trouble with Bitcoin, so Bitcoin cash suddenly looked like it may solve a problem so investors started looking into it. So based on this, look out for news or changes in the crypto market that could favor Bitcoin Cash.
This could be anything from a price change in Bitcoin, to a big figure head making a comment, or even a hack of some kind. But be on the look out for big news that can be used as a cover for a rising BCH price.
Next pump and dump bitcoin cash the price action. Now that Bitcoin Cash is dropping, the price is getting closer to where they will want to pump it. This number is tough to judge, as a really big news story could cause them to start their pump at a higher price.
Finally, we look at the pump and dump bitcoin cash. They have a history of making these moves on the weekends. You get a run up during the week, and then a huge orchestrated effort on the weekend.
If you see a run up heading into the weekend, expect a big pump on the weekend. If fact, this applies to most pump and dumps. Not that they happen on the weekend, but they usually follow a pattern. The people pumping them often do a second pump at a similar time as the first. So those are the indicators I would be looking for if you want to try to time the next Bitcoin Cash pump and get in as soon as possible. But there is pump and dump bitcoin cash warning, chasing artificial pumps is pump and dump bitcoin cash risky as the market is being manipulated, meaning anything can happen.
Even a huge frenzy could pump and dump bitcoin cash your exchange to go down and leave you holding the bag. So proceed at your own risk when chasing pumps. But high risk can mean high reward. When the price goes parabolic, you need to stay at your trading computer. Do not leave your position on the exchange and then go to bed or something. The drop could come at any time once the price goes pump and dump bitcoin cash, so you need to follow the price full time for maximum profit, or you can set a limit order as well.
But do not buy into a trade and then leave your position open without following it closely. Most bag holders are those who buy and then walk away thinking the price will hold. This is just my personal opinion and investing strategy and not financial advice. I started a new Twitter here justjamescrypto. Make sure to follow for market and investing ideas as well as notifications when new articles are posted. Related Content by Tag bch bitcoin bitcoin cash btc crypto.