Bitcoin Diamond saw an unexpected spike of 108%
Bitcoin Diamond saw an unexpected spike of 108%
Bitcoin Diamond is currently in the midst of what looks like its third pump and dumps this month, with Bitcoin Diamond BCD coins surging 130th in value over the last 48 hours.
On July 21st Bitcoin Diamond saw a unexpected spike of 108% within the span of fifteen minutes when the coin jumped from a value of $2.26 all the way up to $4.69. Since then the price fluctuated as uncertainty mounted regarding the unnatural movements, but in the last few hours has begun to climb again."Bitcoin Diamond saw an unexpected spike of 108%"
At the time of writing Bitcoin Diamond BCD coins are trading for $5.29, significantly more than double the original value before the pump. while this could seem like a good time for the market manipulators to dump out, they may be awaiting a better daily volume to accrue before setting up the sell orders.
On July 7th the value of BCD coins shot up from $2.06 to $4.21 within a couple of days. Upon reaching the $4.21 the dumpers paid out and sent the coin tumbling to a price of $2.19 within just over 10 minutes. The dump took with it $3 million in daily volume within the same timeframe.
As you can see, the dump took its time in coming, waiting patiently for high enough gains and market volume to accrue. but the patience paid off, because the daily volume grew by over $10 million in that time, and the coin grew in price by 104%.
On July 18th another pump and dump pattern appeared on BCD’s charts, coming so quick that it probably went unnoticed by most people. in the twelve hours between 5pm and 5am the next morning, Bitcoin Diamond BCD coins pumped to the tune of 104% again, before dumping out again within just 5 minutes.
Within those 5 minutes, $2.5 million prices of daily volume disappeared from the market statistics, and the price fell from $4.51 to $2.30. This came BCD coins to around the same price it started with less than a day earlier.
Whenever a coin experiences this type of unnatural movement there are almost always calls for it be removed from whatever exchange it happens to be on. This has been true for BCD for a long time now, with several calling for it to be removed from Kucoin following similar pump patterns in January.'Bitcoin Diamond saw an unexpected spike of 108%'
But with 3 such pumps happening this month, it may very well be possible that some opportunistic traders are willing to risk their funds with Bitcoin Diamond BCD as long as they assume they can cash out before the dump comes.
It’s a risky game to play considering the unexpected with that the dump usually hits. Expect the next one to hit very soon.
Bitcoin Diamond saw an unexpected spike of 108%
Reviewed by mir khaleq ali
on
22:16
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Reviewed by mir khaleq ali
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22:16
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