The biggest fun in cryptos is riding the trading wave. There are people who make living just from thing called ‘day trading’. This is about watching signals, reading candles almost forex style. There are also other people – who pump coins for profits. Buy low, sell high. Here is how to technically pump a coin. This is just to explain how it works technically, hoow are buy orders made etc.
For starters – to pump BTC you need millions of dollars, to pump some small coin on Bittrex, OkeX or Binance – literally a few hundreds can do. People who dont want to do pure day trading, choose some smaller coin, accumulate it and when time comes – buy it from themselves to pump the price. There are 2 groups of people – ones that do it to leave coin better [who never sell everything they have] and ones who will just kill the coin [90% scammers on twitter]. Coin pumped right will keep its value and the trick will be just “marketing” for the product, but pump and dump scammers will make people enter then drop coin to 0.
How to pump altcoins price – technically
For starters you need to choose main exchange where this will happen, with the biggest liquidity. Currently most popular bitcoin exchanges are Bittrex, Binance, Huobi, Okex and KuCoin.
While pumping coin on the main exchange you need to follow on the other ones too – if you dont, then somebody will arbitrage you and kill your pump.
The method is simple – you do self buys and unlike what people think – you dont need a bot or even multiple accounts.
Most exchanges allow you to do self buys/sells on the same account – it’s your problem you do that and pay fees to them.
So technically, before the pump starts you place your sell orders spread across the exchange [right side].
On the left, you start putting buy orders and in 90% you try to buy your own coins back. Of course, around 10-20% will be other altcoins or Erc20 tokens. Sometimes can be even 50% – all depends by how many % do you want to pump the price.
After doing that for a bit of time, you need to keep the price at some level. This is called buy support. This makes coins stable at pumped price before going for ATH [all time high] and then going to where it should go naturally. Remember to check altcoins price all the time during this.
The math you have to do is – buy supports price vs price of your entrance vs final price of the coin.
The best way is to just choose how much you want to invest max [or loose!] and put all that on the crypto exchange. No adding cash later. This way you won’t loose track of what you are doing. It will end in pump and dump altcoins probably anyways as price rising too fast needs to correct. We have corrections and retraces of prices going up too fast with bulls on bitcoin all the time for example.
Ethic in pumping – how to pump a coin
Well if you know financial markets – 90% things works are pyramids or pump and dump schemes. This is how it is. The only good thing you can do is invest in good coins, help them raise the price and never destory them. This way ecosystem will stay healthy and scammers will go away. Many coins are done only for PnD – but thats a different story and thats evil scam in full form.
Good times for pumps are ie litecoin halving price prediction or bitcoin halving when there is less coins mined per block and supply gets smaller. While we speak of pumping price of tokens and crypto we can say this is kind of altcoin trading guide. As if you see someoen doing it you will know how to do trades and set orders.