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I lost $150 in my first pump-and-dump today. It was a worthwhile purchase of experience, and I'd like to share my insight with you to save you a few bucks. Doing the math, if someone artificially inflates the price of a coin by buying it all up quickly, in order for them to profit, then someone has to buy what they are selling at an inflated price. If the price goes back down to it's previous rate, without anyone buying high, then the net profit is zero. The only people who will buy at market price while the place is inflating super fast are...the newbies trying to get in on the game. Here's the thing about playing a rigged game - if you aren't in on it, you're the sucker. I decided to risk being the sucker today. I joined a big pump-and-dump group on Telegram, got some bitcoin in place on Binance, and waited. When the announcement came, I bought it in under 3 seconds. Searched the coin, made my order, and bought. The price dropped. I had bought at the peak. I sold quickly to minimize my losses, and I learned. If you were the organizer of such a group, what would you do? Buy up the coin first. Get the pump started. Announce it a moment later, so everyone trying to get in will buy what you are selling. You need those buyers. Think about it: without the crowd rushing in, the price falls back down naturally, because NOBODY IS BUYING AT A HIGH PRICE for no reason. The only ones with reasons to buy high are the suckers trying to get in on the game. Lesson learned: if you aren't doing the pumping, you're going to get dumped on.
Wow..how smart are these whales...just a theory but anyways here goes...they knew Ripple was planing on goin live as of April in Japan, that plus the 31 march announcement regarding Mitsubishi UFJ bank..so what did they do???? They knew the xrp price would probably rise BUT they artificially inflated the price even more with a massive buying spree(mini pump)....next was a snowball effect...people saw the price rise on the exchanges and started to buy buy buy(big pump)...inflating the price further....they knew by Monday...Ripple the company who have been tryn hard to get banks on ther side with a low volatility crypto would then pump more coins in the market to decrease the price....them fujers must have made a killing when it reached $0 .05 then sold off as much as they cld- triggering a price collapse...ie last few hrs of sunday night (UTC) before the asian markets opened....Guess most of us slept dreaming of a $0.1 dollar xrp this week that night....And then we woke up and the reality set in! hehe..wow..fujers..BUT gota appreciate the ingenuity of em buggers...bravo ? ...Any thoughts fellow cryptomaniacs??