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Ever been in a pump and dump experience ?

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Pump and dump a common term for traders in the crypto world . It means that whales will increase the price and people will sell and later on it will have a massive drop. There are telegram groups for these kind of things and the whales or admins announces which coin will be next. I was wondering has anyone ever been or experienced a pump and dump and profited from it ?

For me i have not at all because to do that you need all the coins that are there in the market because whales just pump and dump random ones.

So tell me about your experience with a pump and dump if you have ever experienced one.

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We are often in these cycles. For example, bitcoin rose from $4,000 to $9,000 recently, and now it is back to $8,000. For me that is clear that whales pumped up the price, and then they sold some of their coins, making the value drop by $1,000.

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I learned pump&dump in hard way. It was at the beginning of my cryptocurrency journey. I bought BTC on pump and sold on dump with obvious loss of money. I was pissed that time and stop doing anything related to crypto. Then my friend told me that is natural cycle on every exchange, not only in crypto coins. So I started watching how the market behave, but I still don't play for events like this, but rather for long term. I believe that bitcoin (or different coin) will be worth millions in the feature.

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I do not believe in that. Because the reset of this information is for personal gain, but no matter how you care about you and your money or your profits. Therefore, I advise you to be careful and scoop information from several sources.

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Since at the moment there is no uniform system for regulating cryptocurrency space, and virtual tokens themselves have not received legal status, many market participants expose themselves to significant risks in the course of financial activities. In general, the cryptocurrency market is very interesting and attractive for deposits, in the coming years it will bring literate investors big profits and give great opportunities for earnings and business.

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I have experienced pump and dump. for pump I have received information from a telegram channel that provides signals for free. and I followed the analysis and it turned out that the price of bitcoin rose. the more days I follow this channel, it's a bit strange because he often gives wrong info. because his followers were just framed for him in selling. so I suffered a substantial loss, until finally I stopped trading because my capital was used up to cover losses.

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Posted (edited)

I've been in a "dump and pump" group , i followed their orders then with a little amount just to try but then when i saw that they suck at trading , i just quit that group.

Edited by MrNice23

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I got in a dump situation back in January 2018 when I bought Ethereum and the price keeps on going down. Up until now I haven't recovered yet and still holding the Ethereum I bought that time.

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I had once pump and dump experience back in 2017 just because i wanted to try out the feeling and excitement for going into such event and profit achievement.

It is a crazy world and full of sharks where everyone wants to grab some piece of the meat for himself and forget about everyone rest except that you are their food and their yours ;)

If you join at the end you will lose everything you have pumped so far.

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I never experienced it. Pump & Dump must be considered as a separate type of strategy, where you do not need technical or fundamental analysis. This is a debatable issue, can we call it fraud, but one thing is clear: in general, only the organizers benefit from it. However, why isn't there a regulator of the pump? By considering account confidentiality and no laws, it is not prohibited. Coins pumped have a stable price, so if the pump fails, you will only lose margin (the coin will not fall deeper).

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