Based on publicly available data, some cryptocurrencies are trying hard to pump in the collective cryptocurrency market.
There have been several
cryptocurrencies that have been making sideways drifts operating within a range
without creating any distinct trend. The
price action is neither in the bullish range or bearish range. This is because the supply and demand forces
are equal. This has been true about the Bitcoin.
Several mid-cap altcoins are
showing substantial spikes over the past few days. Those investors who are
oriented to the Altcoins have been using the term “Altcoins season” in the
Social Media. This refers to an increase
in the price of the Altcoins. Where in there is a substantial spike in the
value of the Bitcoin versus the Altcoins; during the spike, the USD value of
the Altcoin as well spikes.
Thus, during this period Altcoins
enter a parabolic state, and they grow in an unparalleled manner. This kind of a period is very much
anticipated in the Altcoin market.
Sydney Ifergan, the CEO of TCAT token stated, “We are anticipating similar seasonal spikes in the price of TCAT tokens in the months to come.” He further added that “These spikes do not happen all the time. They are timed. The benefits of price spikes go to those who buy the tokens early and wait for the trends to show up.”
Ifergan opined, “Many feel
like they have been pumped and dumped because they time the buying
disastrously. They buy the coins when
they are at the peak or all-time high and then regret. Early bird buyers are the smartest.”
Altcoin seasons have been
happening all the year. Several
Altcoins were as inexpensive as the TCAT tokens when they started too expensive
now with 100% growth rate. For instance,
Apollo Currency (APL) has registered a growth rate of 109.17%. The twitter page of the project is filled
with announcements all the time, and that might have been one of the reasons
for why the price is as high.
Augur (REP) is yet another coin
showing some substantial gains. The
price action for this coin oscillates showing pump and dump movements,
therefore, providing for the opportunity to make some profits for those who know
the art of timing the market to cash out profits.
Several Altcoins show dramatic
spikes. They trade at prices very low
today, and in just 24 hours they climb by 100% and go down the trend to the
Pump and dump patterns provide
for some decent money making. Watch
Tierion (TNT) and Loopring (LRC) for sample pump and dump patterns. Most Altcoins including the TCAT are not
showing any rally; the spike season is yet to begin for 2019.