Bitcoinplus (XBC) prices rise on a massive surge on volume. It look very much like a classic ‘pump and dump’ scheme and looking at the other coins with ‘bit’ in the name also rising, it has the sniff of a rumor being spread to draw in the sucker money.
Yes that’s right, you are seen over 1000% rise in one 24 hour period. There is still plenty of irrational exuberance in the crypto currency markets.
So it a pump and dump? well wait a few days and see. From the chart it seems that there was a chosen support level of 0.04 BTC that the pumper seem to be trying to maintain. Bitcoin dark was supposedly up on the news it was being merged into a new coin called Komodo. Maybe it was the day for bit-anything.
Graphics from Poloniex.
Posted on March 28, 2017, in 1Uncategorized and tagged Bitcoin, bitcoinplus, currency, manipulation, Pump and Dump. Bookmark the permalink. Leave a comment.
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