The very first cryptocurrency that I invested in was B3 coin. I started at the end of 2017, I believe mid-November. At the time the price was super low at $0.00096. During the period of super staking at 27.5% I decided to go for it. I did it all, bought the coin, installed the wallet, and even joined chats, forums, and blogs. Once this coin went up I would be ready.
Well it did go up… On January 7th it hit a high of about $0.029136. I was just web surfing when I made this discovery. Not a very good currency trader, I know. While the price was great I decided to wait to see if it would go up further, hopefully to around $0.25, at which point I could trade for a whole Bitcoin.
Well alas it didn't go up, in fact that exact moment I logged on to check it's progress was the new high for the past 3 months. When last I checked it fell down to $0.000135, definitely not what I'm looking for.
After searching and searching I still can't find the answer to why the sudden rise and even more sudden fall of the B3 coin. Is there anyone that has this information? Perhaps so that I can learn and know what the indicators are for next time… assuming there will be a next time.
Any info here would be appreciated.
Interesting story...
I am not an expert by any means but this may have been a pump and dump.
This is when someone makes a share look good making the price go up with more people buying in and then sells after it peaks, leaving that share to shoot back down/ possibly further.