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RE: 3 Coins going up Today Within this Turbulent Times on Crypto

in #cryptocurrency7 years ago (edited)

I can't speak for these 3 coins in particular. Go on Bittrex (or any comparable exchange), sort by % change, and you'll see dozens of coins moving up despite the market correction.

There are a few reasons for this:

  • Pump and dumps can happen during market corrections (and many in fact do!). There are quite a few "scam" coins and industry specific coins (cannabis) moving up. In general, it's best not to pay attention to these.
  • A market correction like this presents a perfect opportunity for investors to buy into coins that were at an all-time-high prior to the drop. When there's enough buying pressure, certain coins can grow even during a crash. As a side note, if you've been eyeing a crypto but didn't want to invest on a high, BUY NOW!
  • News, developer updates, new partnerships, milestones reached, etc. will always have an effect on crypto pricing. If a crypto reached a huge milestone or announced a killer partnership, it can still grow during a crash.

Final note: If you're curious about a particular coin, I would recommend monitoring its bitcointalk.org thread. If a price increase seems "fishy," you can always see what holders of that particular crypto are saying about it.

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Thanks @proudclod for this response. Your recommendation about bitcointalk.org is really helpful when making a research, and to add knowledge when making a decision. I just voted your reply.