There are Twitter Altcoin Traders That can Start a Pump
Hours ago, I went into my daily routine of checking any potential altcoin rallies in Poloniex. I usually check daily charts and look for signs of bullish/bearish divergences or familiar chart patterns that indicate reversals or accumulation/consolidation.
True story: I noted that Bellacoin BELA was somehow poised for a rally (my indicators say so). However, part of my routine is to look for news or hype to justify a rally (important factor in my trading decision, but only a small part. It only affects the size of my intended position.) So, I went to see the BELA Bitcointalk thread and saw nothing worthwhile to justify a pump.
Anyway, I moved on to another coin which is Synereo AMP. It was on a swing low and has an ongoing ICO with a bonus round. To me, it was a no brainer. A countdown to the end of the bonus round plus huge amounts of investments in its first hours — smells like a easy trade. An investor can get 22,000–27,000 satoshis per AMP in the bonus round of the ICO which is cheaper than the current market price of 28,000–30,000 satoshis. After the bonus round, the ICO will sell AMP at 33,000 satoshis.
I bought the dip around 28,000 satoshis and shared/shilled it to Coin Farm. Like I said easy trade and I’ll just wait for the bonus round to end and then sell around 33,000.
Low and behold, BELA pump to a 100%. I don’t know if it’s coincidence but I monitor some new Twitter altcoin traders and they seem to be ahead of these pumps. Maybe they and some market makers see what I see and decided to pump them anyway, even without any fundamental reason for so. Anyway, the risk here is stronger however the rewards are larger. Maybe next time when these guys tweet, I’ll join in with some trading capital.