Altcoin Price Bumping: Bitcoin is the first and topmost crypto coin in the cryptocurrency market. You can say that Bitcoin has a monopoly in the whole crypto market. If Bitcoin will crash, the whole crypto market will crash. And if Bitcoin will bump the whole cryptocurrency market will bump suddenly.
There is so many Altcoin available in the crypto market. Almost more than 3000 cryptocurrencies are being traded on different exchanges worldwide. These cryptocurrencies have similar blockchain technology. The investors who can’t afford huge trading amount for Bitcoin trading chose Altcoin.
What Are Altcoins?
Altcoins is the combination of two words Alt + Coins. Alt stand for alternative and coin means coins. So, the set of alternative coins is called Altcoins. All cryptocurrencies except Bitcoin are Altcoins.
Ethereum the second most popular coin with the second-largest market capitalization is also an Altcoin. Sometimes Altcoin gives higher revenue than Bitcoin. And this is the reason because many people are trying their careers in Altcoin trading.
But it is very difficult to understand the science behind altcoin price bumping and dumping. Altcoin can make you rich overnight and in the same way, it can be a cause of huge financial damage.
Today I will share some of my personal experiences with Altcoin that will help you to find the best source for trading and making a huge profit from it. So, let’s see the exact technology:
What is The Science Behind Altcoin Price Bumping
The whole cryptocurrency market and the single crypto price are decided by the overall demand and supply ratio of coins. If demand will increase, the price will start bumping. In the same way, when people will start selling demand will reduce and prices will start dumping.
In the case of Altcoin, most of the coins have hypothetical or imaginary price fluctuation. I know that they have to buy demand and supply but practically they don’t have any exact usability and any other similar base for stability.
Owner of Altcoin has the highest share of coins and they control market by buying and selling their share.
- If maximum stakeholder will sell the price will go down.
- When they will buy the coin price will start jumping.
- Fake bumping and dumping can be created by the influence of any public figure or businessman.
1. When Bitcoin Price Will Surge
When Bitcoin price will start surging continuously, then the people’s interest will turn toward BTC trading. They will not buy any other coin and demand will decrease. Hence the price of Altcoin will decrease.
2. When BTC Will Go Down
This kind of situation arises with any economic slowdown or recession time period. The same thing happens with this Covid-19 lockdown. In such a case, the Altcoin price will drop to its lowest possible value.
3. Reason of Altcoin Price Bumping
Altcoin prices will start bumping when Bitcoin and other top coins become a little much costly and their price becomes a little stable. In this case, it is a clear signal that these coins are going to give you huge profits.
Just buy these coins at their lower limit. And sell them when they return up to 10X profit from their buying.
Bitcoin Price Affect on Altcoins Price
|Bitcoin Price Movement||Effect on Altcoins|
|Bitcoin Price Will Go UP||Altcoin Price will go down|
|Bitcoin Price will go down||The Altcoin Price will go down|
|When Bitcoin price becomes stable||Altcoins price will go up|
|The sudden drop in BTC price||There may be a little bit of stability|
|Sudden price rise||The price will drop to the lowest level|
All private stakeholders who have highest share of these Altcoin can manipulate the value by huge buying and selling. Demand can be created by holding largest quantity. This increasing demand will increase price.
Altcoins can give 10% to 60% return in each weak or each month. Some Altcoin has given 250% return in 1 year. Dogecoin recently give 800% return in 1 day. It’s price surge from 0.7 to 8.5 INR.
Altcoins should be bought at the lowest price of the current year by comparing the previous years record. I have seen SXP coin price variation from 58 rupees to 500 rupees in less then 3 months. It’s quite amazing. You can cross check it on coinmarketcap.com.
Namecoin was the first Altcoin created in April 2011.
Bitcoin, Ethereum, and Tether are top 3 cryptocurrency in crypto market.