Why BlackCoin Is Having a Monstrous Surge?

0
105

Why BlackCoin Is Having a Monstrous Surge?

ForexMinute.com – In times when all other top coins are strictly below average in terms of market cap and prices, BlackCoin seems to be the only cryptocurrency having a gala time in the cryptocurrency market. Particularly in the last 24 hours, the BlackCoin prices have seen an incredible jump and has risen around 24% within the same span.

If the smoke is visible, there must be a fire as well. There are number of factors that are favouring BlackCoin now a day and making its charts look “smokin” hot. In this article we are going to discuss some of the most conspiracy theories behind such an impressive sky-rocketing launch.

New Projects
There is indeed a difference between announcement and implementation. But in cryptocurrency markets, even the few ear-alluring announcements are enough to set a benchmark among competitors and none the least, among investors. Just based on speculations, we have seen coins like Auroracoin, Isracoin, and many others to join the top ten wealthiest cryptocurrencies club (they though didn’t stay there for long that’s another case). The reason why BlackCoin has surged such extensively can be credited to the new projects they have announced a week before.

**relatedarticle**

These projects are the development of a new decentralized Proof of Stake 2.0 platform BitHalo, custom wallets, android based wallets (alpha version already released on Google Play), and few other tactics to involve non-technical users into BlackCoin market.

Such projects indeed ensure to keep people’s faith in the coin. For instance, Litecoin users are known to have kept their investments intact while waiting for a full-fledge launch of Script ASICs. We can predict that BlackCoin investors also see a substantial growth once its projects start getting implemented.

Pump and Dump
Pump and dump is a sour reality of all the cryptocurrencies. This also can be one of the possibilities of BlackCoin’s monstrous rise. The market is already injected with confidence after the announcement of new projects. It acts like a perfect cover for major stake holders to pump the market by buying BlackCoin at their lowermost prices. And when the price has reached to its reasonable threshold, investors start shorting the coins once again, that ultimately drops its market cap and prices. This is called a dump.

We now leave it to the readers to decide whether they are expecting this recent outrageous surge to continue in upcoming days or not. But based on previous examples, we believe BlackCoin will simply fall once again irrespective of its forthcoming projects. Indeed, massive pumps are followed by massive dumps.

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com

Subscribe to our daily forex newsletter for free by visiting www.forexminute.com/newsletter