The world of cryptocurrency is filled with people who are looking to gain a financial advantage over others. That is not entirely surprising, considering there is a lot of money to be made. The altcoin industry especially has seen its fair share of pumpers, some of whom are more notorious than others. Always be careful when listening to others for altcoin investment advice.
3. Ryan Pumper
Although not everyone has heard of Ryan Pumper, this individual makes no bones about what he is trying to achieve. Using the @Pumper_Ryan Twitter handle, he advises people on how they should buy and sell altcoins on the Bittrex exchange. Considering Bittrex can generate quite a lot of trading volume for newer altcoins, it has quickly become the premier place for altcoin daytrading.
It would appear as if Ryan Pumper is no longer active on Twitter these days, as his latest message dates back to August of 2015. That being said, his timeline is filled with quite a few “pieces of advice” regarding cryptocurrencies. He also runs the PumperPicks website, although it appears very few updated are provided here as well. People who followed Ryan Pumper in the past may have made some good money following his calls, that much is certain.
When Dogecoin was first introduced to the cryptocurrency world, the currency was considered to be a joke. However, Dogecoin caught the interest of an individual going by the name of Wolong, who claimed to manipulate the Dogecoin market and make thousands of bitcoins while doing so. His actions even drew a reaction from former Dogecoin developer Jackson Palmer.
Dogecoin was only one of the famous “Wolong currencies”, though, as he was also involved in other altcoins going through significant pump-and-dump cycles. Many people believe Wolong is also the person responsible for creating Pandacoin, which ultimately collapsed after a massive pump-and-dump run. To this day, it is estimated Wolong made at least 10,000 bitcoin from his activities, although the total amount may be much higher.
It is impossible to discuss pump and dumps in the cryptocurrency world without coming across the name Fontas. This individual has become somewhat of a household name among altcoin daytraders. Pulling off a successful pump and dump is not an easy feat, though, as it requires both initial capital as well as social engineering skills to trick others into buying as well. The way Fontas – allegedly – did it was by buying altcoins at a cheap price using different aliases.
He would then announce on his Fontas twitter account about how one coin would be pumped. Since Fontas has a ton of followers, announcements like these will always create some market action. He would then create a large buy order on the day of the pump, which acts as a “wall”. Once people see this massive buy order, they start to buy said cryptocurrency as they believe it will not break through this buy order anytime soon. As the price goes up, Fontas then unloads his holdings and moves onto the next coin.
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