Nowadays a lot of shitcoins have made it to prominent altcoin exchanges like Nova and yobit.Most of the time their purpose is to help you get rid of your money.For eg when I started trading on yobit after spending some time on poloniex,a coin which I bought at 1500000 sats,went to one sat in just a minute and that's just one of many times I got ripped by shitcoins.Obviously I was angry and I vowed to never invest on any shitcoin again,But after gaining some more experience,I came to the conclusion that money can be made with shitcoins as well if you follow the pattern.
For example bitok is a shitcoin.It went from almost 1Btc to 4 sat in just 1 month but every time I invested in it,I made atleast 2x profit.What a lot of shitcoins devs do is that they release just a tiny fraction of the total supply at first and then pump the coin to moon.Due to the sudden increase in value people start panice buying and when a significant amount of coins are bought and buy orders placed by panic buyers,they suddenly dump.
Usually what some of these devs do is that they start by a huge price ie 1Btc per coin in case of bitok,shrp etc.Than they dump it 1st to let's say 100000 sats buy before dumpING further they pump it to a fraction of the orignal price for eg let's say to 500000 sats.Than they dump it to let's say 10000 sats and the cycle goes on until the coin goes to 1 sat.
So the key is to identify the key is to find such shitcoins.For that keep following shitcoins and never invest before it gets through atleast 2 pump/dump cycles.Second step is to set entry and exit points and that's where your instincts come into play.If you stick to these rules you can make atleast 2x on eBen shit coins.
Below is the example of bitok which during the most recent cycle I bought at 4 and sold at 8.
@umar25494 got you a $2.09 @minnowbooster upgoat, nice! (Image: pixabay.com)
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nice! And after it gets 1 satoshi, will it be ever pumped again? Do you think they leave the coin at 1 satoshi before restart all the cycle to 1 btc or they just forget the coin there?
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Is it worth to buy shitcoins after they dumped to 1 satoshi? They remain dead or does Yobit pump them again to the highs?
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From my personal experience,it isn't worth it but check for bitcointalk forum/slack for that coin.If dev is active and working on new features than invest without hesitation.take html5 and cv2 for an example.they remained at 1 sat for about 2,3 months but than got pumped to 5,6 sats.that means atleast 500% profit.
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Thank you... INGT coin seems like cv2 and HTML5, dev. will announce swap soon. Do you know Zur coin? I am observing it long time ago as bitok, they look like having the same dumping pattern.
About bitok I agree it is just an unuseful shitcoin however there is a big hype around it, I believe people would still buy and pump it by themselves, no bot needed, just an opinion. For example nowadays developer left a huge sell wall at 3 satoshi... because people were trading a lot there daily. And also pumping it by themselves... I also saw 2 - 3 x 1000 k satoshi pumps in a different pattern... no dump after. It is like that wall is there to keep price low cause people don't let it go down, don't you agree? As I saw those out of pattern pumps - maybe Big guys buying or maybe pump groups. But bitok is technically dead. The funny thing is the hype isn't. I myself feel tempted to buy a lot of this and wait for the hype after it reachs 1 satoshi... people could make it reach 10 satoshi at least...
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True,I bought some ingt a few weeks ago,waiting for the swap.about zur,you can make huge profits if you get in/out at the right time . That's partialy because it has a supply of just 80 million compared to more than a billion of bitok,secondly it is an old coin (started in 2013) and dev is usually active on bitcointalk thread..Moving back to bitok,I think the hype is true and i think once it go to 1 sat even dev will buy a lot to pump back as he wont be able to dump at that price.I personally think that he still has got a major portion of premine.
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Nice, followed you. Hope you can follow me back. Do support as well
https://steemit.com/crypto/@wtwl89/crypto-fridays
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Done :)
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all the verification at yobit, and you still get worse service than at Bittrex
cryptopia is messy, but 0 verification at all
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The only plus point of yobit is that you a lot of coins with huge potential get listed here first at very low price . That's why i
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awesome post @umar25494 followed and upvoted - follow me back to get some posts :)
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Thanka a lot bro :) done :)
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Good onemate. I like it
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Thanks a lot bro :) you've got some great content as well :) I've followed you :)
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