The best Dos and Don’ts for Altcoin pumps: buy under-performing altcoins that pump for bigger profits – 2023 Altpump crypto pumps key advantages
What is an so called Altcoin?
The word Altcoin is a portmanteau of “alternative” hence the term “alt” and “coin”, to form “altcoin”. It actually refers to a group of cryptocurrencies, ultimately all the cryptocurrencies other than Bitcoin.
How many Altcoins exist today?
The amount changes daily, as more and more coins are created. As of now more than 5000 of these “alternative” currencies have been created worldwide.
What are the most popular ones?
Some of the most well-known Altcoins (based on market cap) are Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Bitcoin SV (BSV), and Litecoin (LTC).
Are there multiple types of Altcoins?
Certain Altcoins are serving more purposes than exchanging the coin for something of value, and can be classified as “Utility Tokens”, “Security Tokens” or just “Meme Coins” like Dodge Coin (DOGE) for example. Check out the underlying projects of the coins for better investment decissions.
Finding under performing coins to make bigger profits
The easiest way is to compare different Altcoins and see there performance over the last 24h, few days or even weeks. You can visualise the performance via a crypto heatmap as I show you below. It is easy to spot which coins have been pumping more than others. Check out cryptobubblets.net for this.
Which coins will pump more than others?
Here a four key factors you could check to find under-performing Altcoins which are very likely to do better than others.
- 24h price change: Coins that haven’t been pumping as much as the rest of the market
- Market Cap: The lower the market cap the easier it is for it to pump very high
- Draw downa since ATH: the further away the coin from it’s ATH (All-Time-High), the more room for the pump it has
- Wait for corrections: After a time people will start taking their first profits. This gives you a better chance for a lower entry.
- Twitter and Social Media: The bigger the community the bigger the pump can be (followers, likes, retweets all matter)
What you shouldn’t do when the crypto market is pumping
Besides the Do’s there are a few Don’ts you need to understand. If you are clueless trading and trying to make profits you will very likely fail. Hence here are a few things you should keep in mind when trading such Altcoin pumps:
- Don’t FOMO in! This is the most important thing. Do not FOMO (Fear of missing out). Control your emotions and be patient.
- “The Trend is your friend”: when this pumps happen do not try to short them – unless you really know what you do.
- Only trade what you can afford to lose as this is very risky trading!
- If you trade Futures/Derivatives understand the difference between isolated and cross trading. If you trade isolated use low leverages (max. 10x!). If you go for cross you should accept a stop loss of -200% or more. This is needed to be not killed by the volatility.
- Monitor your trades. Move your stop loss to key support and resistance areas to take profits if the makert starts dumping.
- You can also use leveraged coins instead of Futures trading: like SOL3L, or ADA5L
- Keep an eye on active Traders and their Market updates to not miss important news, hence stay away from trading futures signals.
Those are some key take-aways for you if you want to profit from such Altcoin pumps. If you follow points you are more likely for make bigger profits in such volatily and pumping markets. But don’T FOMO is, there is plenty of time and even plenty more cash to be made The worst thing you can do is los