Pump and Dump Groups are a Cancer to the Crypto Market

PnD's totally ruin a chart, it is very discouraging when a pump and dump will temporarily ruin the price and morale of a crypto. The amount of people blindly entering the market and joining pump groups is really remarkable. I believe that if pump and dumps continue it will cause more regulation to come into the market. As we saw this specific issue brought up at the SEC/CFTC meeting this month. 

People should learn before investing and should know better than to support pump and dumps, but they don't. People actually give their btc and ether to owners of pump and dump groups, and then after paying for pump and dump signals they also give them their buying power to make their pump and dumps even stronger. 

I think that exchanges should do more to minimize the pump and dumps. It is ruining the market and giving bad reputations to good cryptos. Although, if the coin is actually good it will eventually recover from a pump and dump, but my point is this recovery didn't have to happen if the coin never got pumped in the first place.

I wonder how many people when a coin is brought up to them the first thing they think is wow I am still holding a bag of that shit I bought at double it's value. Instead of...oh yeah the team behind that coin is really good, or the whitepapers are really solid, or the community behind that project is huge!

I do see pump and dumps having less and less power and time goes on. I believe people that have been victims of pump and dump groups are separated into three categories.

1.) Decide to buy and HODL more stable coins.

2.) PURCHASE a pump and dump group membership, which makes the problem worse.

 3.) My favorite, they decided to ditch pump and dumps all together and educate themselves on the market to make wiser investments in the future.

As time goes on and the market continues to cleanse itself, I think pump and dumps will have less and less influence on the market. If not I think pump and dumps will cause regulation to come into the market. We all know there are way to many people who cannot take responsibility for their actions and the more people that complain about pump and dumps, instead of educating themselves, regulation seems inevitable.

I run a telegram group and someone shared a LUN pump signal, I removed it immediately because these things are not allowed in my group. Regardless, I am a LUN holder so I watched the way this pump affected the chart...

I got in LUN a while ago, so it did not affect me. Although, with LUN's beta launching at the end of the month I have a target to sell some of my bags at 400k satoshis.

This signal from the altpump said to buy LUN at 310k satoshis, which right now is a crazy high price to buy LUN, LUN pumped to 334k satoshis. It did not pump that much which is why I believe pump and dumps are loosing their pumping power, regardless since this pump LUN declined to 270k sats...

Before this pump, LUN was bouncing up and down but going up more with each wave. Since the pump it has been mostly red candles with some green but the greens are much smaller than before the pump.

There are certainly other factors than create downtrends in a market, but PnD's should be an irrelevant factor.

I have decided to join a free pump and dump group, so if I am holding a coin that gets pumped I am at least aware and can sell it at the top of the pump.
If anyone sees a big green candle and really thinks it is going to keep pumping, it isn't. Please go read my article at crypto advisors on bear and bull markets to try and learn the difference between genuine price movements and pumps. Usually if a coin has alot of volume the price movement is genuine.

I hate to ditch coins that I believe in, but I think it is going to be for the best until some of these coins gain some more traction and stability.