Hi,dear HIVErs.
I can see a lot of posts people being happy about the price of HIVE rising rapidly.
I hate being the one to beat this down but it looks like a random case of pump'n'dump looking at the graphs.
A quick google search on the theme will reveal similiar or equal patterns when these schemes occur.It looks almost the same as the HIVE graph last few days.
So,i basic notes,a pump'n'dump happens when a group of people agree to buy a coin which they think has a low price.After they buy it they lure people,usually by discord servers to get involved in the scheme.Many people join and the creators of the scheme say they will all buy the same coin at the certain time.They reveal the time in advance but which coin are they pumping is unknown until a few minutes before the event.The creators set their TAKE PROFIT limits and reveal the coin.People who believe will profit from this start buying coins rapidly which pushes the price to the TAKE PROFIT limits of the creators,which becomes a "sell-off" driving the price down,people lured in the discord server start panic selling because they are at a loss at this point,driving the price to pre pump'n'dump event.
Only the people who "created" the event profit from this and no one else since they bought the coin days before the orchastrated event.
Please be responsible with your money.
Thank you for reading.
STAY SAFE.
