Fellow beings,
I have been following Chaincoin since the past 3 days when it was trading at around a dollar. I looked up coinmarketcap and was surprised to see a coin go up by 4000% in the past 7 days. I started wondering what was the basis on which this particular coin was rallying. I got to know about the HODL movement where a bunch of individuals started investing in a coin cutting the supply and increasing the demand to increase the price of the coin. The price movement had nothing to do with the the the company is performing. It is just a short term gimmick to make quick money by a few people. This begs a question on how the market could be manipulated in the short term. The hodlers aim to drive the price to $100 and I wouldn't be surprised if it did reach the same. The price is jumping 100% every single day. At this moment Chaincoin is trading at $6.26, 8 days back it was at $0.1. The price has become 62 times in mere 8 days. It seems unreal wishing that I would have jumped the boat when it was indeed at $0.1. It is a great experiment though to make quick money without any significant changes in the underlying company but how the market will react when the investors start dumping is something that would be interesting to watch.