Coins are literally exploding right now
When anomalies occur, you better be asking yourself why; you better try to understand what is going on: Understanding an occurence is the key to be able to take full advantage of the situation.
Over the past 3-4 days, money has been pouring into cryptopia because youtube personalities and twitter personalities told their followers to buy CHC - a coin listed on cryptopia but not the bigger exchanges such as Bittrex. As a result, you can see the profound effect this has had on the volume charts for cryptopia:
As you can see, ChainCoin has captured nearly 63% of the markets volume. The mentality is now all alt-coins have a potential to breakout; what will be the next chaincoin? What will be the next Neutron? This is causing many people to pour their earnings from ChainCoin into many other, previously unknown and forgotten about coins on cryptopia.
A graph like the one below has been typical for today on this exchange:
Even though BestChain had experienced growth of more than 100%, people are still buying... Why? Because they all hope it will breakout in the same way that other alts have. Every purchase gives previous purchasers more hope, and fuels the purchase of new buyers. It's all turning into a self-fulfilling prophecy. People watched the astronomical rise of ChainCoin and Neutron and now believe any coin can achieve the same thing.
Here is a chart of the top 25 coins or so... You will notice all of them are hundreds of %s in the green... Again, there is a mass hysteria of buying as everyone is trying to get 10x returns on their initial investments.
My advice? If you're not prepared to lose your investment stay out completely. However, if you're a risk-taker like myself, diversify and take less profits than you think are possible.
Everyone wants to sell at the All Time High, but only one person will. Sell when you can realize a healthy profit and get out as quickly as possible.
