Altcoins Pumping on Cryptocurrency Exchange Listing Brings Back Memories Of Bull Market

Tony "The Bull" Severino

5 years ago

2 mins read

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You can’t teach an old dog new tricks, but apparently, listing an older cryptocurrency on a new exchange can bring back memories of the cryptocurrency bull market that once was.

An altcoin being listed on Binance has resulted in nearly a 100% intraday pump – something that hasn’t been seen since crypto prices and exuberance peaked in early 2018.

Cryptocurrency Exchange Listing Bring Back The Return of The Bull Market Pump

During the 2017 crypto bull market, it wasn’t uncommon to see some cryptocurrency assets – namely altcoins – rise by over 100% or more in a single day.

Some rallies were driven by organic FOMO buying, while others were simply pump and dump groups manipulating prices to their advantage. More commonly, when a coin was suddenly listed on a new cryptocurrency exchange, prices soared.

Whatever was the case, these sorts of shocking intraday pumps have all but disappeared. Among the first examples of this, was when XRP, also known as Ripple, was listed on Coinbase.

Just the rumor of the coin being listed on the platform in late 2017 helped XRP to skyrocket by over 900% to its all-time high of $3.50. When the coin was finally listed on Coinbase, it immediately dumped and has been setting low after low ever since.

However, an older altcoin suddenly being listed on Binance today, caused the asset to rise by nearly 100% in a single day on the USD trading pair, providing what might be the first glimpse into the next bull market.

DGBBTC Daily | Source: TradingView

Digibyte Token Soars Nearly 100% Intraday Against Bitcoin Following Binance Listing

Today, the world’s most popular cryptocurrency exchange, Binance, listed the altcoin called Digibyte token.

Digibyte token has been around since 2013, reaching a peak of 13 cents at the height of the crypto hype bubble. At its low, prices returned to just a fraction of a penny.

Prices are now trading at over $0.02 per DGB token, however, it’s on the BTC trading pair where the real magic happened.

Following Binance listing the asset, Digibyte token went on a powerful 95% rally in a single daily candle. Profit-taking kicked in quickly, cutting the intraday rally to just 47% as of the time of this writing.

Although much of the rally was already erased, the fact that crypto assets are once again booming on news of nothing more than being listed on a new cryptocurrency exchange is a positive sign that a bull market may be returning to cryptocurrency.

According to some analysts, making money this time around won’t come quite as easily. But if more altcoins pump just due to a cryptocurrency exchange listing, easy money may be right around the corner.

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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