There is no lack of price fluctuations in the cryptocurrency industry. Changes in USD affect Bitcoin and Ethereum first, the smaller-cap altcoins show interesting momentum also. The GeyserCoin price despite losing much value over the past week showed a substantial gain in the past 24 hours. It has risen by 70.75% in the past 24 hours. It is evident that someone is manipulating the value before dumping. GeyserCoin has a market cap of $12,014 and a volume of $2,360. A gain of 77.09% has been reported in the GSR/BTC ratio.
What is interesting is how the GeyserCoin price also lost 58% in value over the past week. It is despite the current 70.75% gain, indicating this market witnesses its ups and downs on a very regular basis. The all-time high sits at $0.9, although the present GeyserCoin price is $0.5.
For an altcoin which having no volume to speak of, this current uptrend is all the more intriguing to analyze. It is likely that this market is controlled by just one trader who is prepared to offload a large amount of GSR on new investors. FOMO is still a very real trend in the cryptocurrency world, and people will definitely chase profits whenever the opportunity arises.
GeyserCoin can be presently traded on two exchanges only. The world of cryptocurrency has witnessed its fair share of pump-and-dump coins. Although it is impossible to say if GeyserCoin falls into this category, the altcoin’s market momentum seems to hint at such activities being the trend, rather than an exception. Whether or not GeyserCoin will be around for much longer, remains to be determined.
