The post What happened to influential crypto pumper Teeka Tiwari? appeared on BitcoinEthereumNews.com.

Anyone who’s been around crypto for the past seven years is familiar with Teeka Tiwari. In late 2017, he emerged as the most powerful promoter of digital assets, and although he’s faded from prominence in recent years, anyone who experienced his pumps will never forget his fame. They also might wonder if it was legal. When Tiwari added a coin to his portfolio, it wasn’t unusual for it to suddenly rally on millions of dollars of buying within seconds and tens — if not hundreds — of millions of additional trading activity throughout the course of the day. When he was at his zenith, every pick rallied without exception. Finding his new picks at the exact second he released them became so competitive that his website team hired sophisticated caching experts to handle inundating website traffic and to counteract trading bots. The Teeka Tiwari effect For example, Tiwari picked AION for his flagship crypto newsletter portfolio Palm Beach Confidential on March 15, 2018, at 4:00 pm New York time. One minute prior to his pick, the coin was trading around $2.40. One minute after his pick, it hit $4.90. After just 30 minutes, the token had added $20 million in trading volume yet had, predictably, retraced almost all of its gains.  Like most newsletter authors, Tiwari emphasized fundamentals and long-term thinking, but traders only cared about his initial, market-moving effect. Consider another example. Tiwari picked POWR for Palm Beach Confidential on January 17, 2018, in an unscheduled, 2:42 pm announcement. Within five minutes, traders had somehow found their way to a computer screen to place an additional $1 million in trades and boost its price 22%. Similar examples are too numerous to list. He added at least one new coin to his portfolio a month, and traders would carve out…

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Filed under: News - @ June 12, 2024 6:12 pm