Cumrocket Crypto Price and Clever Ways to Profit
Launched in April 2021, Cumrocket is a fairly new cryptocurrency but the cumrocket crypto price is attracting the interest of investors and prominent influencers from all around the globe. The crypto mainly focuses on the marketplace for adult content where it serves as another alternative means of digital payment. Ever since its launch, many creators of adult content are paid with it as a special token. It’s commonly referred to as “Cummy” or “Cummies”.
Cumrocket Crypto Currency Where to Buy
We get this question quick frequently lately. Where it the best place to by cumrocket crypto? This coin has gain in popularity so rapidly that it was very quickly added to the list of altcoins offered by our top recommended altcoin exchanges. I have listed them here in prioritized order. Any one of these three exchanges will provide you with quality customer service and adequate market liquidity.
A Brief Synopsis of the Cumrocket crypto price.
CumRocket currently ranks at #1055 in the comprehensive crypto rankings. At the moment the cumrocket crypto price is hovering around $0.00318 per unit. There are about $1.32 billion ( 1,320,428,308) in circulation currently against the crypto currency’s market cap of $4.21 Million ($4,206,858.72 Cummies).
This cryptocurrency is a good investment both in the short-run and long-run. Over the past few days, its value has been steadily increasing, and it’s the recent Elon Musk tweet that saw it become up to 85% more valuable.
The Elon Musk Tweet Effect on Cumrocket Crypto Price
On June 4th, 2021, approximately months after the Cumrocket crypto was released, Elon Musk tweeted three cryptic words on his Twitter account; “Canada, USA, Mexico.” What followed the cryptic tweet was speculation and conspiracy theories covering a wide spectrum. These cryptic tweets quickly spread across the globe faster than wildfire.
Musk’s tweet was later interpreted by someone called “Mr. Whale”. Mr. Whale has 220k followers on Twitter and he speculates that the cryptic tweet was referencing the Cumrocket crypto price. Surprisingly, the Tesla SEO who is also the richest person in the world currently commented on his prediction, saying “Nice Thread”. This saw the value of the cryptocurrency go up by more than 85%.
Short Selling Cumrocket crypto price
Short selling is one of the most incredible ways to profit from cryptocurrency, stock, or shares for experienced investors with great prediction skills. Since this trading strategy carries significant risk, it presents a high profitability potential. After all, the riskier the business, the more profitable the opportunity.
For starters, short selling speculates on the decline in a crypto’s price. Note: This advanced crypto trading strategy should only be undertaken by experienced traders as it is very risky. That’s because you’d lose money if the price of your digital currency ends up increasing instead of declining as you may have speculated.
So How Does Short Selling Cumrocket crypto price Work
An investor will borrow a cryptocurrency like Cummies or any other that they believe will decrease in value soon, based on their expert analysis. They will then immediately sell the borrowed Cummies to buyers at the market price before the anticipated price drop begins. Then, if the Cumrocket crypto price plunges, later on, the trader may offer to buy the coins at the current lower market price instead of returning them to the lender upon the expiry of the debt period. Since no one wants to hold on to a cryptocurrency whose value has declined, the lender will be left with no choice but to accept the buy offer. That’s how short selling Cumrocket is done.
Consider the following hypothetical trade:
Let us assume that you borrow 1,000,000 Cummies worth $0.00318 each or $3180 collectively. Then immediately after that, you decide to sell them all at the market price so that you pocket $3180. But a few days later, the Cumrocket crypto price drops by half so that each Cummy or coin costs $0.00159.
Now, when it comes time to return the borrowed coins. You can decide to pay the lender instead of returning the coins, you’ll only have to pay him half of what you made, that’s ($0.00318÷2)1,000000 = $1590
But, if they insist on having their coins back, you could easily buy some coins from another seller, of course, at the market price, and settle the debt with the lender. What originally was a debt will now net a handsome $1590 profit. Now that is something to brag about!
Buying & Holding On To the Coins Until Their Value Goes High Before Selling
Another great way to make money with Cummies is through buying and holding on to the coins until their value goes high before selling them. Cryptocurrency prices are some of the most unstable prices in the market. Price volatility is what makes these crypto trading both profitable and risky.
For example, the Cumrocket crypto price was about 45% lower last month than now. With a single Comerocket crypto going for about $0.00175 and you bought your 100, 000 Cummies for $175 i.e ($0.00175 × 100,000), you’d make a 45% profit when you sold them.
Why Are Cryptocurrencies So Volatile?
The main reason Cumrocket crypto prices are so unstable is that investors are both highly zealous and paranoid. Being overzealous about this cryptocurrency makes them buy more of it if there’s any positive news about it. However, the price volatility is what allows us to buy low and sell high!
For example, when Elon Musk cryptically mentioned Cumrocket crypto price on Twitter, many investors ended up buying more of it, thinking that Musk was also investing. This caused the price of the Cumrocket to surge by up to 85%.
On the flip side, when the price of Bitcoin and other altcoins plunged to their historic lows, Cumrocket investors became paranoid and sold off some of their coins. This, intern, caused the price of Cumrocket to plunge by up to 45%.
Cumrocket or “Cummies” is a fairly new cryptocurrency with great profitability opportunities for smart investors. For this reason, it has gotten the attention of many investors, including the world’s richest person, Elon Musk.
If you want to make money off the Cumrocket Crypto price, there are two ways you can do that. One, you could short sell it, using careful analysis along with your trading skills and experience. Here, you don’t even need initial capital. All you need is a fellow trader who can lend you some Cumrocket Coin that you can short with. Two, you could buy and hold on to some Cumrocket coins while you wait for the cryptos’ price to surge before selling them.
As always you should consult with your financial advisor before making any investment. This is provided purely for educational purposes and is not intended to be taken as investment advice.