The price is going down because it's a scam. And the people that run it have already made their profits and moved on. It'll continue to drop until it becomes yet another scam ICO with a good enough sales pitch to convince people to pump $150M into it.
How exactly is it a scam? How exactly have they "already made their profits and moved on"? They are still frequently providing us with updates (e.g.
https://blog.bancor.network/price-floor-smart-contract-deployed-621871bd09ca). Why would they even bother if they "have already made their profits and moved on"? Why would they allow people to sell BNT at a minimum price of 0.01 ETH until 120 000 ETH are gone? Wouldn't it be better to just take all the ETH and run?
Because the people involved and the ones that are behind this ICO deal with binary options, CFD and forex trading and that's exactly what they do. This ICO is just another way to lure innocent investors who think they can become early adopters of something that will be big and profitable in the future and in the meanwhile clean up on the invested monies. BNT had already reached $2.7 - that's a 90% drop in the past 7 days - the 4th biggest drop in all currencies according to coinmarketcap.com. You'd have to be practically delusional to assume it'll bounce back and live up to the fantasies it presented.
1. Where is your proof that they deal with binary options?
2. The ICO price was at 0.01 ETH. The current price is now 0.010303 ETH. Not exactly a 90% drop. In addition, many of the other cryptos have dropped in price as well as expressed in USD. Based on your logic, all of those must be scams, right?
3. Why would they allow people to sell BNT at a minimum price of 0.01 ETH until 120 000 ETH are gone? Wouldn't it be better to just take all the ETH and run?
4. They are still frequently providing us with updates (e.g.
https://blog.bancor.network/price-floor-smart-contract-deployed-621871bd09ca). Why would they even bother if they "have already made their profits and moved on"?
Please provide answers to the above questions.
I'll answer inline:
1. Where is your proof that they deal with binary options?
Spend 15 mins on social networks and you'll find the connections.
2. The ICO price was at 0.01 ETH. The current price is now 0.010303 ETH. Not exactly a 90% drop. In addition, many of the other cryptos have dropped in price as well as expressed in USD. Based on your logic, all of those must be scams, right?
I don't need to review every crypto to know that the Bancor ICO is complete BS.
3. Why would they allow people to sell BNT at a minimum price of 0.01 ETH until 120 000 ETH are gone? Wouldn't it be better to just take all the ETH and run?
If they took everyone's money and disappeared it would've brought all hell down upon them. Better to make some and keep everyone guessing than to outright steal it all and run off. Even if they made "only" $30M it's still a nice payday for a few months of work.
You can't really "move on" and disappear in this digital age, especially when you make your payday with cryptos which is all online and available for everyone to see. Since most people are clueless as to how exactly they're going to monetize on these ICOs - i.e "I'll be a proud owner of X BNTs and get my bounties and it'll be worth x100 in 1 year and I'll be rich".
Know what, I'm not trying to convince you or anyone else. Just my 2c.