@raw1 3 reasons I can think of that hurt it.
1. From the beginning there was a stupid greedy whale suppressing the price and putting sell wall after sell wall. That killed investor confidence, and created a lot of bagholders and now when a whale shows up with a 42btc buy wall, there is no confidence and demand, so people continue to dump at any opportunity they get. The whale then goes lower and lower with the buy wall, as a result lowering the price.
2. The devs set way too many specific ETAs including new "features release this weekend" and release in a "couple hours", and its been 2-3 days with no much of a release...ETA came and went with nada..people panic and dump. So I hope from now on the devs dont give specific dates. They should give round about ETAs and more importantly make sure all the bugs and kinks are worked out before releasing or updating.
3. People want to catch the train on other coins, like right now Crypt is booming, and they dont want to miss that shot. They have most of their btc caught up in downtrending/stagnant coins (like Cinni) so what they do is dump those coins to catch the hyped coins with the hope to make a quick buck.
..for what its worth, my two cents.
- we can fix 2 and 3. But only way to deal with whales is higher buy support. Our problem is instant uptrend followed by instant down trend. We need to move slowly, 3 steps up 1 step down and keep repeating.
- Devs should be smarter. They are hurting this coin more then whales. They should only release ETAs when actually they have 100% product. So they can work on the project, then do testing. Once they are confident, there is no crucial bug, they can set the ETA and keep testing by the release date.
- Once we have stable coin rising slowly but surely, it will attract more people. Look at this stupid POT coin. It offers nothing, no extra feature. Not promising anything, but keep rising. On the other hand, CINNI promises a lot and we have good working devs (minus the ability with time management). I dont see a reason why this shouldnt move up. But the question is "will it stay there"?
lol
