Boys, what is the reason of this drop in the price ? Thank you.
Same as usual.
You really need to read the posts made by poolers.org to get a good understanding but here's a quick overview
Somebody wants YOUR coino cheap.
They place a sell order at a low price which manipulates the price shown.
You panic and sell all your coino thinking the coin is on its way out
They then come back and buy all your panic sells CHEAP
So the moral of the story is this
If you want to sell your coino then YOU set the price you want. If everybody did this other would be no cheap coin available.
There are a couple of problems here that means you may have to wait some time to sell.
1. Multi pools looking to turn a quick buck will only look at dollar/watt payback ASAP. We will almost eliminate this problem when gravity well comes on line.
2. Big miners who don't give a shit are only after a quick buck like the multipols. We can't get rid of these so easy and over the long term they will provide liquidity and help regulate the price. But until then the volumes are to low and they artificially manipulate the market
However, in the short term its the people trying to get you to panic sell that are the ones to look out for.
You can usually tell whos who by the volume of coin they are trading and some of them are very skilled and actually make a good living at your expense.
A big exchange will help with volume but we should wait until we have gravity well installed first.
I hope this helps to alleviate any panic you are feeling at the moment and encourages you to hold your precious coino