Morons dump for no reason!!
The reason is Bitcoin:
1. FUD caused by South Korea’s new tax law.
2. CME’s futures contracts going to expire on 26 January, most likely to be another win for shorts (CBOE closed for bears too).
3. Weak hands being wiped out of the game.
I hope you are correct and things will turn around soon
I agree with above reasons although many people could have gotten dissapointed with quality/content of delivered video that was being prepared for roughly 2-3 months, sorry Weifa, nothing against project, but I think there were hopes to see at least snapshots of new interface or possibly some extra marketing involved... not huge fan of it myself, but gaining a little bit of traction could also help developers support additional expenses and give room for more future planning. Also benefit of greater community which can offer specialized help by directly working on the project - unless after application release developers are planning to shut-down project from development point of view and let Geo Application live it's own life
Crypto is filled with marketing, many of which are scams like Bitconnect (or my new scam candidate DavorCoin), and they take a lot of potential steam off great projects which can provide value to business and/or create extra awareness around crypto-space like Geo; tell me who wouldn't tell their friends of being able to snap few tokens here and there during a walk or on the way somewhere, they won't be worth much as mentioned today inflation is tiny, but they would get a chance to use and understand crypto without having to "invest financially", if they like it maybe in the future they will invest in other great projects, to mention Ubiq for example.
In the end all coins deal with some sort of inflation and most markets absorb it better or worse. Geo is planning to have fractional inflation comparing to others in coming years therefore market won't get slaughter with inflow of tens of thousands dollars daily - case for 90% of the coins/tokens. Thank you Weifa and rest of developers for setting this sort of inflation plan, I believe this choice will have many long term benefits for Geo. Good luck with the rest of swap!