$0.3-$0.4 look it
agreed. TenX was a hugely anticpated ICO with like 36k people missing out...and that sold for like 120% ICO price stable for a minute...but now is below ICO price. If promising projects like PAY and MGO already hit and dropped below ICO, then why wouldn't they tank?
Too much 'traditional' money holding this market up...you really think
those kind of investors will let their capital go into the red?
The smart, lazy crypto experts will just wait it out, and live off whatever fiat they already cashed in, but most investors here are going to liquidate for now at least.
THIS IS HOW IT WORKS ALMOST EVERYTIME!!! They kept testing the market downwards, and now it's looking bearish. It's only gonna take one more big downswing for TONS more people to liquidate, because they'll start anticipating it dropping lower too. I just don't see people being as irrational with the bear as they were with the bull. They're only going to start buying back in with the bull, and it's going to be a weird chicken-or-the-egg thing.
I could obviously be wrong, and kinda hope I am so I can just buy back in and ride the rush up again, but I imagine some guy with 500k in cryptos is sitting there hoping (probably from too many noob forum posts read) that the market will just reverse back up in a day. Then he wakes up to 430k the next morning...now he's really hoping that the market reverses, and he buys some more to lower his dollar-cost-average...so say now he's back at 500k (570k total investment) and wakes up AGAIN this time its 345k...he's about to liquidate that and wait for the bottom.
At least that's what I would've done years ago being fresh if I had had that money...and think of how many 'fresh investors' came into this market when they saw how many of us bought dash at $2 or Ether at $5.