So,
What's going on?
The price is dropping! I don't really understand if it's a big dump or other.
What do you think?
What's going on?
The price is dropping! I don't really understand if it's a big dump or other.
What do you think?
It's sad to see the price falling continuously. The week view isn't pretty. While on the other hand the difficulty continues to rise.
This tells me two things. We have two groups, the onces who want to sell off now before they feel it's going to fall even more, cut their losses as such. And the other group who believe in Dark Coin, who are finding this coin and mining it hard to get as much as they can before the price (hopefully) sky rockets, along with the difficulty.
You have to factor one thing: There are people who bought tens of thousands to hundreds of thousands when DRK was at 0.0000xx and 0.000x price ranges. These people are not "cutting any losses" selling at 0.00x. They are simply locking (major) profits.
Regarding miners etc, as the difficulty rises (and it is already quite high) the equilibrium of mining DRK to sell for profit changes. This means that instead of mining/selling/locking daily profit, miners will shift and instead other coins will be mined/dumped. Those who believe in DRK will mine and hold and those who believe (but do not mine DRK) will buy DRK with the profits of mining something else. This will reduce the coins profitability but in turn, paradoxically, help the price.
As for the "falling continuously", it's not an isolated incident that affects DRK per se. Check other alt coins and their graphs. But, at the same time, coinmarketcap position is relatively stable (we may pass worldcoin actually - it's getting closer).
+1
Price is actually quite stable relative to other Cryptos.
