Just thought I throw my 2cents on the recent price drop..
https://imgur.com/a/pGeHUIf you look at graph above (click on link if it doesn't appear), the purple zone shows the price rise associated with the HitBTC new listing euphoria.
- The HitBTC new listing rumor started to circulate within the BTX community on November 9th when price was at 120k-140k sats.
- Then on Nov 9th, ppl started to be excited with this new HitBTC listing rumor, and price started to rise to 170k sats.
- The dev team confirmed the new HitBTC listing news on Nov 11th. The quote below was posted on Nov 11.
Listing on HitBTC Officially ConfirmedDear Bitcore Community,
Bitcore will be listing on
HitBTC.com on November 16, 2017. This is a momentous day that will go down in Bitcore history! Buckle up and enjoy the ride to come!
Your Bitcore Team
- Then the euphoria started because everyone was expecting to see a huge volume from HitBTC. Everyone was expecting to moon!
- Then all kinds of HitBTC issues came up, adding to the ridiculously low volume made this new listing euphoria slowly go away over the past few days/weeks.
Over the past few hours, the BTX price came back to the prior HitBTC euphoria level which is below 140k sats. That's the green zone on the graph.
The BTX market did his thing and completely rejected the HitBTC component from its price. From now on, we are building on a solid foundation.
Have we reached the bottom? I think the answer is yes.
If HitBTC would have matched the expectation level everyone had, the price would have stayed in the $35 - $50 range. But HitBTC failed to deliver on the expectation we all had.
I think this is a good lesson for everyone in preparation for the next big listing.
I was looking at the graphs yesterday and saw the same thing! I was one of the ones holding and building on the hype of HitBTC to deliver but no dice. It seems the hype has died down and we are back to normal of finding the "floor" again. I do believe it will recover someday, but only when the FUD is addressed with action on improvements and upgrades to current issues, and getting on more exchanges.
Eventually, this coin and it's technical advantage will come to light and I believe that's when bag holders and accumulators will be rewarded.