Here is who you should blame for the price drop. The whale that jacked the price up to 40k so soon. The idiots who dumped hundreds of thousands of coins around 1k sat on ccex. The whales who rented rigs and mined a ton of coins. Finally the bagholders who bought high and then dump only to buy lower and then dump again to buy lower. Together you all pumped and dumped this coin to the point of no return.
It is true that CLOAK bounced around between 15k and 40k till it went to 90k.
It only went to 90k though because it got added to Mintpal and got the Mintpal boost. It fell back to 30k afterwards. Whales were able to feed off what the coin was doing though and get it back to 100k to 150k before taking off on all the hype.
With this coin you have ninja launches or you know in advance. No hype. No Mintpal boost either. Are there whales in the coin still? There was at least 1 whale that took it to 40k and did they leave?
With so many coins it's hard to get new money since people are either going broke or leaving and not coming back or at least for now.
This was a once in a life time thing. Bitcoin which was cheap got pumped. Everyone now rich and not many coins to pick from so they pumped LTC, PPC, NMC. FTC and look at all of them now. The people that got rich off those coins moved to Cryptsy and Mintpal and probably lost a lot of money and made other people rich. Eventually the people remaining moved to Bittrex where we are now. Is this the end? Bitcoin won't make everyone 10x-100x richer any more nor will other coins.
All I see are people throwing money into coins and going broke.
The few remaining rich people are throwing their money into high quality coins. Some thought it was CLOAK but it seems they got tricked and it just keeps getting dumped. VIA seems to be holding up well.
Now you people can go back to doing whatever the fuck you do. Just know if something is going to happen it'll take weeks.