Another point to add to toknormal's about volume/price - which is why the current prices don't bother me (with just limited trading I'm scoring a ton of free BAY so I'm
delighted actually - despite the 'loss' of my ICO coins in value).
In the early stages of a project, especially a software project, there are a ton of bumps in the road. In crypto you couple this with a ton of manipulation and volatility and FUD and there is a ton of money to be gained/lost, all before anything really can be seen in a polished state. These are all speculation bids for a future which may not be fully realized for years (even BTC is a baby in terms of real-world adoption).
On the other hand, since BAY has not been 'pumped' or artificially supported - as some have called for - we have a situation where all of the coins have a very small profit horizon. By that I mean that if you believe this is more than a $1M project -
ever - then it should be easy to see profits just from a price perspective. Many people hold BTC they bought at over $800... so for it to best it's ATH price will be difficult and require a large infusion of new capital as selling pressure will be significant. For BC it's even more the case - it would take close to a miracle for it to ever get over 50-60K sats again (although as most of those buyers have probably given up and sold at a loss the average price paid for the entire mintage is probably lower than this).
It's a weird trend in crypto that I've noticed over the past couple years trading it... people will
often sell coins at a loss (when you should
never sell) and will hold on to coins that have seen a parabolic rise in price (when you should
always sell). With BAY all the price has to do is crest ~295 sats (except for the few that bought during the tiny bump to ~310 after the markets opened)... and
everyone holding it is in the profits. Although it might take a little marketing to 'restore' the ICO hype at that point, it won't take very much at all considering the low volumes and sideways price action we've seen the past week.
To me I didn't buy into this coin because of the market price - I just trade everything, especially early on, because that's how I make more BTC to invest in these coins in the first place. I invested in the concept with BAY, and to a lesser extent, in David as a developer - because I've seen promise in his work and work ethic. He's hungry and an entrepreneur... and those are the only two qualities that really matter much in new business ventures.
Time will tell who is right and who is wrong - but you either take risks and participate, or you guarantee that you stay exactly the same as you were yesterday.
