Why did the price fall so much?
Why did the price go up so much? Many altcoins went up 2000% and more, and many altcoins dropped 50-70% from their high. Obviously something that goes up so fast can go down fast too.
And of course there's the possibility of a "pump and dump", or even "dump and pump", all meant to get your coins cheaper. Convince people to panic sell before it rises again. The cryptomarket is highly manipulated.
Last airdrop, selling right before and buying back right after the airdrop would have gotten you 50% more, while holding your bytes "only" got 20% more. That means many people speculated to profit from the 20% airdrop, which failed for them. My guess is people now speculate "the other way": sell before the airdrop hoping to profit more than the 20%.
Since I've never seen this airdrop model before, I am eager to see how it turns out each month.
It does hurt though, having double the amount of bytes compared to last month, but it's worth less. Makes me feel like holding was a bad choice at that moment, but as always you can only know those things afterwards.
On the other hand: the people who are holding for 7 months now have seen their Bytes increase many times.
Everything is simpler. Everyone wants free coins
https://support.bittrex.com/hc/en-us/articles/115000808991Probably both factors are overlapping:
The last 3 months the Byteball price was so leveled that by the end of the distribution, Byteball will be ranked at place 8 til 10 in the market cap.
The current price of 420 $ or 153 millions market cap corresponds to 153 m / 0.36 = 425 m (0.36 -> 36% were distributed) market cap after finish of the distribution -> place 12
So, I would argue that Byteball is currently undervalued, but the market makes the price
.
But why this price? -> The majority of the basic strategies for profit optimization in current situations requires the maximization of the BTC.
(..disadvantage of the altcoins)
Holder strategy
Hold BTC (BTC are linked to BB-Distribution) -> receive BCC after split -> receive Bytes and Blackbytes -> Hold BTC + BCC + Bytes
Trader / Holder strategy mix (BTC + Byteball fan)
Sell Alt's (i.e. Byteball) -> aggregate BTC -> wait till BTC fork-> dump BCC -> by BTC -> link BTC to Byteball -> Hold Bytes /Blackbytes + BTC
Trader / Holder strategy mix (altcoins fan)
Sell Alt's (i.e. Byteball) -> aggregate BTC -> wait till BTC fork- -> dump BTC -> Hold BCC and by Bytes before next BB-distribution round (link the Bytes to receive also Blackbytes) -> Hold BCC + Bytes /Blackbytes
Trader strategy (hardcore trader A)
Sell Alt's (i.e. Byteball) -> aggregate BTC -> wait till BTC fork- -> dump BTC + BCC -> buy Bytes before next BB-distribution round and receive +20% (link the Bytes to receive also Blackbytes) -> Hold Bytes /Blackbytes for +20%...
Trader strategy (hardcore trader B)
Sell Alt's (i.e. Byteball) -> aggregate BTC -> wait till BTC price is max -> dump BTC bevor fork -> wait for BTC + BCC / altcoin Crash -> buy Bytes before next BB-distribution round and receive +20% (link the Bytes to receive also Blackbytes)
Personally, I see the BTC split (in its effect for BTC) like an airdrop.
It will have the same effects as we saw this in the previous rounds at Byteball distribution...