Monero XMR / BTC 0.00116
I'm in panic.
Sell or wait?
Sell and re-buy in january when GUI/DB is completed.
you mean sell low and buy high?
It's better to get back some then none?
If price continue to fall this fast as it is now, in next 5 days price will be a half from this one which is horrible.
Without regular whale support OR user growth as we had from May-September, XMR has found a new equilibrium (still going down, though), fully mined ~ $10 mm, close to DarkCoin and CounterParty POS cap (and 1/3 of the old base).
Unfortunately, this does make some rational sense, as Monero probably has a smaller community of users than either of those currently. In fact, it seems possible to even continue downward without either user growth or buy support.
Why did growth dry up at the end of September? Regular interest is still there - just not the requisite growth needed to support emission.
I'd originally thought tales of emission being dumped were a myth, but the fact that XMR hashrate has hardly changed through the price drop makes me think it's driven by botnets with free-electricity, who freely dump the 20k daily XMR at market, causing more dumps from weak hands.
Being more "fairly distributed" has been both a blessing and a curse - in the long run, it should lend XMR much credibility as an everyday "cash" like BTC (not a "stock" like many IPO app-coins), but in the short run, we are realizing the effects of this daily downward price pressure versus stagnant user growth.
The only "cure" to all of this is new users to start joining us again, most likely driven by continued development of platform and economy by both dev team and users. Will those with strong hands currently accumulating large amounts of XMR hold strong on the way back up? If so, resistance will be very thin, if and when that day comes. In the meantime, bless us holders.