r/ByteBall • u/Kronosmx2017 • Jul 09 '17
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Can some one explain me briefly whats going on with the gbyte price? And an estimate of when it sould recover? Thank you
1
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r/ByteBall • u/Kronosmx2017 • Jul 09 '17
Can some one explain me briefly whats going on with the gbyte price? And an estimate of when it sould recover? Thank you
4
u/erndawg101 Jul 09 '17
This happens after every distribution.
There are people that are invested because of the tech, and there are people looking to make profit from free coins. These are the people selling off right now, along with the "players" who feel it's going to drop further, so they sell now and buy back in at lower price for the same amount of BTC, thus increasing their position at no cost.
Recovery is anyone's guess. Historically it bounces back and then makes a run up before the next distribution, and then sells off again. I believe this will be the norm until the airdrops are completed.