Bitcoin Forum

Hello,

What may be the reason on OMG pulling back so hard right now? I did not expect it really on such a big and stable project. It looked like we had a strong support line on 27-27.5k and now almost down to 24k again....any reason?

When it plan to recover? Is this a good entry point?

thanks!

Reason? Airdrop.
What comes free goes almost for free.

Not yet. I am waiting lower price. Untill their wallet launch ar atleast they announce when the wallet launch. If you are long investor yes you can set the entry point now. It is still 20X from ico price. Compare to stratis which has 600x fromico price it is still small gain.

9 $ good price, 7 $ the best price, the potential of the coin is huge, soon we will see a flight to the moon

What makes you think OMG has pulled back hard? Compared to other altcoins, OMG has barely dropped in price. It's ATH was around $13 and now it is trading around $9.7 which is about 25% drop in price. Even Bitcoin and Ethereum have dropped more than that. I want to buy some too but if it drops further in price.

It isn't really that strong of a pull back, it is just a correction and the main reason probably is some people wanting to unload some omisego. I am not sure when will it recover but remember that every dump is a good entry point. We cannot know for sure when a certain altcoin will pump and go down in price so it is better to buy when a dump just happened.

As others have already stated, there doesn't seem to be anything unusual with OMG other than the fact that it seems more stable than the vast majority of altcoins during this most recent market drop. It's actually quite impressive that the price is still in the ~$9-10 range. I was personally hoping it would drop a bit more so I could buy some more of it.

I bought my initial OMG coins at around $1.50 so I am pretty happy with its current value.  :P

Yes, I think when it falls, it's time to buy. I think OMG has great future ahead.

Yeah I just saw the price of OMG now and I agree with you that it has not dropped so hard at all. May be a few cents but not much.
OMG is surely a good coin. I remember buying OMG at 0.0013 btc and selling at 0.002 and those fluctuations were keep on repeating those days and I must say that I made a good profit. Currently OMG is at 0.0025 btc which for me is a high price since I used to sell it at 0.002btc . But I think now that OMG is gonna increase in price further more and must buy it at this price now.

Exactly, buy a token ICO when the price of this token pump to high price and keep in that price just make you have high risk.
Why do you change your eye to other tokens?
I think not only OmiseGo can helps you earn big profit, example Monaco also a good choice for you.

What was its price before pump? I think that would be a good entry point. I suspect it's going back but I could be wrong.

Price is falling because it was severey overhyped due to fraudelent marketing by their ceos taking pictures here and there and making promises without product or real partnerships. It is still in the high end though one can never estimate things correcly in crypto markets. Just my 2 satoshis speculating.

Looks like Vitalik Buterin is dumping all of his OmiseGo shares. This is what happens when someone has too much media power in crypto. They invest in the project, then they think it's to dump, they dump, then they make the news, short it, make even more money... it's a mess. The money skeleton has betrayed you again. Looks like not even all of these big brands can't keep this thing from dumping.

i think its still too high compare with the ico price, i am waiting for a lower price to enter, sometimes too strong a price may not be a good thing, it means many people will not buy back

I think after the initial pump it is still quite expensive. No-one knows how far it will drop though..

i missed the OMG train. way to late to invest right now in my opinion. but it could go much higher. what was the ico price?

OMG has a very good roadmap. I think we have to persist and keep this altcoin in a few months, if OMG has a product that really works, then this altcoin will definitely be considered as one of 10 potential altcoin in 2018.

omisego is too hyped. I am not saying it is a bad coin but it just released this year and price hyped up, it needs a break in my opinion

better to wait for the dip before entering this hyped its really hard to assess whether there's real development that investors will expect but the movement
is really unpredictable maybe below 5$ would be a good entry point so If the value start to move up profits can be taken.

a lot of potential but no solid product yet.
I have some OMG but I really dont like their marketing strategy.
Strong company behind it and a strong team. We will see what will happen...

I think it's falling because of the shipped market sentiment and there is a lot of selling pressure brought by all those who are dumping their airdrop stack.

Till now OMG a solid investment, you don't just panic the low price as all market turn red! Normally I wouldn't say buy but from purely an investment standpoint, it's pretty much good pick so far.

I hopeyou now that the team just dilluted the number of tokens in circulations through Airdrop, most of these teams are doing Airdrop now just to evade regulation after collecting millions from investors. I think those airdrop tokens have founf their ways to the exchanges and the price is dumping