Bitcoin Forum

Sell Algorand Fast, hitting to 0 = -10x loss

There is no good news for algorand, the project is scam and now it will hit -10x, do not believe on the current pump, just see this chart it is always dumping and there is no new good news. It will hit to 0 so withdraw as fast your btc from this project as you can. Look at the chart, the coin will be hitting to zero soon. https://prnt.sc/vf3jr6

I do agree with your statement and this is a garbage coin

https://coinmarketcap.com/currencies/algorand/

Algorand was trading -92% from the ICO price. This garbage coin never gets a pump. There's no good news even this company has raised a lot of money from the market.
A shit scam money grabber.
This coin will die soon. The current pump that happened in algo just a small pump that brings nothing.

Is this for real, i mean i was hearing a lot of good things about algorand couple of months back even it got listed on coinbase also i have heard that binance supports this project and it has also secured some good partnerships already so maybe you are just trying to create some kind of fud here. Even if you are discouraged from the dumps in value you can always sell and flip to the coin that you think will pump rapidly.

It would be great if both of you pointed out why a token is scam. Trading at -92% from the ICO price seems pretty common for almost 97% of shitcoins funded through Initial Coin Offerings. Founders of some of these tokens don't usually intend to scam anybody but the fact is that the tokens never get any demand at all once they hit the market. Every body is just selling off, so price keeps dropping regardless of interventions to keep the prices up. Market dictates everything.

OFC price will plummet with the billions of supply, it still even overpriced with the current price.
But i dont see it as a bitconnect but just overvalued coin that is very new to the scene.

What they really need is a greater demand but I doubt most of these altcoins will attract more people despite how promising their token. Well, this is the sad truth about altcoins once they reached the market everyone is dumping already thus, making the price to plummet drastically.

Alt coin pricing hit high based on the demand and use, there is no demand and use of this token, even there is no single dex, why people buy on cex? is there any single use of this token or other tokens even the neo?

you share a coinmarketcap link from algorand, did you see the rank from this coin mate,,? the rank is about 48 and the volume still huge about $78,702,880 USD in 24 hourd and thats good enough, i don't understand with you,,, and i don't see any reason if this coin will die soon buddy

what did you mean by no good news from algorand, maybe you should follow the twiiter account from algorand
so, when a big updates coming you will know my friend, here is algorand twitter link https://twitter.com/Algorand

I guess he meant about there's no good news that can make a big pump for algorand. In fact, the algorand developers were always giving the regular update about the news.
It seems like people called that as a scam caused by the price was getting plunged so hard.

10 billion supply and it's only 10% available in the market.
It seems possible for the price of  algo will go even less than 10 cents.

Projects with huge supply must be avoided like trx, ada, eos, dot which having billion of supply. There is no good future for such coins. They will take around 10 years to reach to their ath when blockchain will be around trillion of dollars.

I never read more about algorand, I don't know more about their project but OP if you think this is a scam, with valid proof you can always make a warning for other forum users.
Coins with big supplies can have a big plus, since they are easily accepted between several exchanges.

huge supply is not thats bad man, especially if the project team very active to developing their project, wich mean a new demands will always created
and for sure thats will push the price up, even in slowly but sureley

depends from your screenshoot link, its time to buy algorand, because the price already hit strong support zone,
wich mean a huge reversal will coming depends on technical analysis man

I think I don't see the value of Algorand token going up but the market cap will, reason being that a lot of these tokens are coming to the market and will create more selling pressure since there is no demand. Algorand is a good project but the team mess up the tokenmetrics which is said for those that bought from the market after the ICO

I don't also grasp why many are investing in this coin. I'm not agreeing with op but this is my personal thought about this project.
It is one of the top coins but its chart doesn't show some encouragement to invest. Maybe for some investors that like to gamble a lot, they'll take it into consideration but for me, I wouldn't waste much money on it.

If it's a top coin and it will always be showing a good chart and the price of each coin will be traded above the ico price. This coin was giving too much interest for the stakers.
The stakers were always dumping their algo when they got it.
I don't even think the whales are also wanna betting on the coin that is always giving red-candle.
It's too risky.

It is an anticipated move for stakers and also for investors. You can't remove that thought because we are investing to profit. Above or low ICO price, just move to the present of what it is doing.
Whales of that coin will always take advantage and they are wise to sell at the right time.

How much profit? if I stake $10 of algo, how much I will be receiving reward from staking algo per month?

you can check the link below if you want to know how much profit will you get if you stake about $10 of Algorand
https://www.stakingrewards.com/earn/algorand
and remember to do your research before you invest in any cryptocurrencies