Probably because almost every bounty hunter is running to sell tokens and price drops because of that?
I don't see any other reason, I don't think investors will rush to sell tokens ASAP for lower price and lose money.
I feel like there could be many different reasons, some could beI don't see any other reason, I don't think investors will rush to sell tokens ASAP for lower price and lose money.
- People need money for other investments
- People that did bounty but did not buy the coin may be selling theirs so anything sold is profit
- Many ico have bonuses, say 40% bonus, so if they coin drops 30% and they sell, they still made profit
- Panic selling
- People selling with the purpose of rebuying when its lower. Enough ppl sell their coins, it creates panic, and then you can rebuy at lower price. As long as you sell first, then you can take advantage of the panic sellers. ppl with trading bots could probably take advantage of this.
- Bad news came about about the company after the ICO that caused ppl to loose their confidence in them. Maybe least likely to happen?
- Probably many other reasons too