I really don't get it why is drk crashing so hard??
rc4 seems a success, yes it is till closed source but it seems to work.
People went crazy when rc3 was released and now we have a real working anon solution what cant even be compared to rc3 and instead of gaining some value its falling more and more. I really dont get it .. bitshares still doing good did I invest in the wrong anoncoin..? I must say I am/was really convinced about drk so I took a large amount of my btc in the last weeks to buy drk but I'm questioning myself now if it was a big mistake. And still when I think about it, it should be gaining value, all of the improvements that have been made lately and all the things you can do with these masternodes. Its a brand new concept that seems to work with probably endless possibilities and yet price is only falling ??
Can someone enlighten me ? I really don't get it. Or is everybody in the dark on this one ....?
Thanks
Because everyone was expecting a huge price bump for RC4. Except market-wise when RC4 was released BTC started to move downwards. Alts get slaughtered when BTC starts moving down. DRK held up surprisingly well, until after the RC4 release when people realized the price wasn't going to immediately pump. The reason for this was that money was exiting the crypto market in general, so obviously it would be hard to increase DRK's price as BTC is falling because BTC is the gateway into crypto.
The reason RC3 pushed the market so well is because the market was primed for it, and was waiting for news on which to move. By market, I generally mean market makers, IE what some people may commonly refer to as whales. There was a feeling of general optimism as the BTC price was stable/increasing.
Another thing. When you have lengthy periods of stability in BTC, which have been rare in its history, people look for profits elsewhere; IE, altcoin markets. Traders are like crackheads who constantly need a fix. If BTC stabilizes you'll see them complaining all over the place about the stability. They want volatility so they can make money.
So, to recap... BTC price falls... People flee alts to btc to fiat... thereby alt prices suffer greatly. Even if they are totally legitimate coins with bright futures, they are not immune when BTC goes down. Will alts forever be tied to btc? Who knows, but it's the way it is right now.
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