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Hi,
I'm new to ICO's. I have a question about how far below the ICO buy in price can a coin could possibly go?
In theory:
People invest in an ICO at $0.01. It comes out on the exchange at $0.03. Many people are going to sell for a quick profit which will reduce the value/price of the coin. Obviously, they will not sell for less than what they paid, $0.01 (or very few, would). Therefore, theoretically (if there were no miners selling coins they mined for "free"), the price shouldn't drop much below $0.01.
Am I missing something? Is it possible in the rapid post ICO dump, that the price could go far below the ICO buy in price (i.e. $0.005 or less)?
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