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Author Topic: CANN coin dropped 75%!?  (Read 200 times)
glendall
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May 13, 2019, 07:03:18 AM
 #21

I am one of those who likes to monitor shitcoins, one of them is CANN, CANN falls because I heard the news that Bitrex will delist some coins, one of them is CANN. You can try to find the news in Bitcoin,

 
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May 13, 2019, 07:04:31 AM
 #22

I noticed CANN coin recently dropped about 75%. I didn't yet find any information about as to why. Does anyone know why this happened?
You are referring to this coin https://coinmarketcap.com/currencies/cannabiscoin/?

Currently it's only 27.12% down, but I wouldn't be surprise of this abrupt dump as its volume is very low.
We won't see a real movement unless we have some liquidity.

This coin could be a shitcoin as it only pump during the last bull run, and did not recover anymore.

You should open the full graphic on CMC page since also on 10May2019 this coin has lost another 30-40% of the entire value!
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May 13, 2019, 07:07:05 AM
 #23

it seems that https://bittrex.zendesk.com/hc/en-us/articles/360027926752-Pending-Market-Removals-5-24-2019 bittrex delisted the coin.
Even on Announcement on forum there are some complaints about wallet safety :
https://bitcointalk.org/index.php?topic=827998.msg51005471#msg51005471

I think this is the main reason, but perhaps the trading volume down, leading to the Exchange canceling the pair.
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May 13, 2019, 07:32:55 AM
 #24

for as long as altcoins existed, they have been getting pumped and dumped. but every time there are a lot of people who miss out the part that comes after the "and" and think the market only consists of the first part (meaning the pump) and there is no second part (meaning the dump) and because of that wrong way of thinking they lose a lot of money.

in this case CANN was pumped and needed a dump. it just happened that there was a negative news (Bittrex closing down its market) that triggered that dump and made it happen faster.

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May 13, 2019, 09:33:02 AM
 #25

Certainly, there is a reason for this. Try looking for the telegram group, ANN thread. If the negative news unfolds in the market, coin reacts worse. Investigate, if it is something to recover, wait a little longer.

 
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May 13, 2019, 09:46:07 AM
 #26

It can, not only one but very many coins dropped more than 75% from its highest peak. Main factors of dropping can be it got delisted from exchange, project team turn out to scam. Bad market conditions can be also a big reason for a coin dropping.
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May 13, 2019, 12:26:22 PM
 #27

I noticed CANN coin recently dropped about 75%. I didn't yet find any information about as to why. Does anyone know why this happened?
Just a typical shitcoin dumped and no surprising thing yet most of these things do happen the same on most coins in the market.They dumped hard and die.If you invested on that coin then better
moved on and just wait for recovery if ever thats still a big "IF".
Yeah there is nothing new in this most of the shitcoin would be like this and would end up being worthless.
This is why you shouldn't invest in those shitcoins it is like gambling your fortune and wishing to win some profit.
Hope you learn some lesson from your loss if you invested in it,
The recovery of shitcoins are so impossible.

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May 13, 2019, 12:27:24 PM
 #28

Bittrex delist seems to hit CANN hard. Bitcoinsv got delisted from binance and many more but still didn't get hit that hard. Sorry for CANN investors.

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May 13, 2019, 12:32:50 PM
 #29

Huge drop causes not by bittrex, if you check their ann, no improvements or any product by the team.

It seems another shitcoin dump.

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May 13, 2019, 01:48:24 PM
 #30

Huge drop causes not by bittrex, if you check their ann, no improvements or any product by the team.

It seems another shitcoin dump.

yes but the missing product and no improvements are not a news from the last days that can justify an heavy dump.
Some Big HODLER decide to sell a big stakes? Probably yes, but Bittrex is one of the biggest market for that coin, I see a good relation here Wink
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May 13, 2019, 01:56:57 PM
 #31

I really pity the holders that such really dumped on and especially those that really bought at the top before the dump. Such happened to a friend that was holding dgtx when it was announced that exchange launch was no longer going to hold and it dumped more than 70% within minutes. Crypto can by crazy, a little fundamental can crash the entire technical within minutes

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May 13, 2019, 02:25:24 PM
 #32

I didn't heard about this coin until now, but i think main reason can be delist from bittrex, i don't know what team will do or if will continue support project, but if team will search new exchange coin can recover.

 
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May 14, 2019, 03:41:42 PM
 #33

I noticed CANN coin recently dropped about 75%. I didn't yet find any information about as to why. Does anyone know why this happened?
I honestly don’t know anything much about CANN coin, but wouldn’t be too quick to judge that they are shit coins, because now that bitcoin is pumping in price, most of the altcoins are going low in price, probably because people are presently dumping altcoins for bitcoin which is normal.

Many of these altcoins will rise back to their initial value later before they go on their bull run, and I guess this will be the best time to actually buy the coin, now that it has gone as low as 75%, but you still have to make sure that the project and the team are both solid and they have a working products that will make people consider them back after taking profit from BTC.
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May 14, 2019, 07:00:38 PM
 #34

Most likely the fall in CANN prices due to security and also the interest of its fans who might have switched to invest elsewhere. But there must be more core causes. I don't know specifically, but you can search for news on social media and telegram groups. Something similar also happened with WPP ENERGY in the past few weeks which experienced a significant decline. Even though it a new  token age, it had only just entered the stock exchange in April 2019.

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