I purchased some Byteball recently for the airdrop on 7th August. I predicted the big dump right after the airdrop, but I didn't expect it do drop this much and to not recover.
what you need to know is that Byteball price was in a bubble like many other altcoins. they all went up at the same time and needed to come down and correct.
also the airdrop will always cause 2 things:
- the panic sell
- the sell pressure because it was free money!
if any recovery happens it will be in long term.
.whether it is a good idea to hold on to it long term and if there are any bag holders.
hold what you can afford to lose.
altcoin price are very volatile. it is best to take precautions.
Can anyone let me know how the price fluctuated a few days before/after the previous airdrops
price got dumped before the airdrop started, then it slowly went lower after.
and the general feeling about it - a genuinely good coin with good future prospects or just some other fade-away coin? Any advice on whether to hold for short/medium/long term and what makes it a good/shitty investment?
i can say with a good certainty that it is not a "fade-away" coin. it won't just disappear.
we saw the potential it has for growth and the volume is very high. the price nearly reached $1000 and there are so little number of coins that can say this after their release and being around for a year or so.
the next airdrops will be smaller though. if i am not mistaken 1/10 of this time. and with getting closer to the end of distribution you can expect less big dumps like the previous ones.
they recently did some stuff to incentivize merchants to adopt byteball which i think will help in the long term price too.
