XRB (Nano) is loosing ground - why

[hs84]

hiii!!

i am pretty new here. but watching the market since a year.
the hole market is going up again

but nano is one of the coins which is going down quite hard.
does anybody know WHY?

average one week is around 20 - 25% plus
nano 15% in minus

WHY?

[AlexaSonda]

hiii!!

i am pretty new here. but watching the market since a year.
the hole market is going up again

but nano is one of the coins which is going down quite hard.
does anybody know WHY?

average one week is around 20 - 25% plus
nano 15% in minus

WHY?

Which I heard because of the many problems that occur in exchange, XRB deposits and withdrawals are not available at the moment. The average user switches XRB to BTC and transfers their funds to personal wallets or other exchanges.

[iwouldntknow]

Look at what price it was two months ago.  In the land of massively overvalued crypto, it's near the very top of the list. 

[makishart]

hiii!!

i am pretty new here. but watching the market since a year.
the hole market is going up again

but nano is one of the coins which is going down quite hard.
does anybody know WHY?

average one week is around 20 - 25% plus
nano 15% in minus

WHY?

hiii!!

i am pretty new here. but watching the market since a year.
the hole market is going up again

but nano is one of the coins which is going down quite hard.
does anybody know WHY?

average one week is around 20 - 25% plus
nano 15% in minus

WHY?

Which I heard because of the many problems that occur in exchange, XRB deposits and withdrawals are not available at the moment. The average user switches XRB to BTC and transfers their funds to personal wallets or other exchanges.

And the bitcoin bullish trend makes it even worst, how people are rushing to liquidate all of their xrb to the bitcoin to get stable increase. Look at the chart and how nano doesn't get any impact caused by the recent bullish trend of crypto. It's hurt for nano. it will be so difficult to make another comeback again while iota still stay at the top.

[Easy2Mine]

NANO is not guilty. He could not recover himself after only theft.

[bearex]

I strongly believe it will recover. Reason being, there is nothing at fault with Nano or the developing team. The only reason for this panic is the BitGrail scam. I really think the owner did it on purpose to gain money, and now he is even reopening the exchange, what the fuck.

Right now, NANO is being severely oversold. So it should bounce back soon.

[witch]

I think there will be a lot of pressure when Bitgrails opens the doors again and all those hacked guys will try to dump the rest of their coins.

[kulakvlad]

I believe that when the market recovers and the XRB  price of also starts to rise. The project is good, and these problems will soon end.

[mk111]

Nano is the worst investment I have ever made :S

[aceptamosbitcoin]

I believe that when the market recovers and the XRB  price of also starts to rise. The project is good, and these problems will soon end.

The problem is the markets are already recovering and showing growth, but NANO is totally decreasing.

I guess the other guys are right about the reason, the Bitgrail hack. But I think we will need to wait 6+ months to see a better prices for Nano.

[BTCLovingDude]

welcome to the world of altcoins also known as pump and dumps.

what you see is the dumping phase of a pumped coin. since they changed the name and got some hype going on the price of this coin started getting pumped hard. and after the pumping phase ends the dumping phase starts, which you are seeing now.

Nano is actually an interesting project though. but this is speculation board and that doesn't matter.

[aziernest]

it's refueling for another moonshot + recent fud/bitgrail scam it's going to take longer than expected

[Red-Apple]

you can never expect any altcoin to always go up, their rises can never be strong or consistent and that is mainly because there are no "real use cases" for these altcoins. so what you see as rise is thanks to pure 100% speculators investing in said altcoin and speculators don't stick around, they want to move to the next coin to make the same investment there and then another....

[styca]

The bitgrail incident was the trigger, but Nano looked overhyped as well, and was probably due a dip. I wasn't expecting so much of a drop, especially with the rebrand which usually causes an upturn... but I suppose the bitgrail thing overshadowed the rebrand - a bit unfortunate timing-wise.
But Nano still looks solid, and available at a discount at the moment!

[tmoney88]

XRB has had to deal with so much FUD due to problems with various different exchanges. I still think that they have great potential, and the ability to do fast and free transactions. As long as tehy are able to overcome this FUD and negative attention, I think they will be just fine.

[lokinator]

I am not sure how any coin could be "loosing ground" ... I really wish people would figure out how to spell "losing" -- it's a very simple word. I would support a massive scale study as to why an estimated 95% of the English speaking world seems to replace "losing" with "loosing."

Why are people so keen to add an extra o? WHY?!

 

But, to answer your question -- I believe this is a temporary setback for XRB. I would just continue to HODL until it recovers. It's a good project.

[AshCoins]

It's still over 1000x from November.  This thing was pumped to ridiculous heights and needs to fall a lot more before it makes sense to buy in imo.

[preshpr1nce]

Solid project that gained a lot of hype during it's pump, too many bought in at the wrong time, now you see the result, this is why I try to avoid hyped coins going upward even if it is a solid project

There was also around $170 million in nano stolen/hacked from Bitgrail, so I'm sure this is probably being cashed out too.

Wait for it to bottom, still solid, if you've bought higher than now just hold, I'm predicting top 10 for this one by the end of the year.

[ahmed]

because one of the market that sells buy nano lost 17 million nano, 17 million nano has been stolen so nano prices fall deep enough, maybe that's why nano prices down.
but I think this is only temporary, next month will rise again.

[witch]

It's still over 1000x from November.  This thing was pumped to ridiculous heights and needs to fall a lot more before it makes sense to buy in imo.

Yes, I also think that Nano will be pickable between 10k and 30k. Will not touch it in the current price zone.