This is what i like to call, "the post ICO dip" and is why i don't invest in ICO's. I've noticed it happening all year to majority of the coins after hitting the market.
Storj: you will notice it started at about $.52, shoots up to $.84 quick, and within one week dips to $.29
AdEx (ADX) starts at about $.25, dips to less than $.11
%20ICO%20dip%20chart.png)
Monaco (MCO) starts at $2.25, small shoot up to $2.40 before the major dip to $.64.
%20ICO%20dip%20chart.png)
Bancor (BNT) starts at $4.49, dips to $1.40.
FUN starts at $.017, dips to $.11
TenX (PAY) starts at $1.11, dips over 50% to $.53.
Basic Attention Token (BAT) starts at about $.17, dips to $.07
SALT starts at $6.91, dips to $3.52 in the first day.
When i can buy coins after the ICO at less than half price most of the time, why invest in the ICO? Over 90% of the ICO's i've researched over the last 6 months have had a major dip within the first few weeks of hitting the market. All of these examples i've posted here had their dip in the first 3 weeks of trading.
This is not investment advice, it is just the reason why i personally would never invest in an ICO until it hits the markets.
Congratulations @lulasky63! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPDownvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
What about Kyber, OMG and Chainlink. I agree it 's true for most but not for all.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Definitely not true for all. That's why i said in the article that it was for 90% of the ICO's i looked into. There is still the 10% that don't dip from what i've seen. Would i rather have a 90% chance of getting a better price or a 10% chance? I'll take the 90.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I can't entirely agree. I have hit it out of the park with a few ICO's and have profited like the article on a few as well.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Good for you, that's great. This is just the way i prefer to do it, there are many other ways to profit from cryptocurrencies.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit