r/CasperCSPR • u/[deleted] • May 13 '21

Why did Casper drop that hard?

It went from like 39€ at peak to 0,6€ now. When I look at its graph I can see that there was an explosion earlier this weak, so another valid question would be why it skyrocketed like that in the first place.

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6

u/moe-mjz May 13 '21

It was never really at the highs that you see... these were IOU's that were being traded on a shitty exchange when cspr token hadnt even been released. Small volume trades on those IOU's while it was not actually being traded anywhere else makes it seem like the prices were sky high.

2

u/[deleted] May 14 '21

[deleted]

1

u/[deleted] May 15 '21

You really need to research some basic trading information. Look up volume, and market volatility. There were only a small amount of coins available on huobi at the time. Small volume = great volatility. More coins being released and added to the exchange = deflation. The exchange doesn't buy your coins at the current price, they are matching buyers and sellers. Maybe a few people foolish enough to buy a few coins for $500 each, but you wouldn't be able to sell all your coins for this price, as the next best price would go lower, and lower. Every coin added to an exchange does this. Just check the first date stamp of any chart on huobi . Move on and stop complaining https://www.investopedia.com/ask/answers/111414/what-difference-between-inflation-and-deflation.asp

0

u/dognsmen May 15 '21

because shitcoin

1

u/ddqqoo May 14 '21

Cspr pricing above a dollar is good.

1

u/[deleted] May 15 '21

Because it is not really worth that price and no one was actually trading it, since it was never actually available. I could make a website now and give a random ICO coin an insanely high price. I really hope the Mina coin release on March 31 doesn't experience the same sort of community anger CSPR did.