It drops because Bitcoin goes up. Huobi seems to lead the show.
Also because of the sudden pump. The people not interested by the news and the underlying tech simply dumped their stake for profit, taking probably 10/15%.
Many don't even understand the news. They see an announcement but don't think about what this means:
Eight Federated Servers - Increased censorship resistance and globally distributed.
Eight Auditing Servers - 8 new auditing servers supporting the network.
Confirmations In Seconds Instead of Minutes - 600X improvement
More Transactions Per Second - 5X improvement.
Merkle Proofs More Accessible - Proof of Existence made easy with the factomd API.
Distributed Peer to Peer Network - Resistant to denial of service type attacks.
Graphic Control Panel For Nodes - Easily see the activities of the Factom network.
BIP 44 Wallet Support - Factoids can now be integrated into a wider range of wallets.
Robust Testing Infrastructure - New public test net and suite of testing tools.
Support For Multiple Blockchains - Bitcoin and Ethereum network.
- See more at:
https://www.factom.com/blog/factom-federation-release#sthash.R78pDKjZ.dpufAnd if they get it they ask where is it? Factom also answers that question:
Factom Federation is a significant upgrade from Factom Genesis. We will be rolling out Factom Federation and migrating our users, clients, and customers over the next few weeks. Thing is: They will push out some nice releases the next weeks. Those with the big buy-walls have understood. ;-)
The price movement is not about the news, or what is in the news. That's why time and again the majority of you will be baffled. Hey M2 is here, we're going to the Moon!... Not.
It's all about keeping everyone surprised and making the most money in the process. Play the long game, do not overleverage, take some profits on spikes, and you'll be OK. You'll be surprised again and again, on bigger spikes than you expect, and on bigger dumps than you expect.