Quote from: DevelopmentBank on September 10, 2018, 10:09:47 PM

Quote from: Photographer on September 10, 2018, 04:23:32 PM

Think at all those hundreds of ICOs which have raised millions of dollars worth of ETH each. Some of them, like the scammish Envion, even 100M$.
Now in this bear market they see their wealth evaporate. They need FIAT since they are real world projects and they need FIAT to pay for infrastructures.
So they cannot simply watch at all those millions $ EVAPORATE and jeopardizing their projects.
It is true they have raised Millions $ but now those millions $ are shrinking further and further and so I guess THEY are panic selling and crashing the price.
What do you think?

It probably is because of those shady ICOs.

Scam or not, most of those ICOs have daily expenses that need to be paid. Where else would they get their money but from ICO proceeds? I'm guessing they are forced to sell to make sure they have some liquidity that is ready to spend. Poor Ethereum though, surely ETH value will rebound soon.

Yes, they could afford keeping most of their funds in ETH until the moment when it started to crumble, and then they probably had to panic sell since they cannot affort to hodl with falling prices without endangering their projects. Of course, by selling they are feeding the collapse.