This is a big mystery for me. I am a huge fan of Bancor, which I personally consider one of the best projects in the crypto space. However, I can't understand for which reason the price of the token has been tanking ever since. The BNT-ETH graph is devastating over these two years, and so is the BNT-USD graph.
Who has been massively selling BNT for these years? Anyone who has bought BNT at the ICO - like myself - has paid it expensively and why would anyone now still be selling at such a massive loss ? So who is selling?
According to the whitepaper, the more projects would adopt Bancor as a reserve token, the more its price should rise. However, adoption is increasing and price goes on tanking.
Could someone please clear out this mystery in an intelligent way?
The crowd is stupid. Be patient.
If you read above you can see the news that bancor will exclude US in there network, this may cause a short time dump and people from the US may unload there token just to avoid being lack out from the network.