We always see the price rise for a short period after the listing in the exchanges or after IEO, but soon price be come down,
this may due to two reasons:
The first reason is that the coin or token has no real value.
The second reason is the large sale of those who got his coin free such as airdrop.
Isn't that true?
because as soon as the hype ends, there is nothing stays and most of the holders and investors are aimed to sell out as soon as possible after the hype ends. it is always like this both in icos and ieos
The market situation certainly had a great impact on investors reactions, but I think that a much bigger problem was the lack of education. People who had no idea of fundamental analysis or even investing bought tokens without thinking. When the situation began to be worse, they sold without thinking and this collapsed ICO prices.