I really hate saying this because I have been following Clover since it released, and have made some money trading it, but here is why Clover continues to dip despite having such bullish news everyday.
No one has pointed this out so I guess I have to..
They keep dumping new circulating coins into the market like its Christmas. I believe they slowly have been dumping coins onto the market and updating the "Circulating Supply" far after they have slowly been releasing them, opposed to massive dumps of coins. This would explain why the price keeps dropping and moving sideways (That, and the market has been dumping overall.) Keep in mind Clover has seemingly been dumping much MUCH harder then most small cap coins, if you only take the previous 2.00 its down 75%. I have proof if you watch this persons video around the 2:50 mark you can see Clover had a 128 million dollar market cap. www.youtube.com/watch?v=AgHHbMt7...
Keep in mind this was just IN DECEMBER, a month ago. Now the current circulating supply is at 261 MILLION. This is over double what it was a month ago.. But why didn't the price cut in half?? Well, thats because they have been slowly, with quantitive easing, been releasing new coins onto the market.. then updating the circulating supply months after. The price is actually down more then half (Coinbase says its down over 98% but thats typical pump and dump action for a new coins so I dont include that.) It first launched on Coinbase the Circulating Supply was around 112 million. Keep in mind a total of 1 billion Clover Coins can exist.. And to my knowledge we don't have a set release window for when they will distribute all of them, aside from coins that are part of an auction (but those coins are locked up and not part of the circulating supply).
I feel like people are going to get upset with me pointing this out, but I wouldnt invest in Clover until we have more transparency on when or how they decide to randomly distribute coins onto the market. If they keep slowly distributing coins like this then the only way it can go up is if more people buy them then the rate they release new circulating coins.
Feel free to let me know your opinions or if you have any other information. If you agree please leave a comment and like the post so that pushes this up so everyone can see.. I dont normally ask for this but I feel people REALLY need to see this before they consider buying Clover at this point. I've been looking into this coin for some time and I just wanted to share my findings.
No one has pointed this out so I guess I have to..
They keep dumping new circulating coins into the market like its Christmas. I believe they slowly have been dumping coins onto the market and updating the "Circulating Supply" far after they have slowly been releasing them, opposed to massive dumps of coins. This would explain why the price keeps dropping and moving sideways (That, and the market has been dumping overall.) Keep in mind Clover has seemingly been dumping much MUCH harder then most small cap coins, if you only take the previous 2.00 its down 75%. I have proof if you watch this persons video around the 2:50 mark you can see Clover had a 128 million dollar market cap. www.youtube.com/watch?v=AgHHbMt7...
Keep in mind this was just IN DECEMBER, a month ago. Now the current circulating supply is at 261 MILLION. This is over double what it was a month ago.. But why didn't the price cut in half?? Well, thats because they have been slowly, with quantitive easing, been releasing new coins onto the market.. then updating the circulating supply months after. The price is actually down more then half (Coinbase says its down over 98% but thats typical pump and dump action for a new coins so I dont include that.) It first launched on Coinbase the Circulating Supply was around 112 million. Keep in mind a total of 1 billion Clover Coins can exist.. And to my knowledge we don't have a set release window for when they will distribute all of them, aside from coins that are part of an auction (but those coins are locked up and not part of the circulating supply).
I feel like people are going to get upset with me pointing this out, but I wouldnt invest in Clover until we have more transparency on when or how they decide to randomly distribute coins onto the market. If they keep slowly distributing coins like this then the only way it can go up is if more people buy them then the rate they release new circulating coins.
Feel free to let me know your opinions or if you have any other information. If you agree please leave a comment and like the post so that pushes this up so everyone can see.. I dont normally ask for this but I feel people REALLY need to see this before they consider buying Clover at this point. I've been looking into this coin for some time and I just wanted to share my findings.