I know a lot of people screaming their head off on this one..i am not bothered. In fact I see the drop now as a second chance. My first purchase of this beauty was $8 worth of TEL done on a whim... and it stayed 48 days consolidating during a bull run.. Was frustrated and wanted to sell off, move on because every other Alt was doing great., but on a second thought...I started researching on the fundamentals. By the time I was convinced on how precious this asset was, it was doing almost 1000% after 48 days straight in consolidation.
Look at the Vol that traded it few months back and look at then the Vol trading it now... What does that tell you?
The volume decrease tells me its lost its hype/interest from buyers. The most recent pump at the start of July, coincided with the release of V3.
One of the problems right now (of many) is that TEL doesn't have anything planned to release until September 30th, which is an app update to 3.1.
What you're seeing now is profit taking by investors who made their 1000%+.
Syl-Crypt
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@Crypto-Fury, Where is the Vol decrease?
On TEL not having anything planned to release until September, that is a very weak narration to the reason of the pump and not the problem....far from it. I mean look at the market right now. No assets has successfully decoupled from BTC,including tel.
So hold your horses....It ain't like your shitty coins.
TEL actually doesn't need spotlight craving like every other project because to be able build a system that could connects with telecom and mobile money platforms globally doesn't need noise. They came to fix a problem and they are focusing on that.
Crypto-Fury
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@sylviaokorojik16, where is the volume decrease? Um just look at the volume on your chart: And how is new products or updates a weak narration? Look at it this way, when TEL was in the process of getting their Bill passed in Nebraska, there was a lot of attention & hype on the socials. In the days leading up to V3, there was a lot of chatter about it too. You see this with literally countless other projects. They go up when there's a lot of interest. The whole buy the rumor & sell the news thing. This market is fueled for the most part by speculation. And social activity is one of the biggest influences on a projects growth potential. With nothing on the calendar til september, what is gonna generate interest?
work711work
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what does this mean for the future?
Crypto-Fury
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@work711work, just means for the short term we can expect more of the same. It'll just follow btc for the most part & go back down to that .0075 number if btc continues on this downward trend. Of course nothing is set in stone & a big announcement or btc reversing course would help TEL out a lot. Long term i'm a big believer in the project. Have been bullish on it for a long time & that hasnt changed at all. Just in the short/medium term i feel like i need to be realistic with whats possible.
One of the problems right now (of many) is that TEL doesn't have anything planned to release until September 30th, which is an app update to 3.1.
What you're seeing now is profit taking by investors who made their 1000%+.