Well I am very sad to say that the sharp drop in coin price is likely caused by the DNM Admins who scammed us dumping our coins onto the Market.....
This causes more coins to be in circulation, and consequently given the demand for coins remains the same will drop the coin price back down to it's Equilibrium price of ~$270.
Get those options in...
Is it just me or is there a Positive correlation between the price per coin and Exit scamming. Seems like the same thing happened with EVO and BlackBank. They start scamming the price jumps up (they hold the coins resulting in less coins in circulation) and dump then causing it to drop.
I think I've seen this happen enough times already to say that there is a correlation between the two, and to confirm that we have all just been FUCKED. YUP even with Abraxas. If you notice the market's wallet on 11/04 (page ~44) drops down to ~0. From then on-ward they are just using incoming deposits to fill withdrawals. The market's wallet hits around ~0 coins like 3 times. They're gone...
There might be a correlation, but you haven't proven causation yet. The number of coins on the markets is a fraction of the total- they might exit scam when coins are high to maximize profit, but the number of coins held by the markets is statistically insignificant.
China is dumping, after the US auctioned off a ton of coins below the market value. Up and down it goes, over and over... the markets don't move the price.
I'm not an economist though, just an amateur one.