ICX is or used to be the favorite in this forum and it was hyped incredibly in the beginning of this year. price targets of 20B were called and ppl posting they would buy the heck out of it if it ever gets back to $2…
now it drops even below $1.
so who is still bagholding that crap and who actually made money with it?
if i had to guess, 90% of traders are deep red in it (excluding ico participants), while maybe 5-10% actually made gains in total, which is roundabout the average ratio also in the stocks market. 90% have to lose so that 10% can profit, rule of thumb.
everyone who bought in $2 or higher now faces devestating losses on the invest in the book. averaging down is the #1 rule to avoid in trading. good lesson to learn on the importance of cutting losses in my opinion.
i hope though to all bagholders that u get lucky on ICX and it will ever come back to where u bought it. maybe it will and maybe not…
many traders also have the ability to throw the towel when it is close to its low. i mean somewhere, it will finally turn up again. usually this is when the sentiment is very bearish and everyone posting sell sell sell. can be in this area 0.50-1.00 thats my thinking to take another trade