Today was very hard for me to watch... There are a few different dynamics that come into play here...
Not bad for only being a few months old... Its got potential to reach 1000 as its bottom value point.
I've got at least 10 "I told you!" type phrases today.. Instead of dwelling on it, I look at it as an opportunity to reinvest at maybe another angle.
Most new coins have a "generalistic schema" :
- difficulty low => many people being greedy, won't hoard small coins
- it gets a pump & dump followed by emergency evacuations (panic sells!)
- coin is at this time either dead or alive or both (IFC, infinite CAT :p) and it's its community who back its value (so would do gov with fiat and banks)
- if it survives, new persons getting interrest on it as price is cheap and core hoarders still there.
Don't get disturbed if the price crashes near the beginning, elaborate your plan and STICK to it