Altcoins took a beating recently, and it shows in the current ROI figures for Wagerr and it's peers. Edgeless in particular has been on a terrible nosedive over the last 40 days. It fell from first page to second at CoinMarketCap.com and after peaking at $1.42 per coin, it is in the 40 cent range now. All other coins in this group are continuing their downward trends over the life of Wagerr.
It is crystal clear that Wagerr was gaining traction right prior to the market downturn for altcoins, which is unfortunate depending on who you ask. It was showing a lot of rally potential and likely would have continued making up position it lost after the September 30th development delay. Still Wagerr remains in first place of this group for return on investment.
In Wagerr's case though, the downturn is not only altcoin market related. As it happened, Saturday, Sunday and Monday are heavy betting days with the NFL and College Football. There is every indication that part of that slide for Wagerr was actually related to betting that is taking place. While Wagerr Blockchain betting is not online yet, Wagerr owners watching the altcoin slaughter had every opportunity to withdraw a portion of their Wagerr, by selling it for Bitcoin then withdrawing the Bitcoin to an offshore sportsbook. It's a good way to capture present value if you plan to bet anyway, and then expand your position with wins and lower prices when you return.
Of course that only works if you win, and there is a risk that when you return there may be competition for the Wagerr you intend to rebuy plus the new Wagerr you won while betting essentially. With prices for Wagerr remaining so affordable, that risk is not too overwhelming though. It can be a way to really jump up your position quickly if you have insight on a particular game.
Also betting right now off project is not as initially advantageous as blockchain betting is for Wagerr's price. Blockchain betting starts with a purchase of Wagerr coins in order to bet, which raises price. Off platform betting right now for investors pre-development, starts with a sell of Wagerr to convert it to Bitcoin, which lowers price.
But Wagerr can benefit when it's investors win elsewhere, and bring that increased Bitcoin back into the market cap to expand their Wagerr position. Those eventual buys from winning plays will benefit Wagerr greatly.
Look for Wagerr's price to rally a bit as bettors regain their positions with buys over the next few days, if they did bet and win successfully on the Eagles for example over the weekend. Some will likely be wagering the World Series games too.
It's best as an investor to keep our priority in focus though. Our number one bet is on the Wagerr project itself and that is more important than any single game. Wagerr's returns on investment can be exponential!