On August 28th, we forecasted a few things for Wagerr. The first was a retreat in price. At the time, Wagerr had run consecutive days of all time highs ending a period of 6 weeks where ROI was higher with Wagerr than Bitcoin, Ethereum, Litecoin and Ripple. There were a few reasons we could see the price retreating.
First of all, when you have an incentivized ICO, there are always those who are looking to liquidate the extra coin they received. The first 10 rounds received up to 10% extra Wagerr Coins. Also, the golden ticket winners during the ICO received 10,000 free Wagerr. Coming out of the ICO some sell immediately these "extras" to recoup free cash. Others actually get even more aggressive and sell some of their purchased coin if not all of their coin because of the discounted nature of round one pricing (5 cents) compared to round twenty (10 cents). Some of those round one investors got in early with the idea of selling straight out of the ICO. When that happens, the coins' price dives out of the ICO for no other reason than the selling that is taking place. Not all can get out at a price that satisfies them so there are still some hanging around to unload later at a convenient time. Wagerr's value post ICO fell to the 5-6 cent range before it began the 6 week run upwards.
The Mayweather McGregor fight added exposure to Wagerr, and an opportunity for people to buy Wagerr to bet with. It created a lot of Wagerr bankrolls and Wagerr winnings. For those winning participants, they would be interested in withdrawing... which they accomplished as well through selling their coin. Normally, many would have held their coin to wager on the next game, but the blockchain sports betting application has not launched yet. This also prevents bettors that lost from "redepositing" or buying for the next game they want to bet on. With nothing left to take action on they had no choice but to sell.
Investors could forsee this was a peak in the coin's performance as well, because we had successfully witnessed what Wagerr can do. Now post Mayweather we are all waiting for the release of the Official Wagerr Coin, wallet and sports betting application. This idle time lends to perceived uncertainty. Coin investors begin thinking of how they can better move their value into other coins. This leads to sell pressure as well.
Finally, there was Bitcoin which is on another run. We forecasted it running north of $4500 when it had reached $4300 but we didn't know it would break through to $4900 so easily. A lot of investors were eyeing this and it added one more reason to move value from Wagerr to Bitcoin for some people.
That is why we said that over the next 2-4 weeks (though 2 weeks more specifically) you will have the best opportunity to buy Wagerr. We also said that we thought it was a mistake to move out of Wagerr because of the bullish sentiment that already exists. And despite a constant pressure created by all of these sell factors, Wagerr has climbed back repeatedly, maintaining it's position for the most part. It is discounted presently about 25% off it's high, but the market cap is still higher than it was post ICO. The ROI is still about 60% since July 4th, 2017 (down from 125% at it's peak).
There is going to be a point when the release of the application is imminent where the bullish sentiment is going to be even stronger. You're likely to see the kind of wave in pricing that moves the Wagerr Coin price into a new area (perhaps 17 to 27 cents per coin, for example). In the meantime, the volatility of price should be encouraging if you see it as a strong opportunity to buy, and also as an indication of strength as Wagerr continues to rebound against the downward pressures that exist. It's all speculation, until it happens but the dynamics that are working in the present are fairly clear.