Genesis Vision (GVT) just experienced “buy the rumor, sell the news” adage. Where does price go from here?

Markets are typically driven by emotion and because of this when a rumour with expected positive sentiment comes out, it generally means the price is going to increase leading up to the actual news release.

Probability shows that more often than not this pump spikes when news is released and then a subsequent correction occurs.

And don’t think this is just a cryptomarket phenomenon, it’s a market phenomenon. For example, Apple’s share price increased leading up to the PC for it’s new Iphone. After the PC the stock dipped likely because traders were realizing profit at the top of that particular pump. As the date of the big news come near, first buyers slowly start selling their early buys and taking their profits. Once the rest of the market takes notice of this, they herd in to do the same which causes a price slip like this one.

The other possible reason for this is the nature of the GVT platform: managers sell their GVT to buy the crypto they want to hold in their funds and programs.

There is also a concern/uncertainty over the GVN announcement – a new project with its own token launched by the Genesis Vision team.

Where does price go from here?

Price action in the upcoming period will depend mostly on adoption of the newly launched platform. Put simply, if GV managers trade successfully and turn good profits and/or if the GV team increase their marketing efforts as they promised, we’ll see more users and higher demand for the token which will translate into higher prices.

AS for the other side of the coin, this analysis explains it best:

“How low the price might go depends on the assumptions you make about when or if the above ‘good news’ scenarios play out. If managers do well and promotion ramps up soon, we might bounce off $8 or so and go back up. If there is an extended period of uncertainty or no news, then I could see a return to $5, since there were enough buyers in the ~$4 range that profit could still be taken all the way down. Mostly, though, no one knows for sure.”