After a nice, prolonged price surge that saw GVT going from $4.44 on August 17th to the more than 3x times that on October 24th – $15.94, Genesis Vision started stumbling down again.
The aforementioned mini bull-run was fueled by the anticipation of their platform launch, that went live in two stages on October 31st and November 2nd. GVT has released both of their modules, for investors and managers and as of now, they support crypto market trading with forex and other markets in the pipeline.
GVT is a great improvement to the current opaque model of investing through brokerage houses that are everything but ethical and transparent about their inner-workings and handling of clients’ money. A smart contract on Ethereum blockchain that will be the engine of GVT platform will remove all of these traditional drawbacks and run an utterly trustless machine that puts complete control into the hands of money owners.
The investors who posses actual knowledge and trading skills will benefit hugely from the GVT features as the platform will make sure to provide transparency and necessary tools for money owners to eliminate and cut out the scammers and “fog sellers” and give their investing money to the actual professionals.
However, all this aside, part of community that is mostly interested in the price is not too happy. The price has been spiraling down for almost 2 weeks now and a firm bottom is yet to be seen.
What causes this price slump?
There is a famous investing adage: “buy the rumor, sell the news.” If you observe crypto markets for a certain amount of time, this advice has been proven true more times than not.