On October 24th around 115,000,000 DOT will be unlocked from the previous crowdloans two years ago. That's around $400,000,000 unlocked at the same time, at all time low MC value, in a bear market.
What do you guys really think will happen? In the DOT community chats I've been reading, people are saying "Most of that will go straight into staking", which is possible, and probably wise.
"Most people bought above the current price, no way they will sell at a loss". Uhm sir, where have you been the past two years? Everyone and their grandmas has been selling at a loss for almost 2 years in a row lol
I've read people say the DOT has had poor price action because so many people are worried about what's going to happen after these unlocks, and maybe they are waiting until after the unlock to buy more. Which seems like a fair assumption, logically it makes sense.
I personally think we will see a massive dump, maybe straight to under $3. which will quickly be bought up DOT bulls and the people waiting. Then I think the price will go back to current values of around $3.75 and maybe higher, for the short term anyway.
But what do you guys think? People that aren't really familiar with DOT or biased towards it, with the information of $400,000,000 being unlocked, in a bear market, at ATL prices, what do you think will happen? We can use this subreddits general predictions, and the true outcome (which is in 7 days), to kind of compare between, what people think will happen, what actually happens (opposite of prediction)
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