You could choose any reason you like or all of them:
1. Bearish market in crypto
2. Lack of enough liquidity market
3. Lack of buyers
4. Not obvious progress of BTX development
5. Despair period in BTX price cycle
All these are effects, not causes.
The real cause:
This shitcoin was distributed for free to Bitcoin holders, and further airdropped to registered Bitcore holders. Increasing selling pressure in the absence of a use-driven demand.
Byteball and Bitcore are siblings - bottomless shitcoins with interesting technology ideas and absolutely no reason for holding.
PoW mining does not make Bitcore any more valuable - the share of mining reward to existing supply is very low, rational miners don't hold coins below their average cost of mining - they dump them.
Yeah, I am salty about the price...
i think the perception of the "absence of a use-driven demand" is the issue. Many people are not aware of the places where bitcore can be spent :
1. Living Room of Satoshi (
https://livingroomofsatoshi.com/ ) . for paying bills in australia.
2. KAMoney (
https://www.kamoney.com.br/ ) . for paying bills in brazil.
3. LuckyGames (
https://luckygames.io/ ) . for gambling online in a form other than investing in crypto
4. Games4Coins (
https://www.games4coins.com/ ) . for playing Steam video games
most importantly, in my opinion, is this bitcointalk post from earlier today which reveals a javascript API that merchants can use to have people pay for items in BTX :
https://bt.irlbtc.com/view/1883902.msg46427355#msg46427355 . the API to use is here :
https://insight.bitcore.cc/apigetting merchants to adopt this API, which would result in increasing the list above of the sites which accept BTX as payment, is the key to changing the perception of the absence of a use-driven demand. This gives people a reason for "spending" BTX, which may or may not give you enough reason for "holding" BTX, depending on how large the above list grows over time.
quoting from
https://bitcore.cc/the-simplest-bitcore-wallet/ :
Commerce would grind to a half if people had to wait an hour after initiating a payment for confirmation before they could receive goods or services. After all, people often complain about having to wait a few seconds for chip based credit cards to process in the line at the grocery store. Because of technical features of Bitcore, it is worth adding Bitcore as a payment option if you run an e-commerce store, bill payment center,
online game center and more. Because BTX provides users with a low cost and rapid solution for digital payments. As well as this rapid solution, TSBW provides simple and rapid access to your wallet. Several reputable companies already include Bitcore payment options, and the number is growing.
