NEM. Will the giant wake up?

Academic
By February 16, 2019 20:14
nem-giant

The second year of the global correction of the cryptomarket has begun. During this time we have witnessed many events: the closure of exchanges, thefts, scam projects and so on. Bitcoin made a correction of more than 80 percent and many believe that the bottom has already been passed. In the meantime, investors decide in which projects it is possible to invest their money profitably.

A lot of such conversations are happening around the very best project in its time – NEM. Now the project still has many supporters, but many (if not more) opponents. No wonder, since none of the top cryptocurrencies fell from their maximum values ​​to as low as NEM did. Recall how, at the beginning of January 2018, the price of the coin took the mark of $ 2. And the anniversary of this event NEM “celebrated” at around 6 cents and continued to decline to 3.5 cents.

Why is the best technology offered on the market so depreciated? Did investors become a victim of another scam project or is there another explanation for this? During the time that the cryptocurrency market is in decline, many events connected with NEM have happened, each of which has played a part in the current situation to one degree or another. We will try to briefly go through each event and still decide whether NEM has become a victim of coincidence of circumstances.

Historical high of NEM Price

Yes, we will start from a pleasant event. On January 4, 2018, all NEM investors had a feast, their cryptocurrency took the line of $ 2 and many media trumpeted about it on their websites, tweeters and telegram channels. Telegram chat rooms were torn from the flow of messages about the next stop at around $ 4. Bloggers did reviews one by one. Future saw cloudless, well-fed and rich.

Then expecting, in case of explosive growth, correction began. Holders kept on NEM, but those who sold at the peak, ran to repurchase. It was believed that the bottom of the correction will be about $ 1.2 – $ 1.4. But the correction did not end and the price went down. Volumes meanwhile melted away.

Coincheck theft

On January 27, the project community was shocked by the theft of about half a billion NEM from the Japanese Coincheck cryptocurrency exchange. It is not strange, this news did not cause an instant reaction from investors. The price quite calmly reacted to this event, which gave a certain confidence in the stability of the coin. But on January 29, there was an apogee of Bitcoin plum and the entire market with it. It was here that all the distrust that had arisen towards the project manifested itself, NEM took the first place in terms of the fall rates and did not give this primacy to the whole subsequent year.

Lon Wong and Jeff Macdonald leaved

At the beginning of April, the official report of the NEM Foundation that Lon Wong and Jeff MacDonald were leaving their posts was published. This caused a lot of questions who are able to further lead the fund. Contrary to expectations, the price did not respond to this news. Christophe Van de Reck was appointed acting president of the foundation.

Election of the President of the Fund. Alexandra Tinsman

In December 2018, Alexandra Tinsman was elected president of the NEM fund, who proposed the idea of ​​restructuring the fund’s expenses in order to maximize budget savings. The new management of the fund will be extremely focused on the product and the monetization of the project. You can find out more about the fund’s offer here.

Catapult

Everyone has become accustomed that the word “Catapult” is almost a synonym for NEM. She seems to be there, but she is still waiting. The catapult was supposed to be a catalyst for the development of NEM, to bring the project to a new level where many opportunities open up, but in fact it became a marketing tool in the hands of the NEM management. They heard about it and waited for it back in 2017 when the market turned green not by days, but by the hour, but there was no real release date.

What is the reason for the sharp drop in NEM?

Price reduction NEM is a pattern. The whole cryptocurrency market is going through hard times. The moment with the NEM theft on Coincheck can only be viewed as a catalyst for the fall in prices. Then you should take into account a large share of investor frustration in Catapult. Much has been said about it, and many who have invested it through the expected release of Catapult. Also a lot of hype caused Lon Wong’s departure from NEM to the ProximaX project. Although this project is a mosaic of NEM, but still this event has left an unpleasant aftertaste and many questions.

If you look at the situation from the other side, then you can say that there was not much point in launching the Catapult. In 2017, the market was too hot. All the Altcoins, along with Bitcoin, showed a crazy growth and the question of when everything would fall down was only a matter of time. Throughout 2018, the crypto market was in the downtrend and the cryptocurrency was no longer popular. It is inappropriate to release an important update when it cannot be properly assessed.

What awaits NEM in 2019?

At present, NEM looks like an extremely attractive asset in terms of price. Imagine if you buy NEM at 4 cents and sell even two times lower than the maximum price, then the profit will be 2400%. But the point is whether you can still trust this project. Perhaps the coin dies smoothly and will eventually be removed from the listings of popular exchanges. According to the author, such an outcome is unlikely.

NEM is experiencing the same problems as other projects, the difference is only in the amount of attention. At one time, the project made a lot of noise on the crypto market and many called it the best, respectively, and investors’ expectations, triggered by the news background, could be extremely high.

Despite such an impressive price drop, NEM still did not fall under the delisting on the popular cryptocurrency exchanges. 2019 is likely to be the year of the change in the global trend of Bitcoin, which promises changes for the entire market. In this case, the coin has good prospects to show explosive growth. It is expected that in 2019, users will still wait for the release of Catapult, which may pull a number of new profitable cooperation with companies. In this case, all the nerves and expectations of investors will be justified and will be repaid with interest.

Based on the foregoing, we can say that NEM is a very promising asset for investment. At least, the symbolic amount of this cryptocurrency should be in the portfolio of each investor.

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Academic
By February 16, 2019 20:14