Crypto Update: NEM Is Incredibly Undervalued!
#NEM has been in the #news lately, and not for great reasons. We've all heard of the #cryptocurrency hack at a Japanese exchange, and some of the security measures that have taken place to avoid further damage.
Thus, NEM hasn't recovered like the other #crypto coins -- if we're being honest, it's just mired in a holding pattern, convincing many investors to choose other #altcoin assets.
However, don't ignore NEM! Because of these troubles, NEM is incredibly undervalued.
Here's my price sentiment analysis:
Some key empirical takeaways:
- This year, we have 25 down days, and 23 up days
- Two sessions registered a daily percentage move of 0%
- Of double-digit moves (+/- 10%), 9 are bearish, 6 are bullish
Clearly, the NEM crypto is slanted seriously towards red ink. However, I think this signals a tremendous opportunity to load up while everyone else is focusing on bitcoin and non-NEM altcoin assets!
I think ICON is another undervalued Asian coin. With coins like NEM, NEO, ICX that are associated with a given country (Japan, China, Korea) there has to come this tipping point where the rest of the world decides to invest in them too.
With China and Korea, there has been a lot of genuine FUD coming out of actions and statements by their governments.
Global acceptance came for NEM earliest because the Japanese govt. supports crypto so consistently and openly that the broader world felt it the safest Asian investment. Then they were robbed from the exchange! So long "safest" concept.
But in time the fundamentals will be more on people's minds, so the coin will regain its acceptance in people's minds. Even with all the uncertainty still with China, look at how well NEO is going. And ICX seems to be trying to rally these last few days too. It hasn't even hit its stride yet.
These are great fundamental points that you make, I honestly don't have anything to add at the moment, other than to say I'd like to take a look at ICX from a technical perspective. Thanks for sharing! :)
Interesting, I haven't seen a sentiment analysis before. I wonder how do you go about plotting them and what does the vertical axis mean and imply
I'll keep an eye on NEM for sure. Thanks a lot