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What Is NEM?NEM is a cryptocurrency and crypto platform that was launched in March of 2015 in Malaysia. It was originally intended that it would be a fork of the other cryptocurrency NXT. However, after thinking hard about it, the team decided to create their own codebase instead. This means NEM is completely unique.
Source: mediumNEM stands for the New Economy Movement. Like Ethereum, Waves, and NEO, NEM is both a cryptocurrency and a platform for building applications on top of. It is built using Java programming language and is currently also being developed in the C++ language. This will be released in an upgrade at some point in 2018 known as “Catapult”.
Has NEM Been a Good Investment So Far?So, that’s what NEM is all about. Now, I can get on to the focus of this article – is NEM a good investment? NEM was a sleeping giant for a long time, trading below 1c from the day it was launched in 2015, right up until March 2017. For most of this period, a single NEM coin cost less than a fifth of a cent. During the spring of 2017, many crypto projects took off and experienced huge growth in their market caps, NEM did the same. During the epic bull run of all cryptos at the end of 2017 and beginning of 2018, NEM even got above the $2 mark. If you managed to buy it in its sleeping giant period and sell right at the top, of course, NEM was an incredible investment. Suppose I was lucky enough to buy $100 worth of NEM coin back in January of 2016. My investment would have bought me around 588,235 NEM coins. If I was the luckiest person ever and called the exact top of NEM’s rise, I would have sold when each coin was worth $2.04. I would have cashed out a grand total of around $1,200,000. Not bad for a $100 investment, eh? Of course, this could have worked the other way too. If I used $1,200,000 to invest in NEM right at the high point ($2.04). Well, the following months up to this point would have been awful watching my money decrease. If I sold all my NEO coins today at 31c, I would only be able to cash out around $182,352. That said, in a very basic sense, you can argue that NEM has been a good investment. Even though it’s down from its all-time high point, it is hugely up from the price that it launched at.
NEM Price Prediction 2019Wallet Investor”. This is a classic example of a website that gives no reasoning to its content whatsoever, so it’s hard to know how they came up with this estimate. Wallet Investor gives a “one-year forecast” from exactly the day that the page is visited. It doesn’t bother to explain what NEM is, or to use its timeline for development to justify its prices. It does have a lot of graphs though, but they aren’t explained at all. The “one-year forecast” it does provide is that NEM is likely to crash towards the end of 2019.
Source: walletinvestorThe next source I used to find NEM price coin predictions is called “Trading Beasts”. Again, with absolutely no reasoning behind it, the numbers given for the price of a NEM coin at the end of 2019 are a low of $.035, a high of $0.51, and an average of $0.41. Quite amazing really, considering that the low could easily be $0.00 and there is pretty much no limit to the amount of upside potential. Finally, in our short-term NEM price predictions, we can look at a website called “Long Forecast”. Again, with absolutely zero reasoning, a number is picked from somewhere on this page. However, this time it’s down on today’s price at 3c. Perhaps this writer knows something the others don’t but isn’t willing to share it? Or maybe they just shut their eyes and picked any two numbers at random. I guess we’ll never know!
NEM Price Predictions Long-TermNow, let’s move on to long-term price predictions for NEM. Like the end of 2019 predictions, these seem to be based on very little. However, a couple has attempted some form of justification. I still wouldn’t refer to these commentators as experts, however. It has proven quite difficult to find predictions from reputable sources. First, I’ll look at “Wallet Investor” again. Like their 2019 call, their NEM price prediction for in five years’ time is a bullish $1.247. Also, like their 2019 prediction, it seems to be based on literally nothing. Next, I’ll revisit our friends at “Trading Beasts”. This time, their NEM price prediction is between 87c and $1.28 – an average of $1.02. I think you can probably guess the level of analysis that they posted with these figures. That’s right! Absolutely none! Finally, before looking at some NEM price prediction with slightly more substance, we can look at “Long Forecast” again. This time, they’ve turned bullish! Not quite as optimistic as the other two but they believe that the price of a single NEM coin will be between 48c and 60c by May 2020.
Blockchain.wtf ForecastThe next NEM coin price prediction website I’ll show you actually has some reasoning with it. It might not be the greatest analysis ever but it comes from a page called “Blockchain.wtf”. This author has clearly tried to find an “expert” on the matter. He’s decided to quote a guy called Adam Web who writes for the website Smartereum. This writer has clearly written a lot of news about cryptocurrency and this has given him some sort of authority to provide a NEM coin price prediction. Adam Web believes that in five years a single NEM will be worth “around $1.65”. Thanks, Adam!
Note: I too have written a lot of news on cryptocurrency websites but am in no way arrogant enough to put a price tag on a wildly speculative asset that has considerable regulatory challenges to face as well as lots of competitors.Smartereum also supports Web’s NEM price prediction of $1.65.
Palwash SaaimNow, the closest thing to an expert on the matter I could find is Palwasha Saaim. She posted a NEM coin price prediction to a website called “Profit Confidential”. I did some research and found out that Saaim actually has some credentials in the world of finance. According to her LinkedIn account, Saaim is an Investments Analyst who also writes for the Lombardi Media Corporation. Sounds promising so far, right? Saaim has written quite a decent sized article about NEM price prediction. She talks about the hack of a crypto exchange in which over 500 million NEM were stolen as having downwards effect on the price. Saaim also mentions the Japanese government’s response to the hack and the finding of some of the lost coins as a potential positive that could prompt upwards price movement. She talks about the competition that NEM faces from the likes of Ethereum too. Finally, she makes a cautious call that if NEM can get listed on the Binance exchange platform and maybe launch their own exchange as planned, the price may return to the happy side of $1. Finally, something of a measured opinion! No McAfee NEM Price Prediction?! Strangely enough, missing from the NEM price prediction list was the famous John McAfee. John usually has something to say about many projects in the cryptocurrency space.
Is NEM a Good Investment?After all the bad mouthing of the analysis that goes on in cryptocurrency I’ve done, you’re probably expecting my answer to the question “is NEM a good investment” to be a strong “no”. However, that isn’t the case. Like all cryptocurrency investments, the first thing you must understand is that NEM is a very high risk, very high reward investment. That means there is a chance you could retire early by putting a few hundred dollars into NEM. However, this isn’t a big chance. Before I talk about what gives NEM the almost limitless upside potential that it does have, there’s another warning coming. If you want to invest in any cryptocurrency, you must only invest money that will have no impact on the quality of your life if it vanishes. You must invest with acceptance that your money could disappear tomorrow. All that said, NEM has a lot of positives going for it. If it achieves what it sets out to achieve, it could easily outperform their rival crypto asset Ethereum. If it achieved the same market cap as Ethereum (which also hasn’t achieved what it set out to achieve yet), each NEM will be worth around $7.55. This would make it an exceptionally good investment. If NEM manages to disrupt the number of industries I listed earlier, the market cap could potentially be many trillions of dollars. This would make each NEM coin much more valuable than it is today, and the entire market cap would be many times that of the entire cryptocurrency space today.
ConclusionSo, that’s it. That’s my guide to NEM price predictions. Sorry if it wasn’t exactly what you were expecting. Sure, I could have pulled a lot of numbers out of thin air and fed them to you but what’s the point in that? You don’t learn anything from that and will leave this article ready to put your life savings into an asset that could ruin you. I don’t want that. As usual with our cryptocurrency price prediction articles, we’re talking about very high risk, very high reward investments. For that reason, it’s better to be honest with you.
- Regulation – could NEM be classed as an illegal security and its price drop close to zero?
- Technological – can the team deliver what they set out to without a better technology being launched in the meantime?
- Competition – will another crypto platform take the market that NEM is trying for?