At .10USD it is cheap as chips!
I have been grabbing a bit here and there but cannot understand why nobody is mentioning this…
I am always wary so I have also started buying Bitcoin to hedge my investment.
Is there some “Inside Info” that I am missing?
It is indeed the ‘‘cold winter of crypto’’, yet I see a change of season on the way (well I feel I do).
What is the general consensus here?
Dan
$.10 is cheap as chips indeed, but I don’t understand what do you expect people to do… Everyone is aware of the low prices (on everything, not just NEM) and if people want to buy, they do. I have bought myself, and I know others who have done it too. I think no one says it because it’s pretty obvious that $.10 is a good price. Market sentiment however is still rather reserved, as people don’t really know where the bottom is. Even so, I bought at 19c and 11c.
And you got in after Lon and Jeff Left right?
Dan
No, I got in a long time before that happened. What does it matter? I am still in because I believe in the project and I think it’s yet to prove its worth and what it can do.
Human nature. Noobs only buy at the peak because if the price is unbelievably high it ‘must be good’. Existing holders either have enough or are too gloomy to buy more.
Well I hope you are correct, I am buying a little bit here or there, but I guess it is a matter of having that spare cash.
This is why I probe the forum because I see that money has moved out of the market for the empirical reason that it can make more money elsewhere (these are the traders, bankers and the big players like exchanges). A trader does not need to hold long term, and it is just a guessing game for me to pick the time when the big buyers move back in, if ever.
Cheers
Let’s be honest, it wasn’t the traders and bankers that moved back from crypto to forex… It was the everyday Joe that really wanted to buy the next bitcoin last year, and after December, realized it wasn’t going to make him rich overnight quite like he saw happening before with bitcoin. These people were hyping and FOMO-ing like crazy, and there was literally no logic behind the market movement as a result.
A trader can absolutely hold long term, there are different types of trades one can make, but we’re not talking about traders here, the bulk was everyday people who wanted the million dollars out of a $100 “investment” (several of my friends who were uninterested in crypto until then suddenly became very interested and were asking me to sell them coins… “$100 very easy to turn into $10000”, as I often heard).
So you want to support and sustain the market on the backs of these people? Of course the market dumped on them like crazy, because not everyone was a moron like they were.
Now you have to wait until legislation is favorable for institutional investment to come in, and real adoption sets in so it proves to people that the technology is worth while and here to stay.
Because 0.1USD price does not mean much. I personally would not touch it before 0.01 and even than I would think twice.
Before technology gets implemented in RL , block-chain transaction speeds come close to centralized systems, and regulations kick in, price per unit will be just number.
Well I guess it is easier to say that now than it was last December.
Why so low?
Dan
I think because of overall sentiment towards usefulness of cryptos in RL and with
(speculative) China factored out things may deflate even more.
NEM may take a bit stronger hit, but overall everything is likely to go further down.