Why NEM is down? easy to explain

Market Discussion
#1

Hacker is dumping 500 million xem on the market. Seems kind of straight forward.
All the stolen xem have gone missing.

Until the stolen Xem is eaten up by the market there won’t be an uptick. Exchange is makings payments at $0.80 which would allow investors to buy 2x -3x amount of NEM at these prices than what they had.

TRON is valued more at this time hahaha if that doesn’t tell you there is a mass dump in progress I don’t know what does.

My Prediction Nem $2 by end of 2018, $5 by end of 2019.

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#2

Everything is down, I mean XRP last time I looked was about .65US.
It is an interesting point about the hijacked xem being sold.
I watched Nem with Tony and he explained it a bit though all I could get out of it was that 10s of millions of stolen nem got sold.
And then checked the market prices everything was up 7- 8% and xem was down 12%.

Now was it the dumping of the stolen xem that dropped the price or was it the news of the dumping that dropped the price?
Cheers

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#3

Yeah, sometimes the news of the event has more impact than the event it self, hence the expectations augmented Phillips curve. Interest rates going up has far less impact than the announcement that they will. Once economist realized this they spend a lot more time crafting communication than the policy move.

5%-10% OF THE NEM market cap being sold off will TANK the price temporarily at least.
NEM is Liquid, much more so than many others but even BTC tanks %5-10% if someone dump $30+ million on an exchange. Remember the ETH coinbase flash crash last year? Someone fat fingered a $30 mill market order to sell and it crashed everything.

I am not saying hacker is dumping all at once here but, they are probably selling off and moving around. My guess is into BTC then into Monero for the disappearing act. I am thinking of doing a XMR swing trade on this hypothesis. Thoughts?

IMO, this is depressing NEM more than it should and it is on sale. If you used all the other crypto you would know the power of NEM and why it will eventually take over.

I am a NEMBER 100% and all this FUD will blow over sooner or later. Amazing projects got approved lately. I can’t wait to see the fruits of all this development.

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#4

SEA taking a stock market hit lately, from trade news.
This is just the market gathering up their interests and in time they cannot ignore SEA.
It is a massive hub.
Thanks for your informative reply.
Cheers

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