XEM is not in your Crypto-Portfolio yet because the Herd Instinct has Zombed your Mind
Running after the DeFi trend dazzles trader and investors so that they overlook their chance of the year. While studying the market, many traders make a widespread mistake. They take a close look at the top gainers to see if this will bring them new opportunities to make a decent trade. And while they are right in many cases, they are mistaken about the options. Buy the bottom, sell the top.
This is easy, right? The only thing is that the most significant opportunity will arise, not while you are looking at those assets that already gained a lot of traction, have seen a considerable increase in price, and caught public interest. But why do we always look for the winners? It’s a simple matter of psychology.
We all love winners; they are successful, and that makes them very attractive. Only that your most significant opportunity will arise if an asset has been moving in the opposite direction long enough. Once a bottom has been confirmed, that’s when you would like to make your move and invest.
Making gains on a quick pump seems to be the best opportunity, but making profits from the bottom is also a smart strategy. NEM`s cryptocurrency XEM had it’s low below 0.04 cents, and this was when I hade the guts to stock-up my XEM portfolio. Did you? The truth is that you won’t make that choice because you usually don’t see why such an asset should ever become attractive again.
NEM`s Success is Not a Matter of Coincidence
XEM is a potential winner in many points for me, and it`s the next best thing that will happen in 2020 is XEM for the blockchain Industry. Forget about yield farming, liquidity mining, and the DeFi Buzz. XEM is the native token of the NEM blockchain, and it overcame its troubled past only recently.
NEM has left all the embarrassing moments for the young crypto industry behind and has turned from a forum project into a startup and transformed into an internationally respected company. There are strong indicators that show signs of XEM being the asset that you always hoped to invest in. Probably you sold your XEM positions after the 2018 All-Time High and lost the track on this Cryptocurrency.
My final GO into XEM was their partnership announcement with DAO Maker to re-launch their global community via NEM HUB, a community platform build with DAO Maker`s blockchain agnostic Social Mining Software. NEM was known for a healthy community until internal scandals destroyed the bridges between the NEM team and its community; the rebirth of these was decisive for me.
Still, I`ve been studying their news, forum, and market chart since the Symbol presentation earlier this year. It was a brave and correct decision to transfer this seemingly impossible mission to DAO Maker. As a neutral third party, the DAO Maker team became the better bridge-builder to the global community.
Symbol Opt-In has been announced, NEM is gearing up for the sprint.
At least if you are looking for a potential winner, NEM is still a great pick to diversify your portfolio. The price hasn’t seen much action since its last all-time low while attempting to break out of a multi-year accumulation channel. Once the resistance of 0.15 US-Dollar is finally burst, things will get fast and exciting.
But that’s not even the most important thing. Later this year, XEM is going to launch SYMBOL. And approximately at the end of November, there will be a snapshot that will airdrop 1 XYM for every XEM an address is holding at that time. I could teach you a lot about NEM, SYMBOL, and the whole ecosystem, but I will focus on the analysis of market dynamics.
Network snapshots are huge price drivers. If you look at the history of snapshots throughout the market, you will soon find that almost all assets had seen insane increases in price right before the snapshot was taken. It’s a similar psychological effect, like the one I already explained. In general, Psychology plays a significant role in stocks and crypto markets. We all love things that are for free. Buy one XEM and get one XYM on top.
Also, your “free” XYM might offer the opportunity to make more money in the future or will be your portion on NEM`s 2.0 development. Both assumptions will drive the price to new highs in 2020 since both aspects make buying and holding XEM very attractive.
You don’t believe it? Remember the price rally of HIVE and STEEM Token, even Symbol is not a Hardfork of NEM – every XEM holder will get XYM tokens as we saw it at STEEM and HIVE. Remember, XEM`s all-time high was 2018 at 2.09 US-Dollar driven just by the bubble-hype without any technological backup. If you liked the idea that the snapshot will turn XEM into a winner, you might want to read my upcoming series of articles that closely inspect the technology and ecosystem of NEM and Symbol.
By the way, the Opt-in for Symbol will begin on the 15th of September 2020. I guess we will see XEM above 0.20 US-Dollar soon this month. Will you do the right decision? I did my! You can follow NEM HUB`s Twitter to be on track on everything that happens around NEM and its Community.
Symbol from NEM – Brand Introduction
THE VIEWS AND OPINIONS EXPRESSED BY THE AUTHOR ARE FOR INFORMATIONAL PURPOSES ONLY AND DO NOT CONSTITUTE FINANCIAL, INVESTMENT, LEGAL, OR OTHER ADVICE.