NEM (XEM) Price Analysis: Will the April 1st Boom be Able to Change NEM’s Course?

NEM (XEM) is a leading cryptocurrency, and the coin is mined through its POI (Proof-of-Importance) algorithm. It was launched in 2015 backed by a dual-layer blockchain that is written in Java. The other major features of this coin include mini-signature account systems and encrypted messaging. The NEM stands for New Economy Movement, and the platform has two stages for making transactions, they are the NEM Infrastructure Server (NIS) and a client for interacting with the nodes.

Current Statistics-

• It is 21^st largest cryptocurrency of the market as of now with respect to market cap.
• The ROI (Return on Investment) stands at more than 9000 %.
• The coins in current circulation stand at 8,999,999,999 XEM.
• The market cap as on 23^rd April at 02:04 UTC stands at 576,405,694 USD.
• The value of each coin in terms of USD and BTC stands at 0.064045 USD and 0.00001191 BTC respectively.
• The current 24 h volume at the same UTC is 17,524,759 USD.

Comparison-

NEM (XEM) started the year with a very high note right after the crypto winter at 0.064 USD. But the momentum was lost within 10 days. It started to fall to the lower level. On February 7^th, the coin was being traded at 0.034 USD, which was the lowest point of the year. However, NEM (XEM) gained little momentum after 1^st April market boom. Over 3 days, it gained around 25 % of its value. Again the momentum was lost due to price corrections in the whole market. The market cap on 23^rd March was 447,061,134 USD, and the value of each coin was 0.049673 USD and 0.00001237 BTC. The current market cap is 28.93 % more than the market cap of March 23^rd. And the value of the coin has gained 29 % in the last 30 days.

Prediction-

As mentioned earlier, the price is now hovering around 0.064 USD and with many variations in pricing; we predict the coin to dwindle further. In the coming two weeks, it may reach the lowest point. But after that, it will gain momentum and grow until it faces resistance. The resistance should be at 0.072 USD. According to NEM coin forecast, the long term outlook is bullish. The price should be at 0.3 USD to 0.5 USD by the end of 2019. 2020 outlook also is bullish for this coin.

Conclusion-

We advise the short term investors to stay away from the coin as variations are huge. Medium term investors and long term investors will be paid a huge dividend if they hold their investments without panicking throughout the year leading to 2020.