The summary of this NEM price prediction tells us that the opinion of respected crypto experts and technical-based analysis combined predict that NEM has the potential to rise by up to 292% between now and the year 2025. To avoid missing out on potential upcoming price surges in the cryptocurrency market, check out our easy-to-follow article on how to buy NEM.
“Fiat dominated banks refusing to work with cryptocurrency are like bookstores refusing to work with the internet. Only time will tell.”― Olawale Daniel
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Whether it’s Bitcoin or Ethereum, even the most powerful cryptocurrencies have their flaws. This can often result in a fork that sees an attempt to better a digital asset and fix ongoing issues. This happened to the cryptocurrency known as NXT, which resulted in the formation of NEM.
A fork often divides crypto communities. But in the first four months of 2020 alone, NEM surged to an all-time high that saw investors make returns of over 1000%. This lead to increased demand for an accurate NEM price prediction for the coming five years.
Naturally, this has thrown this innovative digital asset into the spotlight. But the price surge left many wondering if they had missed the boat on NEM and whether investing now was a good idea. I was one of those people until I began to use a range of factors to research the future price such as the following:
- Price history
- The latest legislation
- Prediction strategies
- Expert analysis
By analyzing all of these factors, I was able to find out that there’s never a bad time to invest in NEM, and I’m not alone. For example, statistics from the leading trading platform of eToro tell us that sales have skyrocketed in the past few months.
But what does the future hold for investors who get on board early enough? Will it rise once again? Our NEM price prediction aims to answer all. But first, let’s start with just what it is and how it works.
What is NEM?
NEM stands for New Economy Movement and it can trace its roots back to early 2015 when it was formed from a fork with another blockchain-based cryptocurrency and payment network platform called NXT. Aiming for a faster alternative to NXT that was also more scalable thanks to important technical upgrades, the ownership records of NEM is led by a non-profit organization called NEM.io Foundation which is based in Singapore.
With a selling point of being different than most other altcoins on a blockchain, NEM aims to develop a smarter and more technologically advanced blockchain with actual business applications. As a result, NEM is often referred to as a smart asset blockchain with more than basic functionality. Its main purpose is as a technology platform aiming to be an efficient way to manage assets and data easily and at a low cost via supply chains.
NEM has a circulating supply of 46,363,275,151 and a market cap of … as a result of this circulating supply.
In addition, NEM also has its own native cryptocurrency. Known as XEM, it has grown in value significantly in recent months and saw increased trading volume. Out of thousands of other cryptocurrencies, it currently has the twelfth-highest market cap among cryptocurrencies.
Do you still have questions about NEM? Rest assured, before we get into the price prediction, next we’ll cover some frequently asked questions about NEM to give you a better understanding of the original digital asset and its price potential.
What’s the difference between NEM and NXT?
NEM is a fork of the NXT network and claims to have improved speeds, usability, and scalability.
Is NEM a good investment?
The positive historical data and the NEM price prediction 2021 shows that NEM has the potential to be a good investment if traded right and through a reliable broker on the cryptocurrency market.
Is NEM safe?
NEM uses Ed25519 public-key signature system and the SHA3 hash algorithm to secure its network. As a result, it is considered a very safe network.
How does NEM gain value?
Like most digital assets on the cryptocurrency market, the value of NEM is largely driven by speculation in its current state and market capitalization. As more people discover the wide range of its uses, its value grows. Due to its numerous advantages, support for NEM is only expected to grow as cryptocurrencies become a more widely accepted alternative to fiat currencies. When it does, the value will likely grow in sync.
Can NEM reach $10?
Due to its attractive features, NEM has secured many loyal users in its short history. If it continues to do so, it would not be impossible for it to reach $10 one day. But as the NEM price today is around $58, this would be a long-term thing and it would be an expected maximum price.
Where do people buy, trade, and sell NEM?
You can buy, sell, and trade NEM from any reputable crypto trading platform. If you are a new investor, then we suggest using eToro. It’s safe, regulated, and beginner-friendly. The eToro interface is very simple to use, and it has an array of trading tools to allow you to trade safely.
Pros and cons of NEM
Like any cryptocurrency, NEM has its fair share of incredible pros and limiting cons. We always aim for transparency in our articles. So in this section, we’re going to cover some of the most important pros and cons of NEM.
|✔️ Better transaction speeds thanks to two-tier architecture.||❌ Not as widely used and accepted as digital assets like Bitcoin and Ethereum.|
|✔️ Avoids unnecessary codes and inefficiencies by being built on the Test-Driven Development method.|
|✔️ Faster transaction times than Bitcoin.|
NEM Price History
NEM first hit the crypto market in April of 2015. At the start, NEM traded at a price of $0.0002. Historical data tells us that NEM maintained stability aside from some slight variations due to trading volume. Whilst stability is often a positive aspect, this symbolized that NEM had failed to attract significant attention from crypto investors. It ended 2015 at a low of $0.0001.
For the first few months of 2016, NEM was in a bearish state and saw little price variation. In the second half of the year, the price rose to $0.010 before dropping again and ending 2016 at $0.003.
It was in 2017 that the price history of NEM gets interesting. By the end of May 2017, the price had soared from $0.003 to $0.23. This price wasn’t sustainable it subsequently entered a downward trend and dropped to $0.11 by July. But by September, the price had soared to another ATH of $0.29 and maintained that price for a couple of months. By the end of 2017, NEM had reached another incredible all-time high and was sitting at $0.94.
In 2018, the bullish trend of NEM took the digital asset to all new highs. It dramatically surged to $2.09 in early January before dramatically plunging to $0.21 by March as various south Asian countries announced their plans to tighten the crypto regulations. A downtrend began and NEM reached a low of $0.06 by December to round off the year 2018.
In the 2019 bear market, NEM performed poorly like many cryptocurrencies and hovered between $0.04 and $0.09 throughout the year and further dropped to $0.03 by December to end 2019.
Starting 2020 at $0.03, NEM saw a slow recovery at the start of 2020 as it climbed to $0.07 by February before dropping due to the effects of the coronavirus pandemic. By September, NEM climbed to $0.15 before climbing to $0.28 in December and closed the year 2020 with a value of $0.21.
Expert analysis of the NEM price potential
One of the best tools we can use to try and determine the potential future price of NEM is to analyze the opinions of various crypto experts. Let’s delve into four estimated growth outlooks for various industry experts and analysts.
FX Leaders is overwhelmingly bullish on the NEM price prediction. Based on NEM continuing to build partnerships with influential organizations and persisting with being a unique model that retains a solid support base, they believe NEM has the potential to reach around $1 per token by the year 2025.
WalletInvestor uses an algorithm-based forecast in an attempt to create their NEM price forecast. They are also bullish but not as much as FX Leaders. Over the long term, WalletInvestor predicts that the forecasted NEM price could reach somewhere around $0.93 per token by the end of 2025.
DigitalCoinPrice is fairly bullish on its NEM price forecast and expects the price to gradually increase over the long term. DigitalCoinPrice predicts the NEM price to rise to $0.36 by the end of 2021, they believe the NEM price will be $0.34 by the end of 2023, and finally reach a figure of $0.48 by 2025 in its NEM price forecast.
Rather bearish expert analysis on NEM, albeit in their long-term NEM price predictions, is LongForecast. They predict the price of NEM in 2021 to potentially drop to $0.10 by the end of the year. But in the following three years, they expect the price to rise to $0.16 by the end of 2022 before gradually losing value by the year 2025.
So from over $0.30 in the short term to up to $1 in the long term, the overall expert analysis on the future price of NEM is overwhelmingly bullish with some potentially lucrative returns in store for investors. But what does the technical analysis tell us about the price potential of this innovative digital asset?
Technical analysis of the NEM price potential
Now we move onto technical analysis to try and predict the future price of NEM. This section will utilize powerful tools like the Japanese candlestick, chart patterns, and trading indicators. As well as giving traders the upper hand in day trading, they can enable us to discover long-term price predictions based on pure technicals when we assess longer time frames.
NEM Price Prediction 2021 – 2022
Since the beginning of 2021, the price of NEM has had a rocky start after it dropped by -27% from $0.2193 to $0.1608. However, It’s predicted that the NEM price will rise by 31% in the second half of 2021 and it’s then expected to close the year at $0.21.
NEM Price Prediction 2022 – 2023
After starting the year at $0.21, it’s predicted that the price of NEM will rise to $0.23 per coin in the first half of 2022, it’s then expected to gain $0.07 and finish the year at $0.30, which is a +87% gain on the current price.
NEM Price Prediction 2023 – 2024
After starting 2023 at $0.30, NEM is expected to rise slightly to a figure of $0.36 midway through the year before going on the rise again and ending the year at $0.42 at an overall annual increase of 161% from the current price.
NEM Price Prediction 2024 – 2025
After starting 2024 at $0.42, NEM is expected to rise to $0.48 halfway through the year. The second half of 2024 is expected to see the price of NEM end the year at an even higher price than the first half of 2024 at $0.54. That’s an overall annual increase of 292% on the current price.
Conclusion to the NEM price forecast
In summary of this NEM price forecast, NEM is a great digital asset for those looking for an innovative blockchain platform with increasingly impressive scalability and speed abilities. In the past, NEM has proved its potential to see incredible gains for patient investors. The expert and technical analysis largely agree, that such a price surge has the potential to happen once again.
Whilst many people can see the significant potential in NEM, there is a significant number of people who are wondering where to invest in this innovative investment for the long term. The answer lies in a reputable and well-established trading exchange with access to vital trading tools like eToro.
Where to buy NEM
NEM is available to buy and trade on eToro alongside 18 other cryptocurrencies. This is a well-established, highly regulated, and secure platform that has the potential to revolutionize your crypto trading.
What’s more, is that eToro allows you to access their incredible array of trading tools such as the Stop Loss, Take Profit, and built-in charting software that all let you maximize your potential profits whilst ensuring safe trading practices that protect your hard-earned funds. Also, eToro offers Leverage Trading on NEM. This allows you to multiply small amounts to become large powerful positions that drive massive profits.
Overall, the financial situation, risk tolerance, and investment strategy of each person vary. NEM is inherently volatile and the price can rise or drop at a moment’s notice, this brings advantages as it does risks. Both of which are important to understand and weigh against your own investment goals and needs. Only invest money you can afford to lose and balance out the risky nature of crypto investment by building a diversified portfolio.
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Disclaimer – This content is for informational purposes only and is not investment advice. The trading of NEM and other alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.