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NEM Price Rises Quickly as Traders Target $0.05

Nem price rises quickly as traders target $0. 05

NEM Price Rises Quickly as Traders Target $0.05

Nem price rises quickly as traders target $0. 05

As is always the case in the cryptocurrency world, the markets will shift into a higher gear on a dime. Today is no different in this regard, as the top markets have all turned bullish out of the blue once again. A very positive trend, especially for those who like to keep an eye on the NEM price. This altcoin is going through a rough patch right now, yet its price chart shows different momentum.

NEM Price Shifts Into High Gear

It is always good to see the crypto markets flourish, especially during these weekends. Earlier weekends have displayed very bearish trends first and foremost, yet this one seems to be something else entirely. A lot of traders will be happy with how things are going right now. Especially NEM holders have been waiting to see the altcoin reach $0,05 again. So far, the currency is on track to do so.

To put this in perspective, the most recent NEM price surge notes a 6.1% gain in USD value and a 3% increase in XEM/BTC. Because of these gains, one XEM is valued at $0.046 or 1,138 Satoshi. All of these signs seem to indicate there is a lot of bullish momentum brewing. Most of this excitement stems from bitcoin’s ongoing rise in value, though.

When looking at the current price chart, it is evident there has been a very solid gain. Although this is the chart of this morning, and not the current one, the weekly trend has been bullish all along. Even the most recent setback yesterday failed to disrupt the trend, which seems to indicate this may be the beginning of an extended price run.

XEM Hodl, on the other hand, sees this as the beginning of the major bull run. While this user clearly expects XEM to hit $1 at some point in the future, the altcoin would need a 20-fold increase in value to reach that level. Not impossible by any means, although it will require a lot more bullish pressure on bitcoin to make something like that happen.

Most of this current momentum seems to originate from the Japanese markets. That is not necessarily a big surprise, as XEM is a Japanese crypto project which is primarily traded across the Japanese exchanges. For the time being, there is a lot of positivity to go around, although this bullish run can easily be negated if bitcoin goes into sideways trading once again.

All of these market signals seem to confirm today will be a good day for all cryptocurrencies, tokens, and digital assets. NEM will not be an exception in this regard, which will please most of its holders and traders. After a rough period involving the Coincheck hack and a few other kerfuffles with the NEM Foundation, things have begun looking up again for the New Economy Movement project.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

Image(s): Shutterstock.com

Published at Sat, 23 Feb 2019 18:50:10 +0000

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Big Money! Casascius 1 BTC Coin Sells for $28,700

A certified Casascius 1 BTC coin just sold for $28,700 on eBay, an amount much higher than the current $14,300 that a single bitcoin is going for.

It may be that cryptocurrency is moving into the realm of collectability as well as a means of financial transaction. A Casascius 1 BTC coin that was originally released back in 2011 as part of the coin’s second series just sold on eBay. The winning bid was an eye-opening $28,700.

Bidding War

Overall, the Casascius coin had 166 bids placed upon it. The seller bravely started off the auction at 1 cent. This was pretty gutsy as the coin contains 1 bitcoin in value, which currently stands at $14,399.

The auction got off with a bang as the first bid raised the price to $10,100, and the action just heated up from there. For a couple of days, bidders nibbled away at a $20,000 bid that someone had put into place. On the last day of the auction, the price went from $17,200 all the way up to $28,700.

The coin has an ANACS rating of MS 65, which equates to an absolute mint state. The bitcoin value of the coin is unredeemed, and the private key is contained on a piece of paper that has been sealed to the coin with a tamper-evident hologram sticker.

What is a Casascius Coin?

These coins are rather unique. Their creator is Mike Caldwell, who decided to transform virtual currency into physical coins. Caldwell minted coins that included the key to access a specific amount of bitcoin, normally 1 BTC. However, he did make denominations up to 1000 BTC.

The coins were pretty popular, but Caldwell was shut down by the federal government. Back in 2013, Caldwell received a notice from the Financial Crimes Enforcement Network (FINCEN), a part of the US Treasury Department. They felt that his business equated to transmitting money. If he wanted to continue, he would have had to do a tremendous amount of registering and complying with both state and federal regulations.

Overall, Caldwell minted 27,673 coins, boasting a total amount of 59,383.9 BTC. At the current value of Bitcoin, the total amount of coins he made is worth a staggering $854,920,910.

Just like other collectables (looking at you, action figures!), a mint Casascius coin that has never been spent tend to be worth more than the value of a single BTC. If you have the urge to expand your coin collection, there are additional Casascius coins to be found on eBay in both loaded and unloaded varieties.

Would you have bid upon this particular auction? If so, how high would you have gone? Let us know in the comments below.

Images courtesy of Wikimedia Commons and Bitcoinist archives.

The post Big Money! Casascius 1 BTC Coin Sells for $28,700 appeared first on Bitcoinist.com.

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