Well - that was a perfect storm of events that caught Nano out in the rain undergoing a decent tress-test:
* Nano rebrands from Raiblocks on Jan 31 in a bear market. * On the same day BTC begins a steeper decline and takes the alt market with it. * As BTC and the market begin a major reversal upwards around Feb 7 Nano is drawn into the drama of failing exchange Bitgrail.
The NANO/BTC chart is deceptive during this time:- BTC is rising fast and Nano is holding at around US$ 10.00, making it look as if Nano is falling. The storm of negativity around Bitgrail hammers Nano for 2 weeks, sending it down to US$ 7.50.
With a total supply of just over 133 Million coins ( capped - all coins in circulation ) compared to IOTA’s 2,7 Billion, this coin is ready for healthy gains. The Nano community and the product have held together in a difficult market environment and we may be at the turnaround point ....
Hope you are right. I'm holding my position and bought at $0.65. Nano team needs to find those stolen funds and burn them, the thieve/s are selling them and making the value drop
I've been watching the Nano Chart and Reddit community postings ( reddit.com/r/nanocurrency/ ) for the last 3 weeks and impressed by the fundamentals. But you probably already know that if you bought in so early. I bought in at the recent dips with a positive view for this coin long term. It's undervalued - with a similar technology to IOTA - zero fees, low energy consumption, high transaction speeds. NANO seems to have a strong developer community and support base. IOTA has about 20 times more coins in circulation & is trading at $1.75 - so if NANO were to reach parity with IOTA, which feels possible - then NANO would be priced at around $1.75 x 20 = $35.00.
If you bought at $0.65 then you're way ahead of the game!
The market is very volatile at the moment - so if this happens, and when, remains for the future to reveal : )
umbertocaba
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@DVemer, Thank you for taking the time to answer. Great review. Good trading my friend.
What is your price prediction for March-April?