NEM (XEM) went from 23 cents to 68 cents in roughly 12 hours yesterday. There may have been some unofficial news that NEM was going to release a wallet program for WeChat. That may the reason for the spike in price. Keep in mind that this news in unconfirmed.
WeChat is a popular Chinese mobile app for social media, messaging, payments and shopping. It is understandable that some type of partnership with NEM would be great news.
I do like NEM as a long term investment. I have held it for about 6 months and will continue to hold. Back then they were putting millions of dollars into the business and opened up a multi-million dollar facility in Malaysia.
So, is now a good time to get in?
Here are my thoughts if you are planning on a long term investment in NEM. The price has come down to 42 cents which is a healthy pullback from the quick high of 68 cents. This may be a chance to buy a portion of the amount you would like to eventually have. That way if the price pulls back further you can add to your position for a better average price. It also gives you some coins if the news really does turn out to be true and we get another leg up. If it is false then NEM could go lower.
In either case I believe NEM will do well in 2018 and beyond.
This is just my humble opinion. Please do your own research before investing in any coins.
Good luck and good fortune to all. Any comments on NEM are more than welcome.
