A mere 15 days ago it was introduced to bittrex. Since then, we've had highs of $170+ and lows of $27. Many people, myself included, were puzzled at the recent heavy downtrend.
Here's some information that made me particularly bullish, and invest:
These articles..
https://www.wired.com/2017/02/ai-hedge-fund-created-new-currency-make-wall-street-work-like-open-source/
https://www.forbes.com/sites/laurashin/2017/02/21/this-is-the-worlds-first-cryptocurrency-issued-by-a-hedge-fund/#2b4a9e7260b6
These comments..
Extremely low supply, incentive for staking + coins burned for poor performing models, and a relatively low market cap (even at the current prices). This one is going places.
Bought some bags last night. This is a hidden gem... anytime you have Renaissance behind a quant fund... holy hell.
I still can't believe how stealthily this token was launched. Love it. This token is unlike any other - extremely bullish.
And, most importantly, this update that numerai pushed:
https://forum.numer.ai/t/the-new-numerai-economy/347
Tl;dr of the update is that:
- Reduce NMR payouts ~90% to NMR 1510 per week
- Increase staking payouts 3x to USD 3000 per week
From the comments of this reddit thread (~~~ embed:numerai/comments/6kk1k4/the_new_numerai_economy_update/): reddit metadata:fG51bWVyYWl8aHR0cHM6Ly93d3cucmVkZGl0LmNvbS9yL251bWVyYWkvY29tbWVudHMvNmtrMWs0L3RoZV9uZXdfbnVtZXJhaV9lY29ub215X3VwZGF0ZS8pOnw= ~~~
If we look at this from pure mathematics perspective, price should go up by x / 0.1, meaning $35 / 0.1 = $360.
Of course, this will only occur if the market agrees on this mechanism and speculates accordingly.
Regardless, it is safe to say that the $30 mark will be the all time low for now.
What is driving the price down? All the data scientists who won numeraire for their efforts in making data models are now cashing out. The insane dump of numeraire onto the market has crushed it's price.
Some think the tides could change very soon.
Now is a very good time to buy NMR, imo.
Good points in this post. I fully understand what you're talking about. It's surprising how much uneducated investors the crypto space has. You still see people invest in this shady and scammy coins. We do need more indept investment analysis. Besides coinmarketcap.com there is: https://www.coincheckup.com The site is my go to place for crypto investment analaysis and indepth coin research.
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