There doesn’t always have to be a fundamental reason for spikes like that.
Market technicals being ready for panic buying, such as:
- Uncertainty in BTC
- ETH, DASH etc. margin asset bubbles/spikes bursting
- Other more prominent / middle level cryptos also reaching their peak…
- … leaving bunch of weak coins with little sell resistance a spur of greedy FOMO buying
weak coins = little development, small market cap, order books quite empty…
One of the strong suits for XBC was it’s very limited supply, that once the above conditions were met and panic buying was triggered, it resulted into very steep rise in price development in short amount of time.
These are rare events and in case of XBC for instance, it had been able to avoid numerous delistings and lurk around mostly forgotten, while still attracting a couple developers, which changed during the years.
Exactly same could happen to NSR in my book and that’s why I’ve been interested in it since last summer… It has very high previous price levels compared to the bottoming out it did, which means potentially very high return percentages on pretty high risk, but where the potential returns greatly outweigh the risk. Lot’s of patience required to hold and like XBC, returns can yield 100x initial investment. Heck, the ETH bull trend couple years back was over 70x in couple months as well so it’s not like buying near death assets is my main game anyway. Good to have couple wild horses in the stable though as you never know.
What still makes me think NSR could be one of the unicorns is exactly the turbulence of the community while yet still it somehow holds together making a “miraculous” comeback ever so possible.
You have to note that XBC too had, in it’s history, even much higher prices than what the spike you see… Prices as history tend to repeat themselves. Unless of course a project is terminated by it’s developers or a company goes bankrupt in the stock markets… Crypto is somewhat more forgiving in that sense, but on the other hand way more risky / faster paced as there are much more things that can go wrong… Like Poloniex delisting for instance… Such a shame seeing such a good bull market run cut like that.
PS. Another factor that makes me still think NSR has potential, even if it’s delisted, is that perhaps the delisting will clear all the sell resistance it had against it, and once it’s back on some other major exchanges it might be able to hold much higher price if the launch is executed with a more mature product etc. Depends on many variables, but that’s also in favor for it… I might actually consider buying a bit more as prices are so low.