The NEM hacked on Japanese Crypto Exchange Coincheck

Since the crypto currencies named “NEM” worth 55 billion dollars was hacked at the most popular Crypto Exchenge “Coincheck” on Jan.26th 2018, the Crypto market chart has crashed drastically like Bitcoin, ripple,Etherium etc,
Out of all of them, Nem has plunged the most in the shortest amount of time.


What happened to Nem?

At the below term,
The price on Jan.26th 2018→Feb,22th.

About Bitcoin(Per 1BIT)
11,740USD→9,722USD(The decline rates is 8%)


About NEM(XEM)
0.97USD→0.42USD(The decline rates is 57%)


Why are these decline rates so drastic between bitcoin and nem?

According to a questionnaire directed towards Japanese crypto investors,
when asked “How long is your experience in investments?”,
61% out of 15,000 people were not only people who only invest Cryptocurrencies  but also beginners to investments.


So, we can figure out that there are lot of beginners in investing in
the Japanese Cryptocurrencies market.
The Cryptocurrencies market tends to be easy changed by their emotions.


After the incident with Coincheck, some of investors starting worrying
that, “Our Nem will be stolen again”, ”The whole Cryptomarket is the
end”, etc.

In the summary, these feelings are what triggered the huge sell-off.

Due to them, The Nem’s current chart is constructed like Burj Khalifa which is the tallest building in the world.

↑the tallest building in the world.(Burj Khalifa)

↓Nem’ chart for 1 year.

The Crypto market is expected to climb higher after May 2018 is in prospect.
It is said that almost all investors in the world are optimistic about this decline rate.