Nano (Nano) may have fallen by a huge margin in the last 24 hours, but that should not trigger you to sell. If anything, you should be looking to buy more. We all know that the altcoin market has in the recent past moved, in tandem with the price of bitcoin. In essence, anytime bitcoin falls the value of the altcoins market falls too. Nano (Nano) is no exception to these price moves. This then leads to the question, why is the market falling, are the crypto market fundamentals getting weaker? The answer is NO!
So what bearing do these news have on the value of Nano? Well, the issue of regulations will have one major impact, and that’s weeding out ‘shitcoins’ from the market, and Nano is definitely not one of them. This coin has some of the fastest speeds for any crypto, has very low transaction speeds, and is among the most scalable. This makes it relatively undervalued at its current price levels. You can expect its price to surge significantly in coming months, as investors move to take advantage of its current low prices.
On the issue of MtGox bitcoins flooding the market, this is a temporary issue and the market will ultimately rebound. Since the altcoin market has shown a historical pattern of following bitcoin, you can expect the value of a fundamentally strong coin like Nano to rally once the price of bitcoin starts showing signs of a bullish reversal. In fact, Nano (Nano) has the potential to hit its peak time highs of over $30 once the market rebounds.
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