Is the Nervos Network Hot Streak Over?

Crypto coin Nervos Network (CKB) has been dropping lately, and it is currently down by 15% over the last seven days, just four days out from Bitcoin’s halving.

The coin was surging toward a record high for the year when it started to decline. Thankfully for Nervos owners, the coin has not stayed strictly bearish.

We saw the start of a declining trend on Wednesday of last week. The coin had been climbing astronomically high and gained more than 100% in five days at the start of the month. Then, it started to fall from April 10^th.

The coin managed to recover slightly by the 12^th, and then it shot back down again. CKB reached a low of $0.02118 (CKB/USD) on the 13^th and has attempted to stabilize since then.

The current price is $0.02474, which is still above where the coin started off its bullish trend. Not all gains have been erased, and over the last 30 days, Nervos has gained 27%. Today, Nervos Network is down just 1.70%.

Watch This Coin Carefully

Nervos had an amazing early April performance, but the price corrected after it soared too high too fast. Now, as we close in on the Bitcoin halving event, Nervos is starting to behave like much of the rest of the cryptocurrency market. Bitcoin (BTC) is not doing as well as expected, because even though the price is up today, the coin is below $70,000.

We expect the market to surge in the next few days, perhaps following the halving. Nervos could benefit from that, and we expect that investors who are buying it now that the price is somewhat low will profit from it in the near future.

Something to keep in mind about Nervos, though, is that it does tend to spike very high every so often and then stay low for a while afterwards. Thankfully for investors, Bitcoin will be halving soon and will likely spur the market to frenzied activity that could draw in Nervos Network.