NEO dead?
With all the FUD and uncertainty we have experienced over the last week or so NEO has taken a major beat down from its $50+ dollar all time high to its current price of 16 dollars. This major pullback is due to several reasons:
The coin went too high too quickly and was due a correction.
Talk of ICO regulation in China
Talk of Cryptocurrency exchange regulation in China
The CEO of the borderline criminal organisation JP Morgan claiming that Bitcoin is a "fraud". Causing a Bitcoin dip that made all altcoins fall in value.
The truth is that I think this is all nothing to worry about. I am still holding my NEO and I will continue to hold it for a long time. Most of this dip is caused by people in a position of power either trying to stop a movement that will render them obsolete or make crypto dip in order to buy in cheap.
Not only am I not even remotely concerned but I am starting to buy more NEO. It might not be the rock bottom but I thing that the 15-16 dollar range is an excellent entry point. Exchange and ICO regulation or not, NEO is an excellent project that will has a good future and I am confident that NEO will break it's all time high after all this Chinese driven uncertainty ends.
Let me know in the comments what your current opinion on NEO. Have you been put off NEO? Are you buying? Are you bullish long term?
Happy Investing
Cryptoviking
Too many people are emotionally attached to this coin.
With all investments you have to reassess the environment and perceived outlook. Guess what? It hasn't been great for a while and the price has indicated that.
Don't let FOMO rule. Set a buy order if you think you will miss a run.
There were 3 points where I would have sold...when it broke resistance at 40, 30 and 20. What are people protecting? I just don't get all the NEO HODLers on here.
Maybe it is not so much about "emotions" as it is about the raw "facts" - NEO a.k.a chinese Ethereum has it's potential hidden in fact that it had the opportunity to learn from Ethereum's mistakes and I am more than sure that it will not repeat them. Moreover - NEO already now has contracts signed with big companies like Microsoft for instance for further development and implementation if it's product. I understand that you might be referning to people that are still sitting on NEO's "hype train" without even knowing what exactly NEO is, still though - it's pretty understandable why this cryptocurrency is backed by such a big amount of "believers" - it has the amitions, the plan, the support. All it needs now is further development and more "check marks" in it's to-do-list. And again by "believers" I mean those 10% of "smart" investors out there that actually know and read stuff.
There is the company (model, management, etc), the price of the share (or in this case the token), and fundamentals of how the company is doing. In my experience from trading traditional stocks, it all matters but you have to look at the whole picture.
I used to get very angry whenever a company I had invested in published great earnings and the stock tanked because they didn't hit estimates or the outlook wasn't in line with wall streets expectations. These were still great companies and had great fundamentals but the price didn't match the whole narrative.
Take GOOG right now. 99% of the companies out there would love there top and bottom line numbers. Yet the stock price has wobbled in a range around $900 a share for a while. The other FANG stocks have made better YTD gains. If I were invested in GOOG right now i would be a little angry but my experience with trading allows me to understand why fundamentals and future outlook doesn't matter as much as you want it to.
Going back to NEO. Lets agree that it has all the makings for a great company that will make a ton of money one day. But right now it has FUD, large market negative sentiment to battle, along with the facts that it needs to get off the ground. In sum, the MC just didn't justify the price or the gain given the big picture.
Disclaimer. I missed the boat on NEO. I was about to go all in when it shot up to $50. I didn't lose my cool. There are always pull backs and watched the action. My younger self would have bought in by now due to FOMO and my emotions about NEO in general but we are dealing with hard earned money.
ANYONE that has ridden NEO from $50 shouting HODL on the way down will eventually lose his shirt in trading. You must look at the charts and market conditions more than the fundamentals of the company. Yes that even applies to people that bought in at a very cheap entry price.
You don't understand not everyone is day trading Neo. Neo is a share and it's not divisible. The Gas it accumulates is divisible. Don't you think people just want to hold to collect and sell Gas rather than selling the factory? Think about it 🤔
Again? :-)
good choose
@cryptoviking I definitely agree with you about NEO. I am also holding it and hopefully it recovers in the next week or few weeks. I am following you now too. @gold84
I bought more into NEO now that it's holding well at support anywhere from 25 to 30 dollars. Also getting it to collect on GAS.
Im holding. I think its a great time to buy up more. Once the market gets going again there is money to be made.
I agree. I wouldn't be surprised if we see 100 dollar NEO in the next 12 months.
I hope so. I'm sticking with NEO as my main coin fro the long term. If the can get it's platform working properly it will be massive in a few years.
I am buying more NEO to im buying lots of coins atm with these rock bottom prices...i think we can safely wipe out the borderline onfront of JP Morgan and call them what they are "criminals"..good write up. Cheers
You are absolutely right, mr. @cryptoviking - NEO is a project with huge potential and it's far away from being "dead". It's just the market uncertainty and fud that have caused such a sharp downtrend of this cryptocurrency. However everything has it's +ses and -ses - at least traders have a great opportunity to get in or buy more if they have missed their chance before ;)
What bothers me with NEO isn't China - they are not going to lose out of the tech potential and will probably simply "regulate" it.
However, compare the team of NEO to Ethereum, Lisk, Iota, EOS etc. I do not find the team of NEO impressive at all.
Still hodling strong onto my NEO. Have high hopes that NEO in particular will be in the government's favor once the dust settles. Then we should 🚀
Yes, I too think that they will work with the Chinese gov't and become an important coin there. China is not going to ban everything outright, they are just going to want some input and control. Neo has experience in the space and I think it will be fine long term. Hodling here
Hi! I just upvoted you! I found similar content that readers might be interested in: http://cryptoupdates.net/price-prediction/neo
Looking at the NEO chart, this is a normal regression.
If it goes below 5$, then one can be concerned.
JPM is not borderline criminal organization...they just pay their fines yearly
Also, the hype train is done for NEO, now they need to start implementing their plan and show results.
Very good blog. I was about to post a similair thread. Some people say it's a high risk market but if you're willing to hold your coins with a 2 to 5 year vision I bet the risk might not seem that high by then :-). Personally I always use: https://www.coincheckup.com Supposingly they researched every crypto coin in the scene based on: the team, the product, advisors, community, the business and the business model. They even score the coins stengths. Go to: https://www.coincheckup.com/coins/Neo#analysis For the Neo Report.