NEO coin was launched in early 2014 as AntShares, and the cryptocurrency has the ability to develop a network of decentralized applications which is scalable. NEO rebranded itself from AntShares to NEO coin during June of 2017. A total of 100 million NEO coins were developed, about 50 percent of that was sold to investors. Where the other half is locked in a smart contract, and every year roughly 15 million coins are unlocked in order to fund the long-term goals of NEO.
A majority of people have gained an interest in the world of cryptocurrency because of the staggering profits it has made for many people. Most of these people are investors where others are developers or people who are interested in making their own cryptocurrency. Conjecture is an important part of investing, in fact, studies show that most cryptocurrency investors invest based on speculations or conjecture.
(NEO) NEO Price Today – NEO / USD
Price 24H (%) -3.44%
Technical Analysis & Conflicting price predictions
As reported by theoofy there are many price predictions for 2019. However, there are three price predictions (predicted by experienced traders) in particular which seem to conflict. The first is known as the “$12 range hope.” Kryptowavetrader explains that almost all the investors wish they could buy cryptocurrency at the historical-low value.
He explains that the NEO coin will drop to $12 according to his prediction. He believes in this price drop as NEO coin is clearly following the price pattern of Ethereum (cryptocurrency). Although this price prediction may be false, in the world of cryptocurrency things can become ugly in a matter of days or even hours.
The second price prediction is known as “shorting all the way to $3.74.” Coinkilavuz demonstrates his price prediction, and he thinks that a lot of bearish speculations exists in the world of cryptocurrency. You have probably heard that many of these cryptocurrencies are just a “bubble.” He backs it up by stating that this shorting to $3.7 will only happen if NEO coin fails to break the $21.2 mark.
This conflicts with the other price prediction as a majority of people think that it is highly unlikely that NEO will drop to $3.7. Moreover, this speculation depends on the prices of other significant cryptocurrencies.
The last conflicting price prediction is known as the “The double bottom play.” BitcoinCompass is expecting or predicting a double bottom for the cryptocurrency’s price if his prediction proves to be true, then NEO can drop to either $17.7 or head up to $19.5. Either way, more people would start investing in NEO coin, although this price isn’t as high as it was just a few months back.
As reported by theoofy NEO coin’s price has dropped in the past few months and has been fluctuating since then. However, a study (Serious Issues With NEO: It Does Not Work.) shows that NEO might fail altogether and it is highly unlikely that it will achieve any of its goals.
The study states “NEO is a project that falls well short of its promises and its leadership more than likely does not possess the competency or the skill set necessary to ensure that this product is a success on any commercial level.”
With that being said there are many studies and speculations about NEO, some are very confident in its success and seem to think that it will break the $25 mark soon while others believe that it might drop below $5. The cryptocurrency market is very volatile, and so nothing can be assured.
Speculations have always existed, and although it is an important part of investments, it is not the only thing you should rely on. Because most of these speculations eventually prove to be false.