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
