Hy guys, today I want to talk about the future of NEO, and why I think it won't fall beneath the 30$.
REECENT FLASH DROP
The recent flash drop of NEO was due to China's government starting to regulate new ICO's. Temporary ban disallows Chinese people from participating in ICO investments, but the ban does not refer to any other foreign investors.
A lot of people panicked, because they didn't know what effect will this make on the market. Well in my opinion government regulations will be working as a catalyst for well backed ICO's, which actually have a good working product or at least a good business model/white paper. On the end game ICO's that win in the next coming years will be the ones which don't rely on ICO/token sail, but on monetisation of their business model.
CEO of NEO: Dahongfei
NEO IS GOVERMENT FRIENDLY
Crypto market in China is to big to fail. There is a lot of interest in ICO's in China and there is to much to lose if you don't participate as a government in such a market. As America started regulating, China followed but the negative effect is going to last only in a short term. When all of this regulation talk calms down and people continue to see NEO as a long term investment, the price rise will follow.
POTENCIAL BUY IN TIME
My personal opinion about NEO is that it won't drop bellow 30$. People are starting to see the benefits of regulations. They are going to clean the market from worthless ICOs and give a better liquidity to quality markets, as the cash flow follows.
If we look at Fibonacci retracement, we can see that it dropped bellow the 38,2%. In my opinion this is a great time to buy and hold for the long term. NEO is currently UNDERVALUED.
BDW if you want to learn how to use Fibonacci, RSI ect... I'll be posting a blog where, I'll show you how I do it and when is the best time do buy the DIPS.
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Comments are also very welcome. I want to hear what you think about NEO and the regulations. I will REESTEM and reply to quality comments, I wish we can start a quality debate.
CRYPTOPREDICT.ME OUT!