NEO Predictions: A Worthwhile Investment? - TopasiaFX

006, Dec 2021

NEO is a popular blockchain project that currently ranks 53rd out of all cryptocurrencies on Coinmarketcap, making it one of the most popular altcoins. In this article, we’ll take a closer look at the short- and long-term NEO price predictions and, in particular, the predictions for the future. But we’ll also discuss the current NEO coin rate and the historical data of the coin.

Everyone naturally wants to know what the NEO price will be in the future. There are many NEO price predictions on the Internet, but which one should you take seriously? It is best to make your own judgment about the potential of NEO. You do not have to follow all predictions indiscriminately.

As cryptocurrencies experts claim, it’s quite possible that the price will break through the critical resistance area at $60 again, setting a new record. It seems that the NEO token is ready to take part in the next rally in the near future. On this page, you will find the necessary facts that you can use to answer the question for yourself: "Is NEO a worthwhile investment?"

What Is NEO?

NEO, in short, is a blockchain project from China founded in 2014. It used to be called Antshares, but this changed later. NEO is also called the Chinese Ethereum because they are strongly committed to creating a smart economy. This means that the developers of the project want to make it easy to use smart contracts on the NEO network.

For a trader to use the NEO network, a second cryptocurrency is used - namely, GAS. This can be considered the fuel of NEO. One share of NEO is also seen as one share in the network, and the GAS cryptocurrency is used to make transactions on this network.

By saving your NEO in official wallets, it is possible to earn GAS with your NEO. This is due to the proof of stake principle. You simply deposit your NEO coins in your wallet and receive a portion of the GAS spent on the network in proportion to the amount of NEO you own. It is thus possible to generate some kind of passive income for yourself. You can imagine that when the NEO price or the GAS price rises, you will benefit from the price difference on your NEO but also that of your obtained extra GAS.

This is one of the reasons people invest or have invested a lot in NEO in the past. Over the years, as with any project, a lot has happened with the NEO trend. We should add that it’s not possible to mine NEO coins because they were all distributed during the ICO. 

NEO in 2020 and 2021: Some History

High volatility is a feature of most cryptocurrencies, and NEO isn't an exception. Some historical data will help you build NEO projected values.In 2020, NEO was below $10 at the beginning of the year and touched the lowest point of the year of $4 on March 13 (at Bitfinex exchange). Yet, the NEO value managed to jump to $25.90 by September 18. At the end of the year, the NEO/USD pair settled near $14. 

It's well-known that small cryptos copy movements of BTC/USD. Thus, most of the ups and downs of the NEO/USD pair just repeated Bitcoin's trends. For instance, the coronavirus hit financial markets in March 2020 the most, resulting in downtrends in the crypto world, pushing Bitcoin and NEO down. 

Still, some events caused divergence in the direction of prices. At the end of July, NEO partnered with the Blockchain-based Services Network. BSN is a global infrastructure that offers a cheap platform for blockchain projects and similar companies, creating a digital economy. This event pushed the NEO rate up. You can see how NEO coin news can affect the price of the cryptocurrency. 

NEO coin has experienced wild volatility spikes in 2021. The year started at the price of $14.25. In the middle of April, the coin showed rapid growth due to Bitcoin’s performance. Also, the reason for such spikes was the release of a newly updated version of the Go node for N3.

The main difference from the previous version is that the tracking code now diverts from the implementation in the core C# client. The update has corrected a potential deadlock in nodes that have the optional notary service enabled. Moreover, wallet files are cleaned up properly after keys are removed.

Chinese crypto regulation affects the NEO price, too. On April 19, in the early Asian session, NEO skyrocketed as the People’s Bank of China called cryptocurrencies “investment tools.” The country was going to issue new regulations, as stablecoins were turning into payment solutions.

This bullish trend continued to May 7. The cryptocurrency hit a new year-to-date high of $140.77 on May 7, 2021, and fell to $25.03 by July 20, 2021 (Bitfinex exchange). A harsh crash followed, as Bitcoin suffered greatly in the second half of May. 

The price gradually increased from $25.03 on July 20 to its recent high of $62.97 on August 24, growing by over 151% within a month. At the beginning of September, the price went up and crossed the $60 mark. However, it didn’t manage to stay this way, and the price correction began.

The last NEO all-time high price was 196.85 USD on January 15, 2018, it is much higher than in 2020. A strong bullish trend that began after the June 2017 rebranding pushed NEO price to its all-time high. However, later the market corrected and the NEO downtrend continued until January 2021. The NEO/USD today’s rate is: $29.28

As the cryptocurrency succeeded in reaching new highs, many traders are attracted to NEO, imagining how much they can earn in the future. Continue reading with