I used to love this coin ... I still do, really. But it's like a relative who keeps promising to pay back a loan and never does. I've longed it SOOOO many times on bounces, to see other coins outperform NEO.
I do remember the time when NEO was "this" close to taking over LTC. It got within a few hairs of displacing it. Then litepay came along and opened up a $100 price gap. That dropped to a $50 to $60 price gap once the litepay fiasco came to light ... but there it is.
So what gives? On all the bounces, it just hasn't come back with strength.
I've heard NEO is a favorite in China ... and perhaps it's lost it's support. I'd love if anyone can elaborate further on this.
However, let me stick to the TA.
There's enormous support for NEO in the $22 to $32 range ... and we are in it.
Unless this coin is dead ... as in there's a fatal flaw and it's going to $0 ... this has to be a great buy opportunity. But I am concerned, based on previous history, it might be one of those coins that you buy and hold for a long time before we get that insane rally to ... could you imagine $200 again ... okay, I'm not going to get ahead of myself ... but look at the chart ... there's got to be some serious upside potential.
I'd be prepared to set buys in staggered from $22 to $29 ... but the strategy would be a longer term hold.
Remember only a fool relies on one potential outcome.
Do not use this information for investment/financial decisions. For educational purposes only.
This is exactly what NEO did last time as well. Keep in mind there are borderline no DAPPS on any platform token that are used by more than a couple people. The decentralized exchanges on ETH like IDEX have a couple thousand users per month. That's it. There's so little demand for DAPPS that it's really hard to measure how good one platform token is vs the others. Right now EOS has been all the hype. It doesn't take much expertise in the area of crypto to tell that what they're doing is going to work. NEO was criticized for being a little bit centralized in the beginning. Funny enough, EOS is pretty similar outside the governance model.
I really think NEO is going to come back to life with a vengeance. Please don't think I'm a total idiot for what I'm about to say, but it has a really cool symbol/name/color, it generates dividends, and has a nice group of developers (and shillers) behind it. When the market comes back to life NEO will have more room to run than ETH. I got lucky and sold the top, now I'm very close to buying back in.
One thing I don't ever believe (total opinion) is that China gives a damn about any of the coins made in their country. It's sorta scary to think about. A HUGE percentage of NEO was traded on US and EUR exchanges and a very small percent in China. Even before the ICO ban in September or whenever it was.
If you've held until now don't sell unless you have 0 BTC. You gotta have some BTC if you wanna play in the crypto markets.
MAGICMARK
⋅
@jaronfitz, thanks for this info. Very useful. I did long NEO at 27.6. I'm very happy right now.
YunasKhan
⋅
So dear what do you think. Can we meet again with a new low price of neo in near future .i mean 22. R 16 usd?
MAGICMARK
⋅
@YunasKhan, I don't think a strategy of look for only the very bottom price is a successful one, as most people will miss the bottom or enter too early.
I normally pick a few key points in a buy zone. So let's say I establish a NEO buy zone at $22 - $29 ... I'll split it say 4 ways ... $22, $24, $26, $28 ... and buy 25% of what I plan on spending on NEO at each level (I am in other coins too, so only a portion of the portfolio goes to NEO). This means, as the price keeps dropping ... then the cost average of my NEO keeps going down.
jpbrown1023
⋅
I’m keeping the faith! It’s my favorite coin and it’s the best coin for a hodl trader because NEO provides GAS in return.
@MAGICMARK, you as well. I haven’t been holding for some time due to the correction in the market, but have been looking for the right time to buy. I still think, despite all the bullish sentiment on TV, that BTC is still correcting and destined for sub 5k prices. I think we’re on subwave 2/5 of wave C. Can I get your humble opinion on your wave count?
MAGICMARK
⋅
@jpbrown1023, I don't think the bears have the strength to get it to 4k now. But I do see a lower low. There are 3 options I have in mind:
- we bounce up from here (maybe after a small drop to 5.8k first), then in a few months they take it down to 4k.
- they nuke BTC with some very bad news (major exchange hack or goes bankrupt) and we go to 3k now.
- we sideways for 4 to 6 months and it slowly bleeds to 4.5k ... and the alts get creamed in the meantime.
See these ideas:
and
jpbrown1023
⋅
@MAGICMARK, so you’re thinking a year long bear market before we go bull again?
MAGICMARK
⋅
@jpbrown1023, that's not my highest probability ... I'm just saying that is one of the scenarios. I never just look at one possibility, I like to pick two or three, and then classify them into likely, possibly and unlikely.
My most likely is that we are close to bottom here, we get a bounce up and then one final down to around the 4.5k mark sometime in september or october, and then we switch on the afterburners to ride a nice impulse wave up. No guarantees obviously!
I really think NEO is going to come back to life with a vengeance. Please don't think I'm a total idiot for what I'm about to say, but it has a really cool symbol/name/color, it generates dividends, and has a nice group of developers (and shillers) behind it. When the market comes back to life NEO will have more room to run than ETH. I got lucky and sold the top, now I'm very close to buying back in.
One thing I don't ever believe (total opinion) is that China gives a damn about any of the coins made in their country. It's sorta scary to think about. A HUGE percentage of NEO was traded on US and EUR exchanges and a very small percent in China. Even before the ICO ban in September or whenever it was.
If you've held until now don't sell unless you have 0 BTC. You gotta have some BTC if you wanna play in the crypto markets.