Article Index
1. Introduction
2. What is NEO?
3. NEO Price Prediction by market
4. Coinnounce’s NEO Price Prediction
- NEO Price Prediction 2020
- NEO Price Prediction 2019
- NEO Price Prediction 2018
5. Conclusion
Introduction
The past few months have been pretty rocky for the cryptocurrency world as the crypto market witnessed a decline in the prices. But recent changes in the markets have caused the prices of altcoins to increase. Recently, China’s president has shown interest in the blockchain community as he decided to invest $2 billion for the research and development of the blockchain industry.
This news received a warm response from the crypto industry, especially NEO, which witnessed a surge of 45% in its price. The next price increase came when PayPal decided to stop the payments for the adult entertainment giant, PornHub. This news caused a surge in the price of Verge (XVG Coin) and the price of NEO.
Currently, NEO is trading at $12.28 with strong resistance at $12.50, and immediate support can be seen near $12. In the past 24 hours, the altcoin has seen an increase of 1.52%, giving the coin 16th position in the market with a market cap of $870,682,853.
What is NEO?
Launched in 2014, NEO is an open-source, decentralized blockchain application platform that was founded by Da HongFei and Erik Zhang. Initially, it was released as Antshares, but the company rebranded the token to NEO in 2017. The platform can support up to 10,000 transactions per second, and it works on the proof-of-stake model as the core structure.
When launched, the NEO coins were given a supply limit of 100 million out of which 50 million were sold to the early investors while the remaining 50 million were locked in a small contract. From these tokens, every year, 15 million tokens are released, which are used by the development team of the NEO platform for funding long term goals of projects. The core of NEO works around tools that allow developers to work with smart contracts efficiently on the NEO blockchain.
Note: NEO Foundation has two operational units that are funded by them, and these are NEO Global Development (NGD) and NEO Global Capital (NGC).
NEO Price Prediction by market:
1. Being Crypto
This crypto platform has predicted that the price of NEO might reach $120 by the end of 2019, and for the next year, i.e., 2020, the price could reach the level of $200.
2. Smartereum
Smartereum is another crypto price prediction platform that has given a long term prediction of the coming five years. According to them, the price can reach $1275 in the next five years.
3. Crypto Ground
Crypto Ground predicts that the price of NEO could reach $195.352 in the next five years. This prediction sounds realistic as compared to others because of its range.
4. Coin Fan
Coin Fan has predicted that the price of NEO can reach $200 by the year 2020, and it could be the highest price it’ll ever reach.
5. Wallet Investor
Wallet Investor has been optimistic about the price prediction as they believe that the price could reach $48.458 by the year 2020, and in the next five years, the price might reach $190.227.
Coinnounce’s NEO Price Prediction
Predicting the accurate price for a cryptocurrency is not possible due to the volatility of the market, and these predictions are made based on the past trends and the market response and trading volume of the token.
NEO Price Prediction 2020
The past few months have been slightly bullish for the crypto market as the assets struggle to gain a rise while continuously fighting the bearish pull from the market.
The price has seen a slight increase for NEO amid the blockchain support and increased altcoin acceptance by the crypto market. It is predicted that the price for NEO can reach $25-$30 by the mid of 2020 and further reach $50 by the end of the year.
Note: In March 2018, the parent company of NEO, Onchain, released 1 Ontology token (ONT) for every 5 NEO tokens that a user had in their wallet.
NEO Price Prediction 2019
With the price at its ATL, it was predicted that the price would witness a rise, and the market can expect the price to reach the level of $35-$40 by the end of the year. However, the bullish predictions were failed by the token.
The price did witness a surge in the third quarter, but it was much lower than the expectations of the community. The price predicted for the year 2019 is that NEO could reach a price of $20 by the end of the year, according to our analysts.
NEO Price Prediction 2018
2018 was the year for the crypto market, where every cryptocurrency and altcoin entered the market with a highly bullish trend. Every asset was witnessing its ATH price, and the predictions were touching the sky.
NEO entered 2018 with a price of $148, and it was predicted that the price would reach $200 and beyond for the coming months. But things changed when the price started declining, and the price reached the ATL of $7.50 by the end of the year.
Note: NEO is among the well-known cryptocurrencies, and it was a part of the top 10 cryptocurrencies, as well. The asset is often referred to as ‘Chinese Ethereum.’
Conclusion
The altcoin market has seen a sudden boom in the past few months as more and more people have moved towards the acceptance of these assets. Tokens like NEO have been growing slowly, and this has helped the altcoin to be a somewhat promising option for long term investment.
