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Investing in NEO: the bull and the bear case (January 2019)
NEO (NEO.X) is trading at $7.76, up 1.85% in the last 24 hours. NEO is a smart contract platform focused on the development and deployment of decentralized applications. The final goal of the NEO project is to create "Smart Economy" by utilizing the distributed ledger technology.
When it comes to investing in NEO, these are some of the frequently asked questions:
- Is NEO currently a buy or a sell?
- Should I sell or hold NEO today?
- Is NEO a good buy/investment opportunity?
Here are the reasons to buy NEO (the bull case):
1. Despite the uncertainties revolving around the future of ICOs and cryptocurrency in China as the Chinese government is imposing strict regulations against Initial Coin Offerings, the NEO project is said to be supported by its country of origin, while the crypto community dubbed NEO as "Ethereum Killer".
2. NEO has massive potential in the market that came after a successful rebranding from Antshares, which was the original name of this blockchain-based project, now aiming at combining digital assets, digital identity and smart contracts into a single Smart Economy.
3. The platform has significant projects and partnerships which together contribute additional value to the project. Partners such as OnChain, NEX, ICO, City of Zion, NEOX, Microsoft, and many others, are driving the adoption of NEO.
Here are the reasons to sell Neo (the bear case):
1. The western market is still withholding from investing in NEO, as the protocols and technology used for the project are completely different from those used for Ethereum. Investors outside the suppressed Chinese cryptocurrency market still place a greater value on Ethereum (ETH).
2. NEO is focused on dApp creation; however, EOS and Ethereum represent serious competition in the sector of smart contract operations and dApp development.
Neo: what does the future hold?
NEO (NEO.X) is trading at $21.06, down 6% from yesterday. Despite its attempts to retrace higher, Neo's upside has been capped below $30.00.
What is Neo's price forecast? What does the future hold?
First, some background on NEO: it is the 13th largest coin by market cap ($1.48 billion). In order to enhance security for its blockchain and smart contract technologies, NEO is exploring various solutions. It has partnered with a formal verification platform for smart contracts and blocks chain ecosystems, known as Certik.
Coinbase is exploring the option to add NEO to its custodial services. This could instigate a huge surge in price if the decision to add NEO is made.
With the upcoming NEO 3.0 upgrade, the network speed will increase remarkably which will enhance the number of transactions per second (TPS). Currently, NEO's TPS is 1,000, which is already much higher Ethereum's or Bitcoin's TPS.
A sports-betting decentralized exchange (DEX) known as Block Sports is built on the NEO blockchain. The platform wants to enable head-to-head betting functionality and formalize real-life wagers between two individuals on the NEO network. By the removal of central points of failure through the creation of a decentralized and trusted framework, the Block Sports Exchange intends to resolve hacking and theft issues. Also, an off-chain service layer would be used for providing a rich user experience.
What is the short-term sentiment for NEO? Here are the major technical indicators:
- MACD is in a bearish zone. MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices. MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
- RSI (relative strength indicator) is moving lower towards the 40 level, indicating the crypto is oversold. RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
- A new major support level is forming at $19.98;
- A new major resistance level is forming at $24.35.
11 best cryptocurrencies for August 2018
After a significant dip in the second quarter of 2018, cryptocurrencies are becoming popular again among retail investors, appearing in the mainstream media headlines every day. There are a few cryptocurrencies that have grabbed investors' attention. What are the best cryptocurrencies to invest in in August this year?
Before we share with you our top 11 list, here is our little hack: use the cryptocurrency investment idea tool to stay up-to-date on the best investment opportunities in the altcoin space.
Bitcoin is by far the most popular cryptocurrency today, garnering a plenty of investors' attention. We think Bitcoin may be a good opportunity to invest in now because:
- It is the most established cryptocurrency.
- Stock market volatility and political uncertainty are good for Bitcoin. In general, political unrest is not good for the stock market, because its value is tied to established companies that depend on government services. But given the political climate across the world, and decreasing faith in government institutions, Bitcoin is becoming increasingly more popular.
- It's easy to invest in it: investing in Bitcoin is as simple as buying a stock on an online exchange. You can use also a zero-cost brokerage such as Robinhood to do that.
Stellar is also based on the blockchain technology. It connects banks, payments systems, and people with a goal to move money quickly, reliably, and at little or no cost. Here are the main reasons why one should consider investing in the cryptocurrency now:
- Stellar offers low-cost transactions and accounts. 1 USD will cover about 400,000 transactions, and there are various licensed exchanges where Stellar Lumens can be purchased.
- There is a good market opportunity for the cryptocurrency as Stellar is the first distributed ledger protocol which received Sharia compliance certification in the money transfer and asset tokenization space.
- Security is one of the main focus areas for Stellar, and the company solved security-related challenges in a very creative and effective way. Stellar's nominal base fee, paid by transaction initiators, deters malicious attacks that can flood the network. Whenever there is a suspicious account submitting transactions, this base fee increases.
Stellar (XLM.X) is trading at $0.27, down by 0.75% from yesterday.
IOTA has a market capitalization of $2.5 billion USD today. It focuses on the emerging machine-to-machine (m2m) economy of the Internet-of-Things (IoT) and other applications where a scalable decentralized system may be warranted.
Unlike other cryptocurrencies that are based on the blockchain technology, IOTA makes use of its unique infrastructure known as Tangle. We think IOTA is a good investment opportunity now, because of the following reasons:
- It has good scalability, no-fee transactions, and no blocks. It targets the up-and-coming market opportunity called the Internet of Things (IoT), which could reach more than 1 billion transactions by 2020, thus necessitating a secure, cheap and scalable micro-billing mechanism for everyone.
- Its partnerships with the mainstream companies such as BOSCH, Volkswagen, and Porsche seem to be very promising.
- It can be easily bought in a hasslefree manner using many exchanges (e.g., Coinhako). With the growth in the ecosystem every day, buying or selling IOTA will become even easier.
IOTA (IOT.X) is trading at $0.91, down -2.8% from yesterday.
EOS is one of the most used blockchains in the world today. It has a market capitalization of $6.3 billion USD.
EOS is a blockchain project that enables horizontal scaling of decentralized applications, allowing developers to efficiently create high performance distributed applications. It is a good investment opportunity because:
- It is simple to use, and accounts are easily recoverable in case of security breaches. This is very helpful for the mainstream public that doesn't have much experience with private keys and account security issues.
- The EOS network is pretty efficient with handling volume bottlenecks on high transaction days.
- EOS has zero transaction fees. When a smart contract is executed, EOS requires the user to stake tokens which are returned back to him or her after the execution.
EOS (EOS.X) is trading at $7.04, down by 3.68% from yesterday.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference. It is one of the most promising coins in the crypto world and one of the best long-term investment choices for crypto investors because of the following reasons:
- Since many Initial Coin Offerings (ICOs) intend to release their tokens on the Ethereum network, its price is expected to appreciate over time.
- It has the potential to transform the financial system just like Uber and Airbnb did in their own industries. The Casper and Sharding technologies depict significant milestones in its development.
- A decreasing trust in the traditional financial markets is prompting traditional investors to look into the most established cryptocurrencies such as Ethereum.
Ethereum (ETH.X) is trading at $418.08, down by 1.82% from yesterday.
NEO is the first Chinese cryptocurrency to be globally accepted. Founded in 2014, its mission is to reinvent the way commerce is done.
NEO entered the top 15 coins by market cap and its capitalization is north of $1.7 billion today. We consider it to be a good investment option because of the following reasons:
- NEO is not just a cryptocurrency, but also a project that helps in the creation of digital assets, smart contracts, and other applications on its blockchains.
- In the NEO platform, a straightforward transfer of shares, equity, and assets is possible because users are able to issue and trade assets. In order to prove an asset's ownership, tokens are distributed.
- The platform is powerful enough to process 10,000 transactions per second, so there is virtually no transaction latency. This capability attracts a huge number of partners from all over the world, besides China.
NEO (NEO.X) is trading at $29.19, down by 2.89% from yesterday.
NEM is a blockchain built for enterprise-grade performance. Here are the reasons to invest in NEM now:
- Compared to Bitcoin, NEM has more real-time case uses.
- It is the best option for portfolio expansion. No programming knowledge is needed to use the platform as it is quite user-friendly.
- With cryptographic signatures, NEM is capable of acting as an authentication and notary-type service. It is targeting the retail industry with its blockchain technology. The customers' loyalty points can be converted into money which would reduce the shortcomings such as mistakes in the loyalty points program.
NEM (XEM.X) is trading at $0.16, down by 2.08% from yesterday.
It is one of the popular cryptocurrencies among the crypto traders. XRP offers banks and payment providers a reliable, on-demand option to source liquidity for cross-border payments. XRP consistently handles 1,500 transactions per second and can scale to handle the same throughput as Visa.
We consider Ripple to be a good investment option because of the following reasons:
- It is used in the real world today to enable high-speed and low-cost money transfers worldwide.
- Ripple is going to build more financial market partnerships in the upcoming period, which means its applicability will spread over time.
- xRapid, used for payment providers and other financial institutions that want to minimize liquidity costs, is gradually being adopted in the market. It can complete international settlements in a short span using XRP as a bridge currency.
Ripple (XRP.X) is trading at $0.44, down by 2.71% from yesterday.
It was created by Charlie Lee with the intent to make a lighter version of Bitcoin. Litecoin is a peer-to-peer currency that enables instant, close-to-zero cost payments to anyone. Here are the reasons why it may be a good investment option now:
- A Bitcoin transaction needs 10 minutes to execute, whereas Litecoin takes around 2.5 minutes. The transaction cost for Litecoin is smaller compared to Bitcoin: $0.23 vs. $2.83.
- This digital currency can be bought easily. Because of its popularity, it is traded on Coinbase (the top digital currency wallet and exchange).
- Litecoin was the first crypto asset to be traded on eToro. It's potentially on the upside because of its robust usage, evidenced by the number of active addresses per day.
Litecoin (LTC.X) is trading at $77.47, down by 0.78% from yesterday.
10. Ethereum Classic
Ethereum Classic is the continuation of the original Ethereum blockchain, prior to the July 2016 DAO hack. Here are the reasons why it may be a good investment option now:
- Currently, Ethereum Classic processes 48,000 transactions per day and is soon expected to reach the 100,000 mark, upon being licensed on Coinbase.
- The Ethereum Classic Development Team (ETCDEV) has big plans around IoT, since Ethereum Classic has the most secure blockchain. There is a pretty decent probability that the company will capture a share of the IoT market. ETC's scalability will be enhanced after the inclusion of side chains.
- Its partnership with a South Korean exchange Zeniex will help ETC enter the Asian market per Memorandum of Understanding (MoU) signed between the two companies.
Ethereum Classic (ETC.X) is trading at $15.21, down by 5.26% from yesterday.
11. Binance Coin
Binance is one of the largest and most powerful cryptocurrency exchanges with a market cap of about $1.5 billion USD. Reasons for investing in Binance Coin include:
- Binance processes about 1.5 million orders per second and over $1 Billion per day. The company's native coin BNB has been the best performing coin since July 2017 (its inception time).
- The interface is user-friendly, so investors can enjoy a seamless trading experience.
- The Binance exchange is one of the most secure exchanges in the world, so the chances of a hack or malicious cyber attack are significantly reduced. Also, its stability provides assurance to its users.
Binance Coin (BNB.X) is trading at $13.61, up 1.11% from yesterday.
Over the last 30 days, BNB.X lost 3.43%, which is 24.08 percentage points lower than the 30-day return of Bitcoin (BTC.X).Do you want a daily updated view of cryptocurrency news, price analyses and speculations? Check out Finstead Bites, to get your scoop on cryptocurrencies and make your next bet.
NEO price prediction: strong growth potential?
NEO (NEO.X) is trading at $34.33, up 4% from yesterday. The cryptocurrency is testing a new resistance level at $35.50.
What is NEO's price forecast, i.e., prediction? And what news should investors pay attention to?
As a background, NEO is a blockchain platform and cryptocurrency supporting a scalable network of decentralized applications. It bears resemblance to Ethereum at its core but has its own unique features. Unlike Ethereum, it integrates other cryptocurrencies into its network, which gives it the potential to become a global digital system in today's smart economy.
NEO touts its accessibility as one of the key platform features because common programming languages are accepted on its platform. This lowers entry and adoption barriers since NEO follows an inclusive approach to collaboration. NEO also allows ICOs to release their own cryptocurrency on the underlying blockchain developed by NEO.
NEO has good connections with the Chinese tech giant Alibaba as well as the Chinese government, and it intends to address opportunities in the Chinese market. It established partnerships with Agrello, Bancor, and Coindash. The NEO team is also working with Fadada and Microsoft to create a collaboration on the project named Legal Chain, which purpose is to address shortcomings of legal systems.
NEO allows a huge transaction volume of about 10,000 transactions per second, ensuring that its blockchain is "quantum resistant". This is important because quantum computers that are being developed now could crack any encryption easily.
The most interesting HR application developed on NEO is Moonlight, which is a talent matching platform based on the blockchain technology. It aims to address fraudulent and overly exaggerated resumes.
How will NEO's price change in the near future? Here are the major technical indicators:
- MACD has entered the bullish zone. MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices. MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
- RSI (relative strength indicator) is moving higher after dropping into the oversold territory. RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
- A new major support level is forming at $33.00.
- A new major resistance level is forming at $35.50.