It’s evident that there is a lot of interesting things occurring in the crypto world right now. While popular cryptocurrencies such as Bitcoin and Ethereum are having issues in gaining traction, altcoins are starting to show signs of improvement.
NEO‘s price is of great interest to a multitude of crypto investors and enthusiasts right now, as it has gone above $80 once again. This month has been a wild ride for NEO’s price, but it the altcoin seems to be making turns in the right direction once again.
Specifically, NEO’s price surpassed $80 within the previous 2 weeks. People assumed that this would be the sign of a huge uptrend. However, NEO’s price turned out different than what was expected. For instance, it’s price began to lose value and dropped below $59.22 at one point.
Remember, each time there is dip within the crypto market, it’s a sign of a new buy opportunity. As of now, it seems that NEO’s price is returning back to its all-time high of $100 unless the market crashes again.
With NEO’s current price uptrend, the most important question is if it can reach $100 again. From a logical approach, it can take either a few days or weeks for this to occur. The cryptomarkets is in a volatile state right now, and it wouldn’t take much to bring its price back down to $70. It’s hard to tell how this altcoin will evolve as time progresses, but for now, NEO is showing some good signs of development.
NEO’s $130,302,000 24-hour trading volume hasn’t impressed altcoin speculators. On the other hand, we’ve noticed that its market thrives despite its lower trading volume throughout the past few months. Because of this, we believe that its price drop won’t be a large issue.
Most speculators and investors don’t look past the 5 most popular cryptocurrencies (Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin) that’s ranked in CoinMarketCap. Since this altcoin is ranked in 6th place, we can see why NEO’s trading volume is lower.
Due to NEO’s price growth, we can see an altcoin that surpasses Binance in trading volume. While Binance still has claimed the 2nd and 3rd spot due to its USDT and BTC pairs, Upbit is the leading exchange at this current date.
It’s going to be interesting to see how South Korea respond’s to NEO’s growth, considering that it’s a China-oriented cryptocurrency project. It’s one of the main aspects that you’ll have to keep in mind when viewing the overall direction and purpose of this altcoin.
For the time being, NEO’s price is close to hitting $95 and perhaps even slightly more. Its price value will depend on how Bitcoin’s market evolves, as NEO is showing some impressive gains in its NEO/BTC ratio as of now. If NEO can sustain this trend, we’ll see more interesting happening to the altcoin in the near future. Remember, to take profits if the opportunity arises because the market is highly volatile and all good things eventually come to an end.
Disclaimer: Our information is used to educate our readers. Understand that investing in cryptocurrency can be risky and should be done at your own discretion.