NEO dead?

in bitcoin •  7 years ago 


NEO went down almost 50% of its value before starting consolidation which maid me think it had set new top and bottom. However, I just read this https://www.bloomberg.com/news/articles/2017-09-04/china-central-bank-says-initial-coin-offerings-are-illegal.
And so, I believe the price could go much lower!

Is NEO dead?

Well, we have to remeber few facts to give a conclusion:

  1. Crypto space is one of the most competitive and challanging area to succeed.
  2. The space is growing faster than anything else.
  3. Every news is taken really seriously by investor making it really volatile!
  4. LOTS of uniformed investor around! making crypto probably the most psycological investment.
  5. If you are not the most spoken project in crypto you are likely going to be forgotten!

Keeping that in mind let's speak about NEO. I do like the tech and i don't think it was only an ICO platform. However, people in crypto needs financial result to believe in a project and this would be reached by allowing ICO and increse, as a concequence the amount of project using the platform.

With this news china is literally killing the chance of NEO to grow which will probabily turn in a massive lost of faith.
As a result other projects will keep growing and new project will come out probably as good or better than NEO ending up killing it.
I'm not calling NEO death but I think its future is not as bright as it was 1 week ago. Now, they have a massive challange and a masssive challange in crypto could easily be an impossible one!

So for the moment i'm out of NEO untill promising news ;)

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