NEO is a dApp platform similar to Ethereum, allowing developers to create digital assets and smart contracts. NEO is one of the two cryptocurrencies of the NEO blockchain, the other being GAS. But in today’s article, we will only focus on the NEO crypto and its price evolution for this year.
We will be covering several analysis and opinions that can help us build a plausible NEO price prediction for 2019.
NEO Price Development
NEO has a current trading price of $11.19 US, almost 20 times less than its all-time high of $187 US which was reached in January 2018. Since July 2018, there have been very few signs of increase here and there, the coin’s price slowly following a descending trajectory. Since November 2018, the price fell out of the double digit category until recent, practically losing all the gains it amassed almost a year ago.
A very minor positive development can be noted though, as in the past 24 hours the price has seen an increase of almost 2%. While, not all that impressive, it does show that the coin has some chance at a recovery.
NEO Price Prediction 2019
The general sentiment regarding the coin’s rebound is not too favorable. If the current trend will remain unchanged, the NEO price will continue to sustain losses. Experts estimate that the price could fall below the 5-dollar mark by the middle of 2019, which would be followed by more depreciations. This NEO price prediction is not optimistic, to say the least.
It is also estimated that in June the price might drop to $1.3, which poses significant losses for short term investors. By the end of 2019, the price could go even lower and reach $1.051.
The price of NEO, like in the case of most altcoins on the market, is heavily influenced and dependent on how bitcoin performs. If bitcoin experiences another surge in value, then NEO will most likely also follow this trend. But seeing as Bitcoin is not expected to see another bull run too soon, there are not many changes predicted for NEO this year. 2019 is anticipated to bring a few minor drops and increases here and there, but overall, no major shifts in prices.
The price development will also depend on the success of its project, which in turn relies on several factors:
- Its affiliation with the Chinese government
- The increase in interested institutional investors in NEO
- Technical developments that would put NEO at an advantage when compared with accurate Ethereum
- NEO’s focus on digitizing assets rather that digitizing currency
Contradictory Price Predictions
There are reportedly many NEO price predictions for 2019, but not all of them seem to be on the same page. The first prediction is issued by Kryptowavetrader, which believes that NEO will reach $12. His theory is based on the belief that NEO is clearly following Ethereum’s price pattern. Considering that NEO is already at the price of $11.12 US , we can say that we’re almost there.
The second NEO price prediction was made by Coinkilavuz which would see NEO dropping down to $3.74. His price prediction is based on the fact that there are many bearish speculations circulating in the market right now. He mentions that the regress to $3.7 will only occur if the NEO coin does not manage to pass the $21.2 mark.
But most analysts and traders think that the shorting to $3.7 is too improbable. At the same time, conservative forecasts do not see NEO reaching the $20 mark.
“The double bottom play” prediction of BitcoinCompass is expecting NEO to either fall to $17.7 or to increase towards $19.5 US, but no one can say how reliable this source is.
It is worth noting that there are many other conflicting studies and speculations regarding NEO, with some believing the coin will reach the $25 US mark, while some think that the coin will go below $5 US.
Expert NEO Predictions
NEO is regarded as a cryptocurrency with a lot of potential, which makes it a viable investment for long term traders when compared to other cryptocurrencies. But based on this alone, it is quite difficult to have an accurate NEO price prediction.
We will be looking at some of the price forecast made by crypto experts and analysis sites and see what they believe the future has in store for NEO this year:
1. Being Crypto
The Being Crypto website predicts that NEO might hit $120 US by 2019’s end, $200 USD in 2020 and, in five years, the crypto could appreciate as much as $450 US.
2. Smartereum
Smartereum’s 5-year prediction sees NEO reaching $1275 US, which implies that NEO will increase at a rate of 1.5x on an average on a yearly basis.
3. Long Forecast
The NEO price prediction given by Long Forecast states that NEO reaches a value of $11.92 these months, but the end of the year will see NEO depreciating to $4.
4. Crypto Ground
A very optimistic prediction was made by Crypto Ground, who is expecting NEO to rise to $195 US during the next 5 years, which would mean an increase of 40 times in its current price.
5. Coin Fan
CoinFan made an optimist bullish prediction in which NEO is expected to grow in 2019 to a $200 US maximum level and, by 2020, it might see another increase of $783 US.
6. CoinSwitch
CoinSwitch based its prediction on the current and future developments of the NEO project. “According to NEO price prediction of 2019, it might plunge upwards to reach the $200 mark by the end of 2019.”
7. Walletinvestor.com
Walletinvestor.com, a website which provides technical analysis, predicted, based on its data, that NEO may reach $2.9 by the end of the year.
8. CoinPredictor.io
Coinpredictor.io saw NEO’s price reaching the $10 mark, and we can already said that they were right – more than that, NEO surpassed that value.
Verdict
In spite of all the data and analysis we have available, there is no certain way of knowing exactly what price will NEO have in the future. Crypto markets can change trends in a blink of an eye and any of these predictions can become a reality. However, as we mentioned before, NEO will heavily depend on how Bitcoin will perform.
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