NEO is not the most popular cryptocurrency compared to Bitcoin, Ethereum, Tether, and Ripple. Currently, it's ranked only 26 by CoinMarketCap. Still, NEO's price is not as low as Ripple's or Tether's, for example. This means that the coin can be an inspiring investment, especially if its value sharply increases.
As not many traders are aware of this cryptocurrency, we decided to share more about it with a piece of history and, of course, NEO price predictions that will either confirm NEO's attractiveness or determine its end in the near future.
What Is NEO?
NEO is a blockchain launched by Da Hongfei and Erik Zhang in China, in 2014, as the first Chinese public blockchain. In the beginning, the cryptocurrency was called Antshares but was renamed after three years. There is an exciting fact that NEO is considered Chinese Ethereum as both projects were founded to contribute to a smart economy. The idea behind the project is to create a community of developers and build an infrastructure that will support the network and lower entry barriers worldwide. Additionally, operators of the NEO ecosystem have created the EcoBoost project, which is used to encourage people in designing smart contracts and decentralized apps.
Another interesting fact is that the project has two cryptocurrencies. If you are familiar with cryptocurrencies, you know that a network usually develops one coin to provide its operations. As for NEO, it has two currencies; they are NEO and GAS. They have different purposes. NEO was launched for people to vote for blockchain improvements. GAS allows one to pay fees for transactions done on the NEO network.
Proof of stake principle allows traders to earn GAS using NEO by just keeping NEO in official wallets. If you deposit NEO into your wallet, you get GAS coins. As for other curious details about NEO, 50% of the tokens were sold during the ICO, but the other 50% were shared among the NEO Council. The NEO project was designed as a "rapidly growing and developing" ecosystem. And it follows its aims. As a result, the NEO coin can be an attractive investment. Let's look at the NEO price movements.
NEO Price: What Affects Its Direction
You won't find any NEO predictions that will be 100% accurate. It's impossible as the world changes daily, and the price is not a static thing, but it is subject to many factors. That's why you should know the events that affect the price direction to correct NEO price predictions regarding the current market situation.
General Crypto Trend
The general trend of the cryptocurrency market affects the movements of each coin. To follow the general trend, you can consider Bitcoin price moves as the leading crypto asset. If the medium- and long-term trends are bullish, the NEO price will likely rise and vice versa.
Although China is one of the most progressive countries, its crypto regulation is tough and affects not only the development of Chinese crypto assets but the overall market trend. As a result, we recommend following the crypto news that displays the regulation issues.
As we have mentioned above, the project's team aims for the NEO network's constant progress. Its development attracts the attention not only of traders but large investors and other companies. It leads to a bigger number of agreements as well as the further growth of the blockchain.
How NEO Performed in the Past
Before we consider price outlooks for the future, we should investigate the historical NEO price performance. First, it will show us what factors affected the price in the past. Second, we will be able to measure the price fluctuations. Thus, we will understand how far the NEO price may go.
As we said above, the project was launched in 2014. However, the price of NEO has only been considered since 2017 (if you remember, we said the project was renamed in 2017).
During the ICO in August 2017, the token was sold at $ 0.0320. However, on January 15, 2018, the price had already skyrocketed to $198.20 at Bitfinex. The overall cryptocurrency bullish trend caused a sharp increase. You can imagine how lucky those who participated in the ICO were at that time.
For now, the coin's value isn't that high. The current price is $24.43 (Bitfinex). However, the rate's decline isn't only related to the NEO. Most of the cryptocurrencies have lost value since the beginning of 2018.
Let's take a closer look at the NEO's price in 2020
At the beginning of January 2020, the coin was below $10. In the middle of February, the price doubled. From mid-February to mid-March, the bearish trend pushed the price to $4 (March 13, the lowest point of the year). The next bullish trend started only in July and pushed the cryptocurrency to $25.90 as of September 18. Then, the price moved down again, so the price reached $14. Until the end of the year, the price suffered ups and downs but finished 2020 near $14.
If we compare NEO/USD and BTC/USD's price movements, we will see that the NEO price mostly repeated the major trend depicted by the BTC/USD pair. It's not a surprise that cryptocurrencies usually follow the direction of BTC/USD. Still, we can notice some differences in the pairs' direction.
As we can see, there was a bullish trend of NEO/USD from July till September 2020. At that time, BTC/USD was flat. Bitcoin's uptrend started in October, while NEO/USD suffered a bearish trend until November. Such differences usually happen due to the internal project's events. For example, at the end of July 2020, NEO created a partnership with the Blockchain-based Services Network. BSN is a global infrastructure that works on creating a digital economy by offering a cheap platform for blockchain projects and similar companies. You could notice that the price of NEO was highly volatile during the year; it jumped from $5 to $25. It means that the price may fluctuate significantly during the upcoming years.
How Is NEO Doing Now?
However, the beginning of 2021 seems promising for the coin. The upward trend started on January 1 and led to a new top near $29 on January 19. The rise of the BTC price supports the increase of NEO. As of January 24, the price has corrected downwards. Still, there is no confirmation of the uptrend's end. If the general cryptocurrency trend is bullish and there are no adverse events, the NEO price will have the chance to rise higher.
This year, the Neo3 project will be one of the leading factors that affect the price of NEO. The development of Neo3 was launched in 2018 but hasn't been finished yet.
NEO Price Prediction for 2021
NEO can be considered an exciting investment. The project has been developing on a regular basis. We expect a continuous increase of NEO in value. Still, the bullish trend can't always exist. Thus, we recommend considering different NEO experts’ predictions to have a comprehensive picture of the upcoming price movements.
- Wallet Investor: WalletInvestor.com believes the NEO's price will fluctuate significantly this year. In March, the price may fall to $2. Still, in a month, it will return to $10. However, the uptrend will end soon, and we will see NEO around $3 in June. Until the year-end, the price will move below $10. We have taken the average prices. However, as the price is highly volatile, NEO can cost from $0.000001 to $47 (minimum and maximum prices, respectively) within the year.
- Crypto Ground: Cryptoground.com doesn't provide monthly projections. However, in one year, the coin is expected to be at $12.0197.
- Previsioni Bitcoin: This website sees the NEO skyrocketing to $100 by the end of 2021.
- TradingBeasts.com: This source has one of the most positive outlooks for NEO in 2021. The cryptocurrency is supposed to trade within a range of $21-23 during the year.
NEO Price Prediction for 2022
If you are considering longer-term investments, you need to check long-term projections.
- Wallet Investor: The Wallet Investor platform has rosier predictions for NEO in 2022. Although the price may drop to $2 within the year, the average rate is much higher. At the beginning of the year, the price will move to near $30. However, the second half of the year will be less shiny. Still, the highest price during 2022 may reach $58. It's much higher than in 2021.
- TradingBeasts.com: This site doesn't expect a significant rise in 2022. The average price will stay below $30, although the maximum price may surge slightly above $30. At least, NEO won’t plunge below $20, staying in the range of $20-23.
- Crypto Ground: According to this source, the bullish trend will prevail for the NEO price. The cryptocurrency will be able to surge to $80 by 2023.
- Previsioni Bitcoin: Previsioni Bitcoin thinks the price will fluctuate during the year. Still, it will reach a new high of $151, ending the year near $121.
- Longforecast.com: The platform has more bearish predictions compared to other sources. The price will stay in the range of $14-28.
NEO Price Prediction for 2023-2025
It's unlikely the cryptocurrency will disappear after 2022. Thus, we decided to consider long-term projections that will show you what you should do with the coin in two to four years.
- Wallet Investor: The overall trend for the NEO/USD pair is bullish. The average price grows from year to year. In 2025, it will reach $50. At the same time, the highest price will peak at $149.
- TradingBeasts.com: Here, the outlook is not that positive. Still, the cryptocurrency will cost enough for investing in it. The average price in 2023-2024 will stay around $30. The maximum price won't skyrocket but will reach $45 in 2024. The minimum price won't fall below $23.
- Crypto Ground: The site provides a rosy forecast for NEO. The price will keep rising and will reach $143 by 2025. You should understand that the price will go up and down within these years. Still, the general trend will be bullish.
- Previsioni Bitcoin: This source provides predictions only for 2023. Previsioni Bitcoin believes the price will suffer in 2023, and the bearish trend will prevail. As a result, NEO will cost $102 in December 2023.
NEO Price Forecast for 2030
Such forecasts are the most uncertain and complicated. As you know, the price of NEO is highly volatile. Moreover, plenty of factors affect its direction. Thus, all the projections are approximate and made just to show the future trend. Before using these forecasts, you should check the current price and apply technical and fundamental analysis to make the price prediction more accurate.
According to Coinswith.com, cryptocurrency has excellent potential. The source believes the NEO community will increase significantly; the adoption ratio will rise. There is a chance the coin will be among the top-10 digital currencies. By 2030, the cryptocurrency may skyrocket to new highs. In the end, NEO will cost $400 despite small losses.
Technical Analysis of NEO Price
Although you can use price forecasts of analysts and other traders, it's worth knowing how to predict the price direction using technical analysis. If you have ever done a technical analysis of other securities such as fiat currencies and stocks, you will succeed with cryptocurrency analysis. Here are several steps you should take::
- Find the long-term trend on higher time frames.
- Place support and resistance levels.
- Use such indicators as Awesome Oscillator, RSI, and MACD. They help define the reversal points.
- Try to find candlestick and chart patterns. They will provide additional confirmation for the signals provided by the indicators.
- Remember that the success of the technical analysis depends on the timeframe you use. Short periods will provide you with the price direction for the upcoming hours, not months. Thus, if you are looking for the longer-term price direction, use high time frames such as daily, weekly, and monthly.
NEO Experts: NEO Expert Predictions
It's essential to have NEO price predictions on the coin's price. But what about the thoughts of experts and investors about cryptocurrency.
Brian Evans, Angel Investor, Advisor, Blockchain Evangelist, said: "The big move for NEO is creating an entire smart economy. It has incorporated digital assets, smart contracts, and a digital identity that can be used for real-world applications and become integrated into the real economy. China could (and may) be a candidate for that first real-world application and integration."
Rakesh Upadhyay, a crypto analyst, expects a bullish trend for the NEO price due to the launch of a $100 million EcoBoost fund.
Da Hongfei, NEO Founder and Onchain CEO, in an interview with blockchain.News (in 2020): "The most anticipated milestone is definitely Neo3. We are launching the Neo3 testnet before the end of this year and are planning to release the mainnet in the first quarter of 2021.
As a total revamp of the current NEO blockchain, Neo3 is a robust implementation towards a digital asset platform that will provide high throughput, enhanced stability and security, an optimized smart contract system, and a feature-packed infrastructure set to empower developer adoption and accelerate enterprise-grade blockchain innovations."
NEO - Trade or Invest: Libertex Outlook
Above, you can see the average forecast for the NEO price in the upcoming years. According to the predictions by famous crypto experts, we can say the NEO is an attractive investment. The NEO network is developing daily. This means that the cryptocurrency will rise in value as the growth of the NEO community, an increase in the number of agreements, and implementation of the system worldwide will raise the popularity of the NEO coin.
Still, cryptocurrency is highly volatile. Its price can skyrocket from $2 to $50 within a month. If you consider NEO as a long-term investment, it may lead to losses in the future. The price changes significantly. Thus, if you buy it at a low price now, it doesn't mean that NEO will cost more when you want to sell it.
Another option is to trade NEO via CFD with Libertex. A CFD trading allows you to buy and sell a cryptocurrency anytime you want. Thus, you can potentially succeed no matter if the price goes up or down. Before you enter the real market, Libertex provides a demo account that gives you a chance to trade at the actual market conditions but with fake money and fake gains. Here, you will master your trading strategies.
Why to trade with Libertex?
- access to a demo account free of charge
- technical assistance to the operator 5 days a week, from 8 a.m. till 8 p.m. (Central European Standard Time)
- leverage of up to 1:600 for professional Ñlients
- operate on a platform for any device: Libertex and Metatrader
There were many NEO price predictions. Let's sum up what we have learned from this article.
What Will NEO Be Worth in 2021?
The projections differ. Still, the average price within the year will fluctuate near $30.
Is NEO Worth Investing in 2021?
The bullish potential hasn't ended. Thus, it makes sense to invest now and wait until the price reaches new highs.
Does NEO Have a Future?
The coin has a future for sure. Although the price is highly volatile, moving from highs to lows, the NEO project develops daily, promising to gain more potential in the future.
Can NEO Reach $1,000?
It's unlikely the cryptocurrency will reach $1,000 in the near future.
Who Owns NEO?
During the ICO, 50% of coins were shared between the NEO Council; another portion was distributed to people.
How Much Will NEO be Worth in 5 years?
According to Cryptoground, the price might be at $177 by 2026.
Will NEO Cryptocurrency Recover?
There is a bullish trend for the NEO price now. Thus, there is no point in thinking the cryptocurrency will suffer.
Is NEO Coin Dead?
The NEO project grows daily and isn’t going to disappear anytime soon.