NEO Price Surpasses $39 as Rumor Mill Hits Its Stride

It certainly appears to be the season to pump altcoins, by the look of things. After we saw a few different cryptocurrencies get their pump on, NEO appears to be the latest in line. More specifically, the NEO price has risen above US$38 over the past few hours, indicating strong growth and speculation for this particular altcoin. Whether or not this trend will continue remains to be determined.

NEO Price Gains Are Quite Spectacular

It is apparent any cryptocurrency that isn’t Bitcoin may experience a major price increase over the next few weeks. During the weekend, we often see the value of various altcoins increase, especially when Bitcoin is struggling. It is pretty interesting how altcoins’ price action seems to culminate in massive pumps, and that certainly holds true for the NEO price. After all, a 35% increase against both USD and BTC is certainly not “normal” whatsoever.

That being said, we’ve seen the NEO price rise by 35% in both markets, and people seem to be liking this unexpected development. NEO has been a pretty strong altcoin over the past few months, and it seems its momentum is far from over. There appears to be some news regarding NEO right now, although it seems most of it is still unconfirmed at this point in time. How the NEO price will evolve over the next few hours and days remains to be seen.

No one can deny the NEO uptrend will spill over to other altcoins in the days to come. As long as Bitcoin doesn’t go on another rampage in the near future, interesting things will continue to happen in the altcoin department. Should this momentum reverse all of a sudden, things will certainly take a turn for the worse as far as altcoins are concerned. At the same time, we’re seeing some altcoins decouple their values from Bitcoin, which is a positive sign.

Thanks to around US$328M worth of 24-hour trading volume, NEO’s present uptrend may be sustained for a few more days. Everything is very difficult to predict when it comes to cryptocurrencies, as new trends emerge and disappear in quick succession virtually every other day. While we’re seeing heavy NEO volume right now, it could dry up by this evening, for all we know. Conversely, it could double or even triple. Alas, there are no guarantees in cryptocurrency.

What is rather remarkable is that Bittrex’s NEO/BTC trading pair is generating most of NEO’s trading volume right now. Bitfinex’s NEO/USD pair is in second place, whereas Binance’s NEO/BTC pair rounds out the top three. A lot of money is circulating from altcoins to Bitcoin and the other way around again. Without much fresh money coming into cryptocurrency, we may see some interesting market changes over the next 24-48 hours.

It is impossible to predict how all of this will play out for NEO in the long run. Solid momentum may push the NEO price above US$40 or even US$42.5 in the coming hours. However, there will be plenty of profit-taking as well, as a lot of people bought this currency below US$30 in recent weeks. It’s an interesting situation to keep an eye on; that much is evident. Assuming the NEO rumors are true, this may even be the beginning of a price rally toward US$50 or more.

  • Cecilia

    I have discovered some seriously scary feats of btc. Involving AI and its rise due to its use or past use in rich pedo/sacrifice victim expenses. Bitconnect was made to leverage others btc amd segwit2 needs more record elimination power so wait for it. The deep state entrenched in our world created Bitcoin with their first AI. I hid during a snob, scum meeting and could not believe their extreme desire to keep blod sources and their need to quell the awakening taking place. I SAW A VERY TALL HEADED WOMAN DICTATING MEN WITH LITTLE RESPECT FOR WOMEN AND THEY CALLED HER majesty. I don’t get this, never researched these things and only go to this super mansion of a great uncle when he changes tvs yearly and asks me to dispose of them. I received two 75 inch 8k oled tvs and 32 flat screens and the smallest was 32 inches for kitchen staff. the second sixe up was 48 and all ranged up to 58. 7 were 3d but this prude wouldnt care, he doesnt even watch tv… i meed these elite and feel they are under some mind control every time. today is first time i dare say it aloud and couldn’t deny it.

    • Jordan

      Write a book, get an editor. I’d be surprised that Satoshi was an AI.

      • Mitchel Parsons

        Agreed. Though not out of the realm of possibility, I doubt that BTC was AI, and SERIOUSLY doubt it was AI created by the “elite oligarchy”. (I am absolutely sure that these people exist, and control everything in society, but that is a different conversation) The reason that I think Satoshi was not a tool of the shadow elite, is because of the mass market disruption this technology can cause. Sure, now that its out of the bag, and they know it wont go back in, they want a share, and if possible, want control, but the DEF did not open the “cat bag” themselves…

        • Jack Sawyer

          Dunno if you noticed, but Bitcoin has been almost exclusively controlled by Chinese Oligarchs for several years now. These 2 Chinese Billionaires controlled over 55% of the hashpower the last time I checked. They invented ASIC miners to make this easier for them.

          Bitcoin is easily the most corrupt, slow, expensive, and obsolete coin in the Crypto-space. If there is a conspiring “elite” out there, they’ve probably held / controlled Bitcoin for years. I remember when I first started trading in Bitcoin back in 2011. The Winkelvoss twins were getting into the game back then as well. Imagine how a many of the rich / powerful people they know got involved? Maybe they didn’t understand it and didn’t get involved at the time. But the one’s that did are currently sitting on some *huuge* stacks of cash.

          Aside from that point, I agree that the **TECHNOLOGY** of Bitcoin can be disruptive. What people fail to realize is that Bitcoin (et al) are open source projects and platforms. If any Government or banking institution (or union of banks) decide that they need to convert their operations to using a distributed ledger all they have to do is Copy and Paste the code from their preferred GitHub repository.

          It would take no effort at all for the Federal Reserve to pick up their favorite coin (code), hire a couple of developers, and now have all the security, confidence, speed, etc. that blockchain technology enjoys.

          -Except Bitcoin-. That one is slow, old, expensive, and corrupted. The dozens of people that are involved in it behind the scene’s have now literally torn it apart.

          The original intent and ethos of BTC died years ago. Now Satoshi is laughing as the very people he was trying to break free of are rushing to his platform and inadvertently destroying it. Like a person trying to put out a house-fire by fanning the flames.

          • Mitchel Parsons

            Oh, I won’t deny they are in now, and manipulating as much as possible, but the op was talking about satoshi himself (theirselves?) being originally in cahoots with the elite. I think the oligarchy has def seen the writing on the walls, and has made moves into the crypto space (specifically btc) but I highly doubt they were the ones to introduce this to the world. That’s all I’m saying. I couldn’t agree with you more though that BTC itself is now serving those satoshi was trying to escape.

    • Jack Sawyer

      Mind posting an image of those TV’s? Also, mind if I buy one off you?…

  • Jack Sawyer

    Even at 55 dollars, this coin is still profoundly undervalued.

    Especially compared to Bitcoin… I sent NEO from an exchange to a wallet and the coins showed up in less than 1 minute. Tried that with BTC last week and it didn’t even show up on the blockchain for 4 hours… Just said “Pending” in my wallet. Then they raped me on the fee’s.

    Aside from this inconvenience, Bitcoin has endured so much internal conflict, corruption by big institutional money, and Oligarch’s out in China that it’s a miracle the thing hasn’t completely crumbled by now. It’s a barely functional blockchain that everyone knows has zero inherent value but they continue to FOMO into it regardless.

    It’s like watching someone’s mind-break. And if you try to ask them if they’re feeling ok or that you’ve noticed something is wrong they go completely nuts on you, like you just stomped on their favorite puppy or something. It’s bizarre.

    Never seen such strong attachment to something which is objectively (vastly) inferior to 99% of it’s technological peers.

    • bystander123

      You’re clearly a short-term trader with short-term thinking. Bitcoin has proven it’s stability in terms of security and development over many years – something which the other coins have yet to do. With the current attention span of “investors” in the market, many of these supposed great new technologies would have disappeared in a few years time – if not caused some severe losses for their holders through poor coding & security (as we’re seeing with Ethereum). At least the devs will be paid a Lamborghini or two for their “efforts”, but they’ll leave a bunch of bag holders in their wake.

      • Jack Sawyer

        I trade now, sure. But I was brought into this space by means of Dread Pirate Roberts circa 2011. The vision we had of Bitcoin back then has been perversed into some unimaginable monster. I’m in distributed ledgers for the long haul, but Bitcoin (long term) should be viewed as a martyr to what this currency could have achieved and has since failed with the introduction of too many developers, asic mining, oligarchical domination, and mass FOMO / herd mentality.

        It’s become a testament of greed.

        The vision of Satoshi has been immolated, likely to the great mirth of the minds who created it.

        It’s become a kafka-esque bastardization of itself. Think about it.

        A currency which literally can never hold any intrinsic value, created to debase our valueless economic reserve system. It grows to compete with this governmental reserve only to be hijacked and controlled by the people it’s supposed to free us from. But the VAST majority of people who buy BTC today don’t care about any of that. They just see a number getting bigger and bigger, and they want in on it.

        It’s an infinite jest…

        We created this knowing that fiat is baseless in value, and made something even more worthless from scratch. And people just CAN’T get enough of it!

        Slow transaction times.

        High fees.

        Controlled and centralized exclusively by Chinese oligarchs who just become richer off of these rediculous transaction fees.

        Bitcoin serves as an excellent closed circuit experiment and proof of concept. It works. And we understand the powers which exist that will destroy it.

        Bitcoin is far beyond the event horizon. It’s time to adopt a superior technology en masse or allow this entire industry to crumble into a failed dream.

        And, no. I don’t think we should support any form of “bitcoin” or its perverse children. The name itself should be demonized if we want this movement to survive.

        We’re on course with an implosion not seen since the Dutch realized that Tulips are just flowers… (Unless we upgrade from Bitcoin NOW).

  • Crypto B

    NEO supports faster development and deployment of smart contracts and projects, as it enables developers to build on programming languages already familiar with them.