NEO will drop significantly on upcoming news from China
This is a coin that I think has AMAZING potential, and one that I hold, so this is not a FUD attempt on my part.
This is also simply my opinion and should not be mistaken for expert advice.
We recently had a short glimpse of the market's reaction to negative news on Chinese exchanges. Unfortunately it hit NEO fairly hard, and it's my opinion that the market is currently being artificially held at it's current level by deep-pocketed investors who are unloading their coins. I think that due to a lack of actual buyers, this will continue right up until the news breaks and the market dives significantly.
Long term optimists should tread lightly and sell what you're comfortable selling while the price is being held high, and buy back in after the drop.
This strategy could easily backfire, as good news could cause NEO to climb to it's previous higher levels.
LONG TERM
Long-term outlook is actually VERY good in my opinion. I believe that it is not the intent of Chinese regulators to eliminate markets entirely. I think that either they will form a state-run Crypto Exchange, or they will require licensing for exchanges and fees and taxes will be added to transactions.
NEO has always been compliant with regulators, and recent restrictions on exchanges and ICO's could in fact be part of a bigger plan to establish NEO as the region's dominant blockchain and push out ICOs that are out of the juristiction of the Chinese government. This may sound overly optimistic, but the cooperative nature of NEO stands in stark contrast to the rhetoric of some other blockchains. Not only does the Chinese government gain some control by this move, officials stand to benefit GREATLY as individuals by buying the NEO from the fallout of this news before people realize it's long term potential.
This is also simply my opinion and should not be mistaken for expert advice.
We recently had a short glimpse of the market's reaction to negative news on Chinese exchanges. Unfortunately it hit NEO fairly hard, and it's my opinion that the market is currently being artificially held at it's current level by deep-pocketed investors who are unloading their coins. I think that due to a lack of actual buyers, this will continue right up until the news breaks and the market dives significantly.
Long term optimists should tread lightly and sell what you're comfortable selling while the price is being held high, and buy back in after the drop.
This strategy could easily backfire, as good news could cause NEO to climb to it's previous higher levels.
LONG TERM
Long-term outlook is actually VERY good in my opinion. I believe that it is not the intent of Chinese regulators to eliminate markets entirely. I think that either they will form a state-run Crypto Exchange, or they will require licensing for exchanges and fees and taxes will be added to transactions.
NEO has always been compliant with regulators, and recent restrictions on exchanges and ICO's could in fact be part of a bigger plan to establish NEO as the region's dominant blockchain and push out ICOs that are out of the juristiction of the Chinese government. This may sound overly optimistic, but the cooperative nature of NEO stands in stark contrast to the rhetoric of some other blockchains. Not only does the Chinese government gain some control by this move, officials stand to benefit GREATLY as individuals by buying the NEO from the fallout of this news before people realize it's long term potential.