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The NEO cryptocurrency is often called the Chinese or Eastern Ethereum due to the similar functionality of both platforms and the earning opportunities in digital currencies. However, NEO is a worthy competitor to the more promoted Ethereum, which has a long list of dApps and projects on its blockchain.
The project was launched in the fall of 2016 by the Chinese programmer Da Hongfei and is aimed at domestic developers of blockchain projects. NEO cryptocurrency project was warmly received in China and immediately received strong support from local investors.
Now the coin price is not so high. However, against the backdrop of a falling cryptocurrency market, NEO coin remains in 20th place among cryptocurrencies. What determines the future fate of cryptocurrency? Read the new NEO price prediction for 2019 and 2020 from the Changelly Team!
About Neo (NEO) Cryptocurrency
NEO is a convenient system for the safe exchange of information and financial resources between participants in this system, without the risk of losing their tangible assets.
The name was not chosen by chance. NEO is the protagonist of the Matrix trilogy, in which the computer network used people as an energy source. This principle is implemented in NEO cryptocurrency, but instead of people, there are money funds from electronic wallets. The developers introduced high-tech contracts in all sectors of the economy. Developers are actively promoting the platform. They managed to conclude cooperation agreements with existing cryptocurrency platforms and major international corporations such as Microsoft and Alibaba.
NEO produces GAS for holders, which are necessary for network use and a range of services. This would apparently create pressure on-demand as being used for the ecosystem, which is suitable for holders. The more projects NEO uses, the higher the demand for GAS tokens.
Neo Main Features
- The project supports various types of digital assets. Users can register, deliver, and exchange assets.
- The project supports digital certificates that guarantee trust, providing legal protection for assets that are digitized using the NEO platform.
- Using NeoContract, developers can create smart contracts without learning a new programming language and instead use more familiar ones like C#, Java, and Go.
- The superconducting trading mechanism will allow the exchange of digital assets and p2p currencies without the participation of a third party.
Are you interested in the details? Read the full Neo (NEO) Coin Review by Changelly!
Neo (NEO) Price Determining Factors
The NEO forecast for 2019 is also favorably affected by close cooperation with the Chinese authorities, which in the case of the legalization of digital money will allow the creators of the platform to grab the lion’s share of the Chinese market, one of the largest in the world. Moreover, based on NEO NEO, a decentralized operating system Elastos is being developed, which, under favorable circumstances, will become a global center in the world of information processing and storage.
The main competitive advantages of NEO, which may affect the price of this token in 2019, include:
- lower commissions compared to similar blockchain systems, which provides more opportunities for earning;
- high operational efficiency of the platform guarantees speed and convenience of work;
- limited mining: a maximum of 15 million coins can be mined during the year, which protects against inflation;
- support for most popular programming languages that will expand the prospects for the commercial use of the platform, which contributes to faster market advancement;
- world-famous progressive investor partners (Microsoft, Alibaba, etc.) will bring additional support and promotion of the NEO brand;
- The global investment fund NEST FOUND, created on the basis of the platform, increases the investment attractiveness of NEO cryptocurrency.
Neo Price History
The NEO rate is now $9.7800 for 1 coin. Trading range: $9.6700 – $10.0100.
After rebranding, the price of NEO began to grow slowly but steadily. The acceleration was also given to it by the general rise of the cryptocurrency market in 2017. In mid-late January 2018, when all the coins collapsed together at 50, or even 100% of the maximum December values, NEO showed a phenomenal increase – from $73 to $180 and climbed to 7th place in the rating by the level of market capitalization. As experience shows, this is extremely rare in the world of cryptocurrencies.
Da Hongfei explained that the reason for the success is the support of his project by the PRC government. Like Ripple, NEO successfully finds a common language with the government. Despite the sanctions policy pursued by China about the crypto-economics (prohibition of ICOs and cryptocurrency exchanges), the attitude of government officials to NEO has always been exceptional.
“The government likes our advanced technology, likes the way we work. Before cleaning the market, members of the government commission turned to me for advice. Of course, I do not expect that those in power will call me and offer to make NEO the main platform of the entire blockchain infrastructure of China. I suppose this is entirely possible. Why not?”Da Hongfei
Due to the fall in prices for all cryptocurrencies, provoked by rumors that the South Korean government plans to ban cryptocurrency trading, pessimistic sentiments began to be traced in the digital community. Investors have taken the position of observers, trading volumes have become much more modest, analysts are making increasingly skeptical forecasts. Some are even convinced that 2017 was the best in the history of cryptocurrencies, and nothing more and more interesting in this area will happen.
On the other hand, the explosive market growth cannot last forever, and a slight lull is a natural process of any development. The cryptocurrency rate may unexpectedly go up. However, it is difficult to predict even for experienced analysts, and there can’t be any extinction.
At the beginning of 2019, the NEO cryptocurrency broke through all the predicted price ceilings, and its rate exceeded the most optimistic predictions.
On January 30, 2019, the NEO team held the first 2-day developer conference, which was attended by representatives of the cryptocurrency community from around the world: technologists, developers, investors, held and potential holders of this digital token. January DevCon enabled the NEO team to demonstrate to the interested public the benefits and potential of a smart economy based on their cryptocurrency.
Price dynamics over the past year
Neo Price Prediction: Professionals Opinion
NEO’s analytical forecast for the remainder of 2019 and 2020 largely depends on the general background of the cryptocurrency market, as well as on the specific actions of the team. The more actively they promote their project, and the more people join it, the stronger will be its financial, and, as a result, technological base.
Thomas Lee, the analyst, who last year correctly predicted Bitcoin trends, recommends three more coins: ETH, ETC, and NEO. According to Lee, in 2019, Neo could rise to $225 per coin.
Analysts at the APECON Economic Forecasting Agency believe that NEO stagnation will continue for another two years and expect growth no earlier than 2021. Their forecast for December 2019 is $5.13-5.91, which is 38% less than the current figures. They forecast a return to the level of $10 by August 2021, $20 – only by September 2022.
Smartarium platform predicts an incredible rise in NEO prices. Experts say that by 2025 the price of the coin will be $1,275.
Being Crypto website analysts say that by the end of 2019, the price of NEO will reach $120. According to the source, the price will rise to $200 in 2020.
Thanks to the investment of the Chinese government and other enterprises, its price can rise to $200 and even $300 per token. According to cryptoground.com, in 2020, the cost of NEO will be $88, Google calls the price of $77.
Analyst in longforecast.com predicts at least $500 price for one coin by the end of 2020.
In 2018, the value of the cryptocurrency peaked at $180, after which it began to decline. The success of this project will directly depend on two factors: the rights of the Chinese government and overall market recovery. If you see that the cryptocurrency market is starting to recover, then you can buy NEO coins.
The price depends on expanding the circle of partners as well as the listing on popular crypto exchanges. Neo coin seems to be a good long-term investment that can bring good returns in the future.
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.