NEO and OMG Skyrocket After Bear Weekend?
In a recent article by Tech Crunch entitled 'Cryptocurrencies have already recovered from last weekend’s crash' a few interesting points were made that I'd like to address in this article.
According to the article the correction we experienced last weekend may have just been a 'bump in the road' according to the author and the fiat value of cryptocurrencies may just keep climbing at breakneck speed.
When cryptocurrency markets crashed 20% a few days ago, I wrote “the next day or so will tell us if this was a temporary bump in the road or the start of the next major correction.”
Well here we are, a day or so later. And the temporary crash seems to have just been a bump in the road. The entire market cap of cryptocurrencies is up 16% from a low of $135B yesterday to $162B today.
The size of the overall market is absolutely amazing considering during the last bear run in July 2017 it dropped to as low as $65B.
There is one exception – NEO, the Chinese-based ICO/cryptocurrency never recovered and is down 39% over the last week – but this makes sense, because the crash was likely caused by China’s ICO ban, which particularly affects NEO.
According to this article NEO never recovered but as of right now at this very moment it is up almost 50% as news of being added to Bitfinex and getting a USD trading pair is made. This article was written on Thurs Sep. 7th, 2017.
Welcome to the show folks!
What do you guys think will happen in crypto for the rest of this month? Are we on to bigger and better or will it be a return to ICO bans and bear season?
Please leave comments and feedback below.
Thanks for reading!
Source:
Cryptocurrencies have already recovered from last weekend’s crash - Tech Crunch
Wow NEO really goes up!
I expected to NEO to increase, but damn that suddenly upsurged. Suppose I am a bit late to the train now. Thank you for the content OP, voted!
Really cool to see the market recover so quickly. We are probably going to see some amazing things happens this month.
Yeah it's crazy.. I got into some NEO at $32, so decent growth :)
It depends if you're looking at the circulating supply or total supply. By total supply NEO is still valued higher. OMG may overtake tomorrow depending on how impressive the conference with GNT is.
http://cryptocurrencyprices.net/cryptocurrency.php?Crypto=OMG&Comp=NEO
Good post I really like this post, I will wait for the next post
Picked up OMG in the downturn and that's already paid off. Was losing NEO, but didn't dump. I do wish I picked up some of the other Chinese coins. They all are skyrocketing today.
I had a similar issue... Sold NEO prematurely and then the Bitfinex announcement hit sending it skyrocketing. Sometimes its best to spread out your plays a bit to get better coverage on gains.