NEO - Coins Worth Taking Risks On #1 - Places To Diversify BTC At This All-Time High
With the Bitcoin price on a tear, and some degree of manipulation happening in the markets, it's probably a wiser time than usual to plan ahead to dodge bullets. If you're like me, you are wondering, "Where should I diversify a little Bitcoin at this all-time-high?"
You know, other than Steem...or SBD, which apparently touched as low as .73 overnight...
Since Bitcoin is so high, many alt-coins are seeing bargains in their Bitcoin price that haven't been seen in some time. Not only that, but many alt-coins are trailing Bitcoin in this price run-up, which makes their risk-reward ratios for further gain even more tempting.
Unfortunately, we won't be talking about one of those bargains today... because the jig is already up on this one.
Neo is being described as "the Chinese Ethereum", and that alone is probably enough to explain the explosive growth it has seen in the last few weeks. As you can see, it is well established, being the oldest blockchain platform originating from China.
Recently, it has caught a lot of people's attention after rebranding from AntShares. It has nearly tripled over the last week, placing it into the 7th position on CoinMarketCap.
I neglected to purchase this coin when it was known as "AntShares", as I didn't have verification at an exchange carrying it at the time, and I didn't like the name. Though the former was a practical problem, the latter was not a good reason. I missed the boat on this one.
As a result, this is the #1 coin I want to own, but do not. I am really antsy to get at least a few of these into cold storage somewhere for the long haul.
Edit: Neo apparently doesn't have a good wallet option for this yet, but there is overwhelming demand for support for it on the Ledger Nano S "slack" - it looks likely it will be supported soon. This goes on for pages and pages:
Long-term risk level: Low. This coin looks very promising.
Short-term risk level: High. This coin has leapt up in price nearly 40x recently. A violent move in either direction is not merely possible but perhaps probable.
Suggestion: Set limit-buy orders well below market at prices you are comfortable with, then forget them until filled.
Here are the price points where I have set limit-buy orders for Neo. Feel free to mimic my estimates on good entry point bargains.
Please let us know in the comments if you have any questions, concerns, or ideas about properly pricing this coin!
Note: The above does not constitute investment advice, and I am not an investment adviser. Do your own due diligence. My returns may not be worth mimicking, so choose to follow my entry points at your own risk. I do not advise trading, but holding coins you believe in off-exchange.
Sources: Neo.org, Coinmarketcap, Cointelegraph, Wikipedia, Gamespot
Copyright: Neo.org, The Matrix
Hated the name Antshares too... Neo is cool though:)
Not only did I hate that name, I hated that little blue guy they had for the logo. I don't know why, it was irrational, but it really bugged me.
Edit: There's the little f'er:
Same here, I disliked their logo and name so much that in retrospect I missed out on buying cheap coins.
You and me both.
and
Not to be accused of stereotyping I'll preface this by saying I've read both The Asian Mind Game & Thick Face, Black Heart by Chin-ning Chu.
Since the Chinese have the reputation of understanding & thinking in long term goals of even 50-100 years, I have to wonder if there's a strategic effort underway in China to gobble up as much Bitcoin as possible through mining (if I'm not mistaken, Chinese miners dominate BTC) and be preparing an alternative in the form of NEO for, say 5-10-25 years down the road?
If there is, I can't see it being too bad of an idea having a few of these socked away. Once it gets added to the Ledger hardware wallet, you can safely store them long-term.
It never hurts to have some eggs stored away in another basket somewhere.
Do you think that NEO can overtake Ethereum price in the coming weeks?
Weeks, no, I'd say that isn't plausible. It doesn't have the widespread support. Having said that, I'd rather invest in Neo at the moment than Ethereum, if I wasn't a user.
On a much longer time-scale, it's certainly a possibility.
Thanks for sharing your thought. I believe that you are right, NEO has huge potential and is better than Ethereum. I think that next year NEO will overtake Ethereum if it continues to grow on this trends.
Why do you say bitcoin price are manipulating, do we have bitcoin contract promise for future delivery?
Most curious why chinesse eagerly creating their own coin, why other strong asian economy state like japan and korea do not /have not do the same?
It's a good question. Both Korea and Japan would benefit from creating their own blockchains and one would have thought they'd be early adopters.
The Chinese have really taken to blockchain, but the Koreans are almost as eager. I'd buy some "Koretheruem".
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