GAS Analysis: Short Term Gains Coming!

GAS, the tokenized equivalent of the NEO share, just made its debut recently, and has seen large gains since its release. In the past few days, however, GAS has dropped over 30% due to decreased demand for altcurrencies as people jump ship to stock up on Bitcoin before the upcoming fork. While GAS has found temporary stability at around ~25% down from its recent high, possible slides down are possible; however, here's the case why GAS has a bright future:

Technically, GAS has fallen past a normal head-and-shoulders pattern, indicating an impending retrace back up to at least shoulder heights. The fork has caused GAS to fall way beyond its expected support, and it should return back within the next few weeks, allowing for 50% gains if invested in now!

As for the utility side, GAS is so new, that most people still don't understand what it's used for. When transactions occur on the NEO network, GAS is consumed to prioritize certain transactions. This GAS is redistributed amongst all NEO holders during every block. Right now, most of GAS comes from predefined PoS staking, as the NEO network is not active enough currently to make staking worthwhile. However, GAS serves another crucial purpose. When ICOs using the NEO platform begin to pop up, people will need GAS tokens to participate in the ICOs. In other words, GAS will become a de facto BTC/ETH. This will force yet more people to want to use it, thus causing its demand to continue upwards. It's also important to remember that there is a max supply of only 11.6 million GAS coins, of which over 3/4 have already been distributed. That's half the max supply of Bitcoin! As NEO gains relevance and GAS matures, GAS tokens will become a critical part of the ecosystem and will compete with BTC, ETH, LTC, etc. as a top CC! Happy investing!