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RE: China Might Suspend ICOs and NEO is dropping like a rock!
Wow thanks for the heads up! I hold (held) a little bit of NEO until just now but I moved those funds to another more stable currency.
I wonder how low it will go?
Idiots. Banning ICO's doesn't mean there won't be tokens on NEO. China just wants to regulate that out-of-control ICO business, and I totally agree they should!! FUDders and whales got good coins cheap today.
I specifically said in the post "I suppose we'll see how things progress, but this could either be the start of a big NEO crash, or a really nice buying opportunity if things don't end up being too serious."
No one knows if this is the start of a long fall for NEO, or an easy way to profit from an 11% pullback. Time will tell, but you can't argue it dropped 28% in an hour, then recovered but is still down around 10%
For sure, the fud in this market is REAL, and this was in no way good news... however, they shouldn't have this kind of impact if most people actually understood what was going on.
Looks like a dead cat bounce to me (yesterday). Still kinda early to say but that sure looks like a downward channel forming on the hourly chart. Tested $30 this morning and looks like it'll do it again soon.