NEO Price Prediction: Invest or Skip?

Currently, it's ranked only 26th by CoinMarketCap in terms of market capitalisation. NEO's price isn't as low as Ripple's or Tether's, for example, which means that the coin can be an inspiring investment, especially if its value sharply increases.

Not many traders are aware of this cryptocurrency, so we decided to share its history and price predictions that will either confirm NEO's attractiveness or proclaim its end.

What Is NEO? 

NEO is a blockchain launched by Da Hongfei and Erik Zhang in China, in 2014, as the first Chinese public blockchain. In the beginning, the cryptocurrency was called Antshares but was renamed after three years.

Fun fact: NEO is considered the Chinese Ethereum as both projects were founded to contribute to a smart economy. The idea behind the project is to create a community of developers and build an infrastructure that will support the network and lower entry barriers worldwide. Additionally, operators of the NEO ecosystem have created the EcoBoost project to encourage people in designing smart contracts and decentralised apps.

If you're familiar with cryptocurrencies, you know that a network usually develops one coin to provide its operations. NEO has two currencies: NEO and GAS, and they serve different purposes. NEO was launched for people to vote for blockchain improvements. On the other hand, GAS allows one to pay fees for transactions done on the NEO network.

The proof-of-stake principle allows traders to earn GAS using NEO by just keeping NEO in official wallets. If you deposit NEO into your wallet, you get GAS coins.

During NEO's ICO, 50% of the tokens were sold, while the other 50% were shared among the NEO Council.

The NEO project was designed as a "rapidly growing and developing" ecosystem. And it follows its aims. As a result, the NEO coin can be an attractive investment. Let's look at NEO's price movements.

NEO Price: What Affects Its Direction?

You won't find any NEO predictions that are 100% accurate. That's impossible to do as the world changes daily, and the price is subject to many factors. That's why you should know the events that affect the price direction to correct NEO price predictions relative to the current market situation.

General Crypto Trend 

The general trend of the cryptocurrency market affects the movements of each coin. To follow it, consider Bitcoin price moves as the leading crypto asset. If the medium- and long-term trends are bullish, NEO's price will likely rise, and vice versa. 

Regulation

Although China is one of the most progressive countries, its crypto regulation is tough and affects both the development of Chinese crypto assets and the overall market trend. As a result, we recommend following crypto news that covers regulation issues. 

Developments

The project's team aims to constantly advance the NEO network. Its development attracts the attention of traders, large investors and companies, leading to a bigger number of agreements and further blockchain growth.

How NEO Performed in the Past 

Before considering price outlooks, we should investigate NEO's historical performance. First, it'll show us what factors affected the price in the past. Second, we'll be able to measure the price fluctuations to understand how far NEO may go.

Though the project was launched in 2014, NEO's price has only been considered since 2017 because that's when it was renamed. 

During the ICO in August 2017, the token was sold at $0.0320. However, on 15 January 2018, the price had already skyrocketed to $198.20 on Bitfinex. The overall cryptocurrency bullish trend caused a sharp increase. Imagine how lucky those who participated in the ICO were at that time!

At the beginning of January 2020, the coin was below $10. In the middle of February, the price doubled. From mid-February to mid-March, the bearish trend pushed the price to $4 (13 March marked the year's lowest point).

The next bullish trend started only in July and pushed the cryptocurrency to $25.90 as of 18 September. Then, the price moved down again and reached $14. Until the end of the year, it suffered ups and downs but finished 2020 near $14.

If we compare NEO/USD and BTC/USD's price movements, we'll see that NEO's price mostly repeats the major trend exhibited by the BTC/USD pair. It's not a surprise that cryptocurrencies usually follow the direction of BTC/USD, but we can still notice some differences in the pairs' directions.

There was a bullish trend of NEO/USD from July to September 2020. At that time, BTC/USD was flat. Bitcoin's uptrend started in October, while NEO/USD suffered a bearish trend until November.

You could notice that the price of NEO was highly volatile during the year; it jumped from $5 to $25, meaning that it may fluctuate significantly in upcoming years.

How Is NEO Doing Now? 

NEO started 2021 at a humble $14 price point, but in February, it entered a pretty impressive ascent all the way to $54.61. From that point, the value continued growth until $118.06 on 18 April. A sell-off dumped the price before it climbed back to $122.68 on 6 May.

Over the course of summer, NEO declined in value. It was no longer trading over $100, and since mid-June, it hasn't been able to reach the $50 mark. NEO had briefly made it to $52.48 on 11 September 2021, but it finished the year at only around $28. The beginning of 2022 continued the downtrend, with January closing at $19.72. The coin may recover, but it would take some big news from the project and an influx of trading volume. 

NEO Price Prediction for 2022 

If you're considering longer-term investments, check these forecasts. 

Wallet Investor 

The Wallet Investor platform has pessimistic NEO price predictions for some periods in 2022, expecting a price drop in the middle of the year to around $19.00. At some points, the coin may trade below $15.00. There might be some turbulence in the summer with subsequent recovery.

TradingBeasts

This website doesn't expect a significant rise in 2022. The average price will stay just slightly below $25.00, although it may surge slightly above $30.00 at some points. By the end of the year, NEO will plunge to an average price of $24.51.

CryptoGround

According to this source, the bullish trend is very likely. The cryptocurrency is expected to surge to $46.18 and more by the end of 2022.

Previsioni Bitcoin

Previsioni Bitcoin thinks the price will fluctuate during the year. Still, it will reach a new high of almost $52.51, ending the year way lower at $33.83.

Long Forecast

The platform has a more modest prediction compared to other sources. The price will generally stay in the tight range of $25.00-$33.00.

NEO Price Prediction for 2023-2025

It's unlikely the cryptocurrency will disappear after 2022. That's why we decided to consider long-term projections that will show you what you should do with the coin in two to four years.

Wallet Investor

The overall trend for the NEO/USD pair is bullish, with the price reaching new heights each year. In 2025, it might even reach an average of over $100.00. That said, the highest price might be over $150.00.

TradingBeasts

Here, the outlook isn't as positive as other predictions. Still, the cryptocurrency is expected to pull off a long-term uptrend. According to this prediction, the average price will grow from $25.00 in 2023 to over $40.00 in 2024, the maximum price will reach $54.00 in 2024, and the minimum price won't fall below $29.00.

CryptoGround

The website provides a rosy forecast for NEO. The price will keep rising, reaching $116.73 by the end of 2025. You should understand that the price will go up and down within these years, keeping the bullish trend.

Previsioni Bitcoin

This source provides predictions only for 2023. Previsioni Bitcoin believes the price will take a hit mid-year of 2023, dropping from $37.30 to $28.64. The value will pick up but only recover to around $28.64.

Long Forecast

This platform has a unique outlook for 2023-2025, where the price moves up quite significantly and then back down.

NEO Price Forecast for 2030 

Such forecasts are the most uncertain and complicated because the price of NEO is highly volatile. As plenty of factors affect its direction, all the projections are approximate and made just to show the future trend. Before using these forecasts, you should check the current price and apply technical and fundamental analysis.

According to Coin Price Forecast, the cryptocurrency has excellent potential. Many also believe the NEO community will increase significantly, as will its adoption ratio. There's a chance the coin will be among the top 10 digital currencies. 

Technical Analysis of NEO Price

Although you can use price forecasts of analysts and other traders, it's worth knowing how to predict the price direction using technical analysis.

If you've ever done technical analysis of other securities such as fiat currencies and stocks, you'll succeed with cryptocurrency analysis. Here are several steps you should take:

• Find the long-term trend on higher time frames.
• Place support and resistance levels.
• Use such indicators as Awesome Oscillator, RSI and MACD. They help define the reversal points.
• Find candlestick and chart patterns. They'll provide additional confirmation for the signals given by the indicators.
• Remember that the success of technical analysis depends on the timeframe you use. Short periods will provide you with the price direction for the upcoming hours, not months. If you're looking for the longer-term price direction, use daily, weekly and monthly timeframes.

NEO Experts: NEO Expert Predictions 

It's essential to have NEO price predictions on the coin's price. But what about the thoughts of experts and investors about cryptocurrency?

Brian Evans, Angel Investor, Advisor, Blockchain Evangelist, said: "The big move for NEO is creating an entire smart economy. It has incorporated digital assets, smart contracts and a digital identity that can be used for real-world applications and become integrated into the real economy. China could (and may) be a candidate for that first real-world application and integration".

Rakesh Upadhyay, a crypto analyst, expects a bullish trend for NEO's price due to a $100 million EcoBoost fund launch.

Da Hongfei, NEO Founder and Onchain CEO, in an interview with Blockchain.News: "The most anticipated milestone is definitely Neo3".

As a total revamp of the current NEO blockchain, Neo3 is a robust implementation towards a digital asset platform that will provide high throughput, enhanced stability and security, an optimised smart contract system, and a feature-packed infrastructure set to empower developer adoption and accelerate enterprise-grade blockchain innovations".

NEO - Trade or Invest: Libertex's Outlook

Above, you can see the average forecast for NEO's price in the upcoming years.

According to the NEO price predictions by famous crypto experts, this is an attractive investment. The NEO network is developing daily, meaning that the cryptocurrency will rise in value as the growth of the NEO community, an increase in the number of agreements and implementation of the system worldwide will raise its popularity.

Still, cryptocurrency is highly volatile. Its price can skyrocket from $2 to $50 within a month. If you consider NEO as a long-term investment, it may lead to losses in the future. The price changes significantly. So, if you buy it at a low price now, it doesn't mean that NEO will cost more when you want to sell it.

Another option is to trade NEO via CFD with Libertex. A CFD trading allows you to buy and sell a cryptocurrency anytime you want. You can potentially succeed no matter if the price goes up or down. Before you enter the real market, Libertex provides a demo account that gives you a chance to trade at the actual market conditions but with fake money and fake gains. Here, you'll master your trading strategies.

Let's sum up what you've learned from this article.