In this post, we will present our own and market’s opinion on NEO future while discussing NEO price forecast for 2019 and beyond.
Since this year is almost up, NEO price prediction 2020 is way more interesting, so we made sure to include that section as well, just make sure to scroll all the way to the end.
Now, let’s get to it.
Before we delve deep into the NEO price prediction and answer questions if NEO is a good investment or not, why will NEO succeed or fail or while will NEO price rise or drop, let’s quickly do a brief on NEO and its to date history.
NEO is a next generation of blockchain, a smart economy platform that has had a monumental rise to fame and most know NEO for its explosive growth. You have probably heard a shabby phrase describing NEO as the “Chinese Ethereum”, pointing out similarities between the two platforms, mostly their ability to create, run and store smart contract code and decentralized apps or dApps..
NEO is a blockchain platform and cryptocurrency, which is designed to digitize assets using smart contracts, aiming to bring blockchain to the masses. NEO essentially plans to recreate real world economy into a digital, smart economy where all assets are now digital assets you can easily move, transfer, split into tiny pieces etc.
Just like how Ether is used on the Ethereum network, GAS is used on the NEO network.
By holding the NEO coin in your wallet, you earn GAS which can be used to make transactions on NEO’s blockchain.
Some of the key features of NEO are:
- Unlike most other cryptocurrencies, the NEO coin cannot be divided. So, you cannot make a transfer like 0.5 NEO or 0.11 NEO. NEO can be considered similar to the stocks of any company, which cannot be divided.
- it is allegedly in good graces of Chinese governments although there was never official support nor denouncement of NEO by the Chinese authorities.
- While Ethereum allows the programmers to code only in one language — Solidity, Neo allows developers to code smart contracts using C++, C#, Go, Java, and other common programming languages.
You can read more on NEO here. Also, if you own some NEO, here is a list of best wallets you can use to store those coins.
NEO is currently hovering around the spot 20 in the cryptocurrency market, ranks are tracked and measured by respective market cap of the coins. Price of NEO has suffered huge losses in 2018 and 2019, just like the whole market itself, although NEO recorded a nice surge in November, upon the news that Chinese government plans to support and invest in blockchain technology in the future.
Neo (NEO) Roadmap 2019
So what is the community excited about for 2019?
It boiled down to 3-4 major developments around the ecosystem.
Leading the way is the decentralization.
Decentralization is also an important one, since it is where the value in this industry is derived from.
NEO recently released a publication on its official blog detailing how they plan to make the NEO network decentralized in the upcoming year.
At present, the NEO MainNet has seven consensus nodes. Netherlands-based telecommunications company, KPN, and open-source community group, City of Zion, host a node each. The other five nodes are currently hosted by the NEO Foundation in various regions around the world.
NEO want to break this centralized consensus and have decided to release a GitHub repository titled “How to become NEO consensus node”. The repository was updated to a 1.3 version which includes new information on the rules and election schedules of upcoming consensus node selection cycles.
Another frequently cited happening is Neo 3.0. NEO 3.0 will be an entirely new version of the NEO platform, built for large scale enterprise use cases. It will provide higher TPS and stability, expanded APIs for smart contracts, optimized economic and pricing models, and much more. Most importantly, we will entirely redesign NEO’s core modules.
Integration of NEX and nOS is also eagerly awaited in the NEO camp. nOS aims to encourage consumer level adoption of NEO dApps by providing a safer and easier way to use applications. It is a virtual operating system allowing you to connect to the Blockchain Powered Open Internet.
NEX, also known as Neon Exchange, is a platform for payment services and decentralized crypto trade. NEX aims to combine the performance of centralized exchanges with the trust and security features of decentralized exchanges.
Our NEO Token Price Prediction for 2019
NEO, as the rest of the market, is tied at the hip of bitcoin’s price action. If bitcoin embarks on another bull run, NEO can hope for one as well. Since that is very unlikely, don’t expect much to change for NEO price-wise in this year. So 2019 will be a year of boring sideways action with minor bitcoin ignited jumps and slumps.
NEO-BTC price correlation
Correlation is measured on a scale from -1 to 1. Values above 0 shows the degree to which altcoin is moving in the same direction as BTC prices (either up or down in tandem), and values below 0 shows the degree to which altcoin moves in the opposite direction of BTC prices (so when BTC goes down, altcoin goes up, or vice versa). Values around 0 shows that when BTC price moves, altcoins stays steady, or alternatively that when altcoin moves up or down that the BTC price is staying steady.
NEO has had a correlation coefficient of 0.90+ for the most of its market life, as shown on the image below – source.
Overall, the price change of any altcoin token is explained by the dynamics of the bitcoin-influenced market. However, there are also fundamental reasons for the individual token rise and fall in price, which can be pinned down to a big tech upgrade or more often, big partnership.
The majority of projects will fail — some startups are created just to gather funds and disappear, some would not handle the competition, but most are just ideas that look good on paper, but in reality, are useless for the market.
Vitalik Buterin, co-founder of Ethereum said:
“There are some good ideas, there are a lot of very bad ideas, and there are a lot of very, very bad ideas, and quite a few scams as well”
Neo Coin (NEO) Future Outlook
However, not all projects have the same chance of failing (risk), nor do they have the same potential upside (reward).
As a result of ICO teams’ incompetence and lack of integrity, fueled by basic human instinct that is greed and crypto investors’ naivety, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. The other 5% of projects will become the new Apple, Google or Alibaba in the cryptoindustry. Will NEO be among those 5%?
That is one of the tougher predictions to make as there is a lot to like and dislike about NEO. If we were forced to make a call, we would say yes, NEO is one of the rare projects with a healthy future prospect.
There are two major points that will affect NEO destiny and we will cover them in detail in the following sections of this NEO price prediction guide. Fans of “chinese Ethereum”, get ready, we are about to answer the burning questions.
Why will NEO fail?
Why will NEO succeed?
Will NEO reach $100 or $1000 or at least its previous all time high?
Is NEO dead?
All of this summed up means one thing: NEO might live through couple of orchestrated and, for a regular trader, completely unpredictable pumps but the majority of time will be murky sideways trading with small volume and no significant interest from the market.
Price will heavily depend on what BTC will do and since many analysts think BTC will not be making big moves in this year, it is hard to expect NEO will do them either. The price will probably stagnate and record slow-moving depreciation or appreciation depending on the team activity, potential technological breakthrough or high-level partnership.
Market prediction for Neo – NEO Price 2019
With the market being completely unpredictable, forecasting the cryptocurrency price is really more of a gamble and luck rather than a data driven guesstimate.
Let’s throw a glance at the eminent publications and personalities, and their predictions regarding the NEO price, which will give us another point of view to consider:
|Crypto-related resources||NEO price prediction|
|#1||Being Crypto||Increase to:|
$120 by the end of 2019
$200 by the end of 2020;
$450 in five years
|#2||Smartereum||Increase to $1275 in five years|
|#3||Long Forecast||Drop to around $9 by the end of 2019|
Increase to $21 by the end of 2020
|#4||Crypto Ground||Increase to $195.352 in five years|
|#5||Coin Fan||Increase up to|
$200 by the end of 2019
$783 by the end of 2020
Cryptoground.com is cryptocurrecy prediction algorithm that is moderately to overly bullish on most of coins, similarly on NEO token as well. They forecast NEO to climb up to $30 per token by EOY, which means a 3x increase in comparison to the current price.
Walletinvestor is a popular website that does technical analysis-based price predictions of various cryptocurrencies and traditionally has a skeptical outlook for most coins, but especially for NEO. According to them, NEO is expected to sink by more than 4x – from the current $9.37 to $2.27 by the end of the year.
Trading beasts is on a diametrically opposite side of Walletinvestor and sees a much more bullish future for Neo token. Their algo forecasts that NEO can ascend to around $25 within a year which means it will essentially grow 2.5x in value in the next year.
Another crypto prediction algorithm that is most conservative in its approach of the 4 we enumerated here – DCP usually predicts price to hover around the same level as the current state, forecasting a twofold increase or reduction for certain coins. NEO is on the bullish side of their algo that sees it reaching $18 per coin by December 2019.
Neo Coin Future: 2020, 2023, 2025
NEO Price Prediction 2020
NEO has been one of the most hyped crypto projects that was a true media darling even during the peak of 2017 crypto frenzy that spawned thousands of new coins. However, despite the big hype built behind it, there is a shroud of doubt around the token’s viability and general competence of NEO team to pull off the laid out plan. Long-term NEO seems to be a risky investment and price in 2020 might float around the same level as now – $9.37.
NEO Price Prediction 2023
If NEO survives to see 2023, the token would surely be at 10-100x of the current value which means it would be at $90 – $900 per token.
NEO Price Prediction 2025
Again, should NEO survive to see 2025, the token would surely be at 100x+ of the current value which means it would be at $900+ per token.
Realistic NEO Price Prediction
Predicting prices of novel, highly volatile and risky asset classes is a thankless task – best answer is no one knows. Educated guess is that realistic NEO price for the foreseeable future is somewhere between its current price and its all time high of $160.
We don’t yet know which crypocurrencies will make it out of the crypto winter we’re wandering in right now. There are plenty of coins that stand a good chance of weathering the crypto storm and perhaps becoming more relevant as the market contracts and devours some of the weaker projects. However, there are even more of those projects who are already dead but no one noticed yet.
But, looking at things from this point in time and place, it’s reasonable to say that Neo had its five minutes of glory that was based on nothing but hype. It is now time for NEO to step up and actually deliver something valuable and palpable to justify the past and possible future hypes.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com