In the cryptocurrency world, new projects appear every day. One such successful start-up is NEO, an open-source cryptocurrency with the extended functionality to develop smart contracts and decentralized applications (dApps).
Some of the biggest exchanges and start-ups in the crypto space were created by Chinese developers and NEO certainly ranks among them.
But what we can expect from NEO in the future? Will the Neo price surge or plunge in 5 years?
In this article, will take you through a journey of future price prediction and its possibilities. Let us look into detail in this Neo price prediction now.
Table of contents
|Market cap||$ 1,650,112,269.0000|
|Circulating supply||$ 70,530,000.0000|
|Trading Volume||$ 838,035,274.0000|
|All-time high||$ 198.3800 January 15, 2018|
|All-time low||$ 0.0783 October 21, 2016|
What Is Neo?
NEO is a blockchain platform for the advancement of digital assets and smart contracts. The data chain about existing transactions is kept on different computers that are independent of each other. All operations conducted with the NEO cryptocurrency are checked by these data blocks, identifying the owner and transaction.
The project was launched by Da Hongfei back in 2014 and originally named AntShares before getting rebranded in 2017 as NEO. Today, it is one of the top cryptocurrencies out there with a large community behind it.
Neo Technical Analysis
NEO was previously referred to as Antshares, so we will start our price analysis from the rebranding in 2017. The price of the coin soared from $1 to $7 as the company concluded the rebranding and became NEO. When it heard about the coin, the crypto community began aggressively purchasing NEO. The coin reached $40 in August and the NEO’s market capitalisation was $2 billion.
For several months NEO was traded between $20 and $40. Then in December 2017, it started growing rapidly, along with nearly all the other digital assets on the market. Beyond benefitting from the overall influx of buyers into the market at that time, the growth of NEO was boosted by it getting listed on Bithumb, the largest active crypto exchange at the time. As a result in mid-January, the coin reached its ATH –$196.
When the market turned bearish NEO started going down. In March 2018, the digital coin cost about $52 but it managed to return to $76 before falling back again to $40. April was the last month when NEO showed solid growth and reached $83. After that, the coin started gradually falling and by the end of 2018, NEO’s rate was $7.
In April 2019 when Bitcoin started growing again, NEO jumped from $9 to $12. Besides, NEO upgraded its algorithm to improve transaction speed and stability of the network. However, the update didn’t cause a significant effect on the market price of the coin. By the end of June, the coin reached $20 and then dropped to its price of $8.
Neo coin rates in 2020 have a reasonably significant background. In quarter one (Q1) of 2020, they were once the highest performing set of cryptocurrencies and are now among the biggest cryptos seeing progress in the industry as of now.
The Neo prices in the year 2020 have been reasonably significant. In January, the price was about $8. Buying pressure, however, moved the Neo price higher and by mid-January the coin was trading about $17.
Neo coin rates collapsed at the end of the first quarter in March, tethering at around $5 by late March. In quarter one (Q1) of 2020, they were once the highest performing set of cryptocurrencies.
In Q2 2020, prices started to recover again. The Neo price moved rapidly, slowly and tentatively through Q2 to hit a peak price of $12.5 by the end of June. Neo saw a minor price dip since the beginning of July, pushing it down to the $10 corner. Alternate ups and downs coordinate the price into a sideways motion.
NEO was trading at $12.56 in early August and started to surge steadily. Dramatically, the price reached $22.12 at the end of August.
The price started to plunge in early September to reach $17.93. Later on, the price has seen minor fluctuations to hit $24.18 in the mid September and further plunged to $19.53 at the end of September.
The Altcoin started trading with its price of $18.22 in early October and later on the price started to plunge and reached $16.95 in the mid October. At the end of October, NEO was trading at $14.75.
Following the bullish note, NEO was trading around $15.70 at the dawn of November and then surged to $18.12 at the end of November.
NEO continued to plunge as its price hit $17.78 by early December. Due to the price plunge, NEO managed to reach $14.36 at the end of December 2020.
Neo Price Prediction 2021
As the bears held the market NEO initiated the year 2021 with its price of $14.66 on the first day of January. The altcoin price would shoot high in 2021, as the NEO community might have grown manifold, increasing its users and adoption ratio. NEO is having great potential, to be one of the top 10 cryptocurrencies by 2021. By then, the token would also hit a new high. But if the market volatility takes a turn, NEO might suffer minor losses, and the value might reach $42.
Neo Price Prediction 2022
NEO might initiate the year with $40.02. It could reach $64.12 by the mid of January with some price plunge. At the end of January NEO would trade around $60.53. With some price plunge, NEO would be traded between the range of $38.93 and $48.75 for several months. It might hit $58.82 at the end of 2022.
NEO 5 Years Price Prediction
The token might reach $125 in early January, which might become one of the biggest stepping stones for NEO. NEO might even move up the ranking order, gain good deals and partnerships with the biggest organizations in the world.
NEO has always proved its uniqueness, which helped the NEO fans to stick by, even when it is not doing well. This proves that NEO might prove to be a game-changer in the days to come. By 2025, Neo might reach $155.
Neo Coin Market Prediction
As the custom is, no one coin has a convergent opinion of price from market analysts. Neo coin price prediction is subjected to such uncertainties. However, the future price sentiments for Neo coin remains generally bullish.
Let us get a glimpse of the future of NEO by looking out the predictions given by the crypto traders or publications:
1) Wallet Investor: Wallet Investor is a renowned website for crypto prediction, which has predicted that NEO could reach USD 41.43 by the end of 2021. They also presented a 5-year projection where they thought NEO could hit $103.70 in a time period of 5 years.
2) Long Forecast: According to LongForecast the price of NEO will be in the range of $284 to $328 during May 2021 and will go up to $504 by the end of December 2021.
3) Crypto Ground: According to Crypto Ground, in a span of 5 years, NEO could go up to $195.352, which would be a rise of about 40X, X being the current mark.
4) CoinFan: CoinFan believes that NEO could increase to as much as $783 by 2021. This looks like an optimistic bullish prediction by Coin Fan.
Our Neo Price Prediction
Futuristic considerations mainly motivate the creators of NEO, as they are based on making NEO the base for a potential economy. In achieving their goals, they are very proactive as they have already discarded the conventional proof-of -work and proof-of – stake validation algorithms for a delegated Byzantine fault tolerance algorithm,
This is designed to reduce the network’s susceptibility to bad actors while improving its transaction speed scalability. NEO price might trend upward to hit the $95 mark by the end of 2021
By December 2021 , Neo price is likely to grow to around $45.
Neo is one of the top-performing crypto assets undoubtedly, but when you decide on investing, go through thorough research.
With a great community of users and developers, Neo is going to grow manifold in the future.