Technical Price Analysis of Neo(Nov.6th)

NEO, formerly known as antshares, is considered to be China’s answer to Ethereum. Both cryptocurrencies use smart contracts but NEO takes advantage of its unique blockchain in order to improve on Ethereum’s network. NEO is the first decentralized, open-source cryptocurrency and blockchain platform launched in China.
NEO is a blockchain platform and cryptocurrency designed to build a scalable network of decentralized applications. The base asset of the NEO blockchain is the non divisible NEO token which generates GAS tokens that can be used to pay for transaction fees generated by applications on the network. The GAS token is designed to act as fuel for the NEO blockchain and act as a form of security. GAS was not premined and it is designed to be used to allocate resources and maintain the day to day running of the blockchain. It will also be used to reward users maintaining the blockchain.
NEO supports a wide variety of commonly used programming languages such as Javascript, C#, Python, Java, and Go, by using a customized version of Docker called NeoVM that compiles the code into a secure executable environment.
One of the biggest reasons why you should go for NEO in this time of change and possible recovery is the way that NEO has been acting prior to this year’s bearish market. Back in the day, when the crypto prices went on a true rise, NEO managed to hit $187, which was its record, and it came just before the market drop in January. If it weren’t for the constantly bearish market, NEO’s price could have survived the first wave of price drops. Its value even managed to hold on to a decent price for over a month of price drops, which was seen in mid-February, when it was still quite good, at $144 per coin.
However, the market remained for over half a year, and by May, NEO dropped below $100. Many wanted that this is as low as it can get and that the situation will surely take a turn for the better soon. However, they were disappointed when NEO dropped to $29 by the end of June. A little over a month later, NEO has dropped again, but only slightly, and many would argue that the current price of $28.05 might indeed be as low as it could get.
So, NEO has been performing more than well under the proper conditions. It is the cryptocurrency which has most recently given a powerful return to its investors. According to statistics, it would be of great advice to invest, buy or sell NEO.

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