Predicting NEO’s Next Rally

NEO has had 2 massive rallies already; let's see what they can tell us about the next one!

What is NEO?

NEO is a cryptocurrency and a blockchain platform launched in 2014 under the name Antshares before rebranding to NEO in 2017.

NEO is often referred to as the "Ethereum of China" due to its similarity in design and functionality to Ethereum and its goal of becoming the leading platform for smart contracts and decentralized applications (dApps).

Like Ethereum, NEO allows developers to build dApps and smart contracts on its platform, with the added benefit of supporting multiple programming languages, including C#, Java, and Python.

The NEO blockchain also uses a consensus mechanism known as delegated Byzantine Fault Tolerance (dBFT), which is designed to provide high levels of transaction throughput and scalability while maintaining security and decentralization.

As with any investment, technical analysis can be a useful tool for predicting the future movements of NEO.

Looking back at the price history of NEO, we can see that the cryptocurrency had a remarkable bull run in 2017 that ended in January 2018. Following the bull run, NEO entered a severe bear market that saw the coin lose almost 98% of its value.

Using the past to predict the future

However, the bear market ended in March 2020, and NEO has experienced a strong rally, with the coin delivering over 3,500% profit to investors who bought at the bottom of the bear market.

Following the bull run, NEO again experienced a 96% drop, which suggests that the price may have already reached its lowest point or is very close to doing so.

It's worth noting that before NEO made its big rally, it had numerous smaller rallies of 200% to 300%, which could be what we are seeing currently.

Looking Ahead: The current 100% rally could be a precursor to even more significant gains for NEO in the future, especially if the project continues to deliver on its promise of becoming a leading platform for decentralized applications.