With the Bitcoin price on a tear, and some degree of manipulation happening in the markets, it's probably a wiser time than usual to plan ahead to dodge bullets. If you're like me, you are wondering, "Where should I diversify a little Bitcoin at this all-time-high?"
You know, other than Steem...or SBD, which apparently touched as low as .73 overnight...
Since Bitcoin is so high, many alt-coins are seeing bargains in their Bitcoin price that haven't been seen in some time. Not only that, but many alt-coins are trailing Bitcoin in this price run-up, which makes their risk-reward ratios for further gain even more tempting.
Unfortunately, we won't be talking about one of those bargains today... because the jig is already up on this one.
Neo is being described as "the Chinese Ethereum", and that alone is probably enough to explain the explosive growth it has seen in the last few weeks. As you can see, it is well established, being the oldest blockchain platform originating from China.
Recently, it has caught a lot of people's attention after rebranding from AntShares. It has nearly tripled over the last week, placing it into the 7th position on CoinMarketCap.
I neglected to purchase this coin when it was known as "AntShares", as I didn't have verification at an exchange carrying it at the time, and I didn't like the name. Though the former was a practical problem, the latter was not a good reason. I missed the boat on this one.
As a result, this is the #1 coin I want to own, but do not. I am really antsy to get at least a few of these into cold storage somewhere for the long haul.
Edit: Neo apparently doesn't have a good wallet option for this yet, but there is overwhelming demand for support for it on the Ledger Nano S "slack" - it looks likely it will be supported soon. This goes on for pages and pages:
Long-term risk level: Low. This coin looks very promising.
Short-term risk level: High. This coin has leapt up in price nearly 40x recently. A violent move in either direction is not merely possible but perhaps probable.
Suggestion: Set limit-buy orders well below market at prices you are comfortable with, then forget them until filled.
Here are the price points where I have set limit-buy orders for Neo. Feel free to mimic my estimates on good entry point bargains.
I get increasingly optimistic the lower down the list we go.
Please let us know in the comments if you have any questions, concerns, or ideas about properly pricing this coin!
Note: The above does not constitute investment advice, and I am not an investment adviser. Do your own due diligence. My returns may not be worth mimicking, so choose to follow my entry points at your own risk. I do not advise trading, but holding coins you believe in off-exchange.
Sources: Neo.org, Coinmarketcap, Cointelegraph, Wikipedia, Gamespot
Copyright: Neo.org, The Matrix