Yesterday, everyone who is invested in Antshares waited on the edge of their laptops for the boom that was supposed to come in the aftermath of the June 22 conference. Trading volume was way up, and it looked as though this crypto currency was about to explode. People were running on to Bittrex in a desperate effort to gobble up whatever they could before the rocket took off for the moon.
Well, that didn't happen. Instead the price plummeted down to six dollars and change at one point. Everyone was bewildered as to why this happened except those who essentially saw it coming. There were whales in the water, and the news coming out of the conference was promising for the future but not anything that would propel the rocket as far as we hoped it would go. At least not yet!
This is actually an important learning opportunity for many people involved in investing in cryptocurrency, or investing in general. While everyone else is freaking out about the price plummeting, SmartMoney moves in and buys the dips, holds and waits for the next upturn in order to take profits. Panic selling, unless you absolutely have no choice, is almost always a losing proposition. And you have to ask yourself why you bothered investing if you don't believe in the long-term potential of this technology, which I do. I suppose many of the buyers just wanted to make a quick buck, and who can blame them? However, with the technology of this company still in its relative infancy, taking positions in this crypto for the long haul might be the way to go.
Neo has been hailed as the ETH of China. Many people are actually saying that the technology, in many ways, is superior to ethereum as it allows for the interfacing of other computer languages. Much of the conference was devoted to making this argument, and it will be interesting to see whether it actually ends up being true in the years to come. One definite advantage is the rate of adoption, as it appears that China is much more advanced and primed to integrate and implement digital currency on a much wider scale than in the west, particularly here in the United States where banks and existing financial institutions are doing all they can to slow down the proliferation of cryptocurrency. The rate of adoption will be a huge factor in determining future market capitalization, influencing both short-term and long-term growth.
I think that this is a perfect opportunity to get into NEO at a very reasonable price. My experience thus far has taught me to be bullish while the masses are being bearish, with the obvious caveat being the belief that there is an underlying value in the investment. There is enormous value in this technology. In the coming years we will undoubtedly see a transformation, some people call it the Internet 3.0, in which decentralization will be a reality and blockchain technology will be the new standard by which virtually every online interaction will operate. The marketplace is vast in China and in an environment that is ready for the change, we could see amazing booms in the not too distant future. NEO could truly be "the one!" My advice: buy now and HODL!