The word is out there that NEO (NEO) is the Ethereum (ETH) of China. It has the seal of approval from a country with a population of over 1.4 Billion according to a 2017 census estimate. This is approximately 25% of the world’s population.
This means that if the founders of NEO cryptocurrency really wanted to make things interesting, they’d market NEO to the 1.4 Billion Chinese with a 33% population being between the ages of 15 and 35. This means a possible market share of 462 Million young Chinese willing to own and transact with NEO.
All of NEO coins have been mined and stand at 100 Million coins with 65 Million of those in circulation.
With the figures of a young Chines population; the coins in circulation; and the possibility of NEO being the cryptocurrency of choice in not only China but South Korea and Japan; one can only imagine the heights NEO can reach in terms of coin value and influence in the cryptocurrency world.
When we look at Ethereum coin that was introduced to us in August 2015 and has had a percentage increase of 35,325% since then, one can only imagine the possibilities of NEO (NEO) which was introduced to us in September 2016 at $0.181483 according to XBT.net. The coin has then proceeded to post 70,160% in gains from then and reach the current value of $127.51 in a period of 17 months.
This is very much impressive. The growth has been twice that of Ethereum and in a shorter period by a whole year. If this percentage increase were to persist for another 17 months, NEO would find itself valued at close to $90,000 by May 2019 with a market cap of $5.85 Trillion. This is a value that is way past The Moon and possibly about to leave our Solar System!
I know this is absurd because no coin grows in value at a constant rate for over 2 years, but we can see that the tide is turning in favor of NEO. My gut prediction for the coin by the end of 2018 is approximately $600 based on its performance during the market corrections that have plagued the crypo currency markets since December 2017.
NEO (NEO) has been gaining considerably since Christmas, 2017 as Bitcoin has been plagued with serious dips in value over the same time period. On Christmas, NEO was at $56 and is now at $127.51. A gain of 128%. In the same time period, Bitcoin has dropped from $13,850 to $10,590. A drop of 23.5%. On the other hand, Ethereum has only gained 40% in the same time period.
Therefore, it is this premise of simple mathematical analysis that I can comfortably declare that NEO is gunning for Ethereum in terms of price and mareket cap. With lesser coins in circulation, NEO has the potential of reaching heights only known by Bitcoin last year by following the laws of supply and demand. Ether has 97 Million coins in circulation. Neo has 65 Million.
With the $400 value quoted above as the prediction for the value of NEO (NEO) in late 2018, its market cap will reach $26 Billion and catapult it to position 4 ahead of Bitcoin Cash and shy of Ripple’s market cap.
It is only a matter of time before NEO is knocking on the door of Ethereum (ETH) and asking to take over the number 2 spot on XBT.net. Another plausible scenario is the fall of Bitcoin from the top slot and NEO (NEO) taking over!