The cryptocurrency markets are seeing some healthy growth now that the Bitcoin Gold snapshot is well behind us. In fact, Bitcoin is perhaps the only major cryptocurrency struggling right now, which is not entirely surprising right now. Altcoins have been suppressed for some time now and they are mounting a comeback. Especially the NEO price sees some major growth as of right now. NEO Price Rebound Strongly The past week has not been all that great for most alternative cryptocurrencies. More specifically, all altcoins have been bleeding value left, right, and center, even though there was no real reason for
The cryptocurrency markets are seeing some healthy growth now that the Bitcoin Gold snapshot is well behind us. In fact, Bitcoin is perhaps the only major cryptocurrency struggling right now, which is not entirely surprising right now. Altcoins have been suppressed for some time now and they are mounting a comeback. Especially the NEO price sees some major growth as of right now.
NEO Price Rebound Strongly
The past week has not been all that great for most alternative cryptocurrencies. More specifically, all altcoins have been bleeding value left, right, and center, even though there was no real reason for that momentum. Then again, a lot of people wanted to partake in the Bitcoin Gold hard fork and ensure they would be eligible for BTC when the blockchain snapshot was effectively taken.
That being said, the altcoins are certainly mounting a very strong comeback right now. Right now, the NEO price is noting some very strong gains, which was to be expected after the horrible week all altcoins have gone through over the past week. Especially in the NEO price department, the value has been fluctuating quite a bit over the past seven days. This allows people to make some good money along the way, though, as there were multiple dips and rises to benefit from.
More specifically, the NEO price has gone from $31.5 to $26 and now back to $30.63 over the course of seven days. It is good to see this return to over $30 right now, as it represents a 12.34% gain in USD value. It is also worth noting the NEO price regained 15.25% in value against Bitcoin itself, which further confirms the strong momentum.in place right now. Rest assured these strong gains will be met with some resistance along the way, as there are plenty of bagholders looking for an exit right now.
On the trading volume front, not much has changed for NEO these days. While it is true the trading volume has increased a bit again, the $61.37m in 24-hour trading volume is not necessarily spectacular whatsoever. If NEO were ever to reach $100m or more in volume, things will certainly get a lot more interesting moving forward. Right now, it seems the low volume is more than sufficient to keep things going, but that situation may come to change in the future at some point.
It is also worth mentioning how Bittrex is still the largest exchange for NEO right now. Binance is a close second, with Bitfinex well behind in third place. The addition of NEO to Bitfinex was initially met with a lot of enthusiasm, but the exchange will be leaving the US market very soon. Once that happens, things will look slightly less positive for any exchange heavily relying on this platform for trading volume. It will even affect Bitcoin trading as well, although the full impact remains to be determined.
Taking all of these factors into account, it will be pretty interesting to see what the future holds for the NEO price in the coming days and weeks. Right now, the momentum is keeping the price well above $30 with relative ease, but things can always change in a matter of minutes. Whether or not we will see a NEO price of $35 later this week, remains a big question for now. Always remember to take small profits over small losses, as there will be new opportunities on the horizon on a regular basis.
