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NEO (The Chinese Ethereum) Takes 8th Market Place – Price Will Continue Surging $30.00

NEO – in the past known as Antshares – has taken a major step towards price recovery after its last week price ‘water deep-dive’ to only $13.29 which was almost $40 in the negative compared to its peak $50.10 a month earlier.

That was understandable as the “Chinese Ethereum” is generally a Chinese Coin with Bitfinex as the second in-lead for daily trading volume out of the exchanges that pair NEO with any currency.

NEO future

Source: Coinmarketcap

Major psychological resistance trend line was broken below the $20.00 which changed a declining flow the NEO/USD has taken since its highest spike in Aug 14 – The particular action opened gates for more increase as it is experiencing now.

With a market capitalization of $1.477 bln NEO has surpassed IOTA and Monero once again being ranked 8th in the top ten list by market cap of the leading virtual currencies pack.

With the ban on exchanges, and the generally anti-cryptocurrency sentiment in China, some thought NEO would simply cease to exist. However, just a week after having to repay some of its initial investors, the altcoin has regained much of what it lost.

Very stable performing by the cryptocurrency as it regained more than 100% increase per coin passing the $26 since its lowest $13.29.

Well cemented positioned to turn out as the best cryptocurrency and application platform in China. The crackdown could be turning out better than anybody thought for NEO.

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The Road To Recovery as Bitcoin price Returns – Huobi and OKCoin to Continue for Another Month: Investor Migration

The Bitcoin-to-fiat exchanges ban in China announcement today that will be happening on Sep 30, impacted the market so hard all cryptocurrencies majorly crashed in a couple of hours. Bitcoin did reach lower than even $3,000 hitting $2,962, which counts approx $1k loss in value in a day.

The drama created by the regulatory, initiated a high number of requests to enlist from mainland in a short amount of time. Exchange platform Gatecoin CEO Aurelien Menant, Hong Kong based added that:

“Since last Friday, with the rumors of a possible tightening on the regulation of exchanges in the mainland, we have experienced a surge in the number of Chinese clients registering on our platform.”

There were signs that Hong Kong movement and actions related to ICO token will be more like the US and different to China itself.

As the recent news were spread today, two specific exchanges were given one more extra month to complete services when it comes to Bitcoin-to-fiat trading: Huobi and OkCoin.

bitcoin exchanges forgiven

This could have been the reason for a Bitcoin price bounce back in a matter of minutes with the other virtual currency prices following back. For the moment it is trading at $3549.42 with a positive 1.44% increase in the last 24-hours. Whoever used the chance to buy when the price was below the $3,000 major mark or held for longer term made a smart move.

The trading volume in the last 24-hours could the monthly highest at $4.125 billion with Bitfinex leading at 16.40% of the total exchanging.

As the leader of the pack is recovering, the other top-ten cryptocurrencies are following. Ethereum returned to $241, Litecoin is back on its track which could be aiming the previous stable trading ground at $60 with a trading volume of $1.4 bln.

cryptocurrency price prediction after ban

The early updates received mixed reviews, however, with some social media commentators suggesting it is a way for Chinese regulators to prolong market manipulation.

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