NEO Hits $70 But Still Losing Ground to Bitcoin

2017-12-18 03:04:15
by Dominic Brown

NEO Hits $70 But is it Enough Compared to Bitcoin

NEO is hitting new USD highs but its price compared to bitcoin price has not been the same since the china regulatory actions. Is NEO capable of being the Chinese ether, is the foundational strength of the currency permanently damaged until China becomes more welcoming of cryptocurrencies?

Priced at $70 is an all time high for the digital currency formally called Antshares. However compared to in August when NEO was 0.0115 of the price of Bitcoin. As it currently stands NEO is 0.0036 of Bitcoin. Although NEO has seen strong rises over the last few weeks as most currencies see the same Bitcoin is outshining most.

The pairing really highlights the true impact that the regulatory action in China has affected its leading currency at the same time further putting into perspective the meteoric rise bitcoin has seen over the final quarter of 2017.

If China makes positive regulatory changes regarding cryptocurrencies in 2018 will that enable NEO to catch up to the leading digital currency, Bitcoin?

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