The Chinese Govt has temporarily banned all ICOs in China and has asked those ICOs who have completed their funding to return the money back to the investors. NEO based in China and a platform for upcoming Chinese ICOs saw a drop of 35% after the announcement. Binance Coin from the Chinese exchange Binance saw a drop of 40% today. Binance is already refunding investors of the Super Skynet ICO.
As China bans ICOs NEO drops 35%
7 years ago in #neo by rudystyle (58)
$13.50
- Past Payouts $13.50
- - Author $13.36
- - Curators $0.14
Oh do thats the reason for drop.
Good time to get in on some NEO either now or if it drops a little more. It will go back up again in no time.
First comment on Steemit!
First investment in the crypto currency market was a couple hours ago - I bought Neo but I split my money 50/50 so I can get in on that Dollar cost averaging and hopefully buy when Neo goes down even further.
What are your predictions? Do you think Neo will continue to drop?
If the Govt asks NEO to refund it's ICO investors, I think we can be in problem
Unless if the Chinese Government goes after NEO, I doubt it will get lower than $17, watch how it performs today. Been sitting around $21 - $22.
My take is that China wants to cool the jets a little bit on all of these ICO's. Once they get a handle on some form of moderate regulation ICO's will be allowed to resume. Just like they regulated exchanges to prevent all of the margin trading going on with Bitcoin.
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STOPGreat to see NEO bounce today as China has temporarily banned ico's but NEO is working WITH the Chinese government. ALL ico's are supposed to go through NEO or government backed companies to form control and capital flow. China is very afraid of losing capital out of its country which is WHY it has banned ico's unless it has some form of regulation of them due to its desire to enter the reserve currency basket along with Dollars, Pounds, Euro etc.
I hope you got some while NEO and Gas are cheap as once everyone realises neo will be one of the few ways to host Chinese ico's I think you can expect it to grow like Ethereum, especially as Chinese are very patriotic and loyal. Peace!
Oh shit
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STOPthank you
Good post. Good to see I'm not the only one who thinks like this. I've been asking myself. How many people really do a proper background check before seriously investing in an ICO? An interesting website I found: https://www.coincheckup.com I don't know any other site that gives such good inisghts in the team, the product, advisors, community, the business and the business model, etc. Check: https://www.coincheckup.com/coins/Neo#analysis For the Neo Analysis.