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Selections at the Discount Buffet

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Selections at the Discount Buffet

Introduction

This article was posted on Tuesday, 15:07, UTC.

We’ve seen huge sell-offs in numerous cryptourrency markets, including NEO and Litecoin, both of which are long-time Chinese favorites. Many people are accurately analyzing the situation as a market reaction to the news of renewed Chinese regulation in the cryptocurrency space, especially regarding ICOs. That NEO is built to facilitate other tokens has steeply effected its price, dragging it beneath the $20 mark at time of writing.

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We would say that these are discount coins if you are already holding NEO, and perhaps a good entry point if you are not yet holding them. It seems evident that the news of Chinese regulation has shaken many coins lose from weak hands which would be directly affected by such changes to regulation. Big Brother has long arms and deep pockets for chasing down financial bad guys, so it’s understandable why so many would rush to the exit sign at the first whiff of regulation.

But the shakeout has made for a feast for the long-term NEO trader, and even provided short-term opportunities for people who have so far held off on NEO. The upcoming Red Pulse token offering is likely to increase the value of NEO as a whole regardless of what markets are unable to participate in the ICO, as those same markets will still have demand for the tokens at a later time such that they have become available.

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Litecoin

Meanwhile, Litecoin has also fallen back to a good-buy range, dropping from a recent all-time-high of over $90 to just over $60 at time of writing. Long-term, the demand for Litecoin is likely to mirror that of Bitcoin and other cryptocurrencies, and so we can see a good buying opportunity with LTC as well.

Seems it’s discounts all day at the coin massacre buffet. Bear traders may be reveling in the shake-up, but ultimately everyone has certain bags they can fill in the melee. In the short game it’s easy to lose sight of the horizon, especially when you’re losing your shirt, but overall this market remains so young that any short-term losses really can be solved simply by holding fast – at least when we’re talking about coins which have fundamental long-term value.

Not, as it were, tokens based on the actions of specific companies or individuals, as we have in the ICO market. There, we experience a much more stock market-crash like effect when things go sour, so we must be even more vigilant.

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P. H. Madore

P. H. Madore

http://phm.link

P. H. Madore has covered the cryptocurrency beat over the course of hundreds of articles for Hacked's sister site, CryptoCoinsNews, as well as some of her competitors. He is a major contributing developer to the Woodcoin project, and has made technical contributions on a number of other cryptocurrency projects. In spare time, he recently began a more personalized, weekly newsletter at http://ico.phm.link

Comments
  • user

    AUTHOR Inverstor Clouseau

    Posted on 3:59 pm September 5, 2017.

    “The upcoming Red Pulse ICO” is cancelled!

  • user

    AUTHOR beaupain

    Posted on 6:00 pm September 5, 2017.

    Has the POSTPONEMENT of the upcoming RedPulse ICO (not cancellation) has an impact on NEO, do you think, PH ? S

    • user

      AUTHOR Inverstor Clouseau

      Posted on 9:22 pm September 5, 2017.

      Yes. That was a point of optomism as NEO’s practical worth was going to be proven. Now we’ll probably settle here for a while due to (undeserved) pessimism, in stead of the jump we would have seen.

    • user

      AUTHOR P. H. Madore

      Posted on 11:34 pm September 5, 2017.

      Yes, absolutely. I only just saw this news. Looks like NEO buying opportunities will be sustained for awhile, but we also have AdToken adding their platform to the NEO blockchain, so we’ll have to see if that has an effect as well. Unfortunately it’s possible to use both NEO and Ethereum chain on AdToken, so the effect won’t be as great as a system which builds itself entirely on NEO.

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