Some progress has been made in terms of the coin market capital. It has gone up and has crossed the $260 billion mark. At 3:35 PM UTC, the cryptocurrency market capital was at $262.687 billion dollars. A huge bonus for the cryptocurrency world is the entrance of the Rockefeller family, which is the unofficial ruler of the United States, by investing through their official venture capital arm Venrock.
The Bitcoin dominance is dropping day by day as it now stands at 44.1%. Bitcoin prices slowly seem to be recovering from the swing lows of yesterday. BTC, at 3:45 AM UTC is trading at $6838 with a market capital of $116.038 billion. Analysts are of the opinion that the recent dip which happened to Bitcoin was due to the looming tax deadline.
Our sentiment analysis section provides our readers an opportunity to get to know the market sentiments from across the globe. This segment is carefully structured by interviewing a group of investors, miners, journalists, skeptics, and influencers, and their valuable comments in this segment. This analysis will be on the cryptocurrency NEO which is currently ranked at the 9th spot.
NEO seems to be gaining some traction with a 1.29% gain in the last 24 hours. At 3:59 UTC, the coin is priced at $51.69 with a market capital of $3.359 billion. The community is bullish as the coin is back above $50. They also hope that the trend will continue for months to come. The move above $57.00 will brighten the mid-term horizon. The bulls may take it to that level soon.
Eva Bowman, a Financial Adviser from Noida says:
“The coin was trading above $53 which is a crucial mark. It has to stay above that mark to keep the bears at bay. A sustained break below the support level of $50 will lead to $48 and then even down to $44.”
Markus Lowe, an economics student at MIT says:
“NEO is a coin that had shown a lot of potential in the past. It was peaked an all-time high of $162 back on January 30th. The coin still has the potential to retrace this exponential growth back. I personally feel that NEO is the future of cryptocurrency.”
Edward Lucas, an altcoin analyst from Nashville says:
“NEO will maintain the current price range of $45-$55 till the end of May. Till then it will be going up and down between these prices. Right now there is a strong support for the coin at $45.”
To conclude, 59% of NEO respondents feel that the coin will maintain the current price range which will be good for it in the long run. Another 41% of the NEO respondents feel that coin will lose its strength by the end of May.