After going for a rebound by 10% against the fiat in the course of seven days, NEO (NEO) lost -7.7% of value in a single day concluded with June 4th, 2019. Prior to the daily drop by over -7%, NEO representatives published their monthly report for May. G
According to the mentioned monthly report where NEO representatives revealed the progress of the project by far, the blockchain startup is steadily growing through core developers with a special focus on Dapps, however, the community seems to be sharing the excitement due to the latest hiring of Harry Pierson who previously worked for Microsoft.
NEO (NEO) Performance: How Well Is NEO Doing in the Market?
At first scoring 10% against fiat in a week, NEO was presumed to be following the movement of Bitcoin that has been dictating rises in the market for several weeks now, at one point topping 8,500$ per unit.
The theory that the rest of the crypto market is following Bitcoin might as well get confirmed not only in the case of NEO, as the top currency drop 5% on June 4th, and the majority of cryptocurrencies followed the negative daily trend.
With the latest change in the market, NEO is recording 1.29% of gains in the last two weeks, also recording 29.7% for the period of the last 30 days.
In the meanwhile, NEO enthusiasts are suspecting that the latest hiring of Harry Pierson at NEO office in Seattle can have a positive impact on the price of NEO in the market. That is still not the case, even though NEO has been showcasing a steady progress for the past month.
NEO Still Not Able to Take a Full Recovery from Last Year’s Dips
From the price of over 55$ during 2018 before the major dip in November to the present value of little above 12$ per one NEO unit, the crypto is still not able to take a full recovery.
This case is anything but strange as the rest of the crypto market is struggling as well, Bitcoin included with the exception of the latest rebound that took the biggest crypto to nearly 9,000$ per unit in the last few weeks.
For now, NEO developers are focused on what they are said to do best – developing NEO ecosystem, while NEO foundation is keeping their focus on Dapp development as their greatest strength.
Concluded with June 3rd, NEO recorded 7,228% return on investment, which places the coin on the 19th place on the list of all cryptocurrencies.
NEO (NEO) Short Term Profits vs Long Term Gains
When it comes to investing in NEO, the odds of scoring short-term gains seem to be the more likely the case than turning your NEO investment in the long-term profit based on the latest performance in the market.
The lowest price for NEO in May was set at around 8$ per unit, while the highest price that NEO had seen during the last 30 days was 14$ per unit, after which the crypto dropped by -10%.