All explained in detail on this graph:
But the simplification of a complex economic dynamic:
Certain major world market index over the last 12 months highly correlated with with regional digital assets.
Overnight, Chinese stocks ceded their ranking as the second-largest equity market in the world amid an elevation in trade tensions after the Trump administration
said it was considering increasing the initial proposed tariff. Given China and Asian markets are major contributors to the value that NEO (and BTC) holds, NEO (and BTC) have taken a tumble. This is despite US equity markets being on the rise.
In my opinion an exponential recovery of BTC, NEO and GAS is imminent. The suppression CHINAA50, BTCUSD NEOUSD and GASUSD from a temporary trade war is an opportunity to buy these assets at an already discounted price. Given that NEO is a Chinese based blockchain its not overly surprising that NEO and its utility token GAS has had an amplified price deterioration making then even more of a buying opportunity.
But the simplification of a complex economic dynamic:
Certain major world market index over the last 12 months highly correlated with with regional digital assets.
Overnight, Chinese stocks ceded their ranking as the second-largest equity market in the world amid an elevation in trade tensions after the Trump administration
said it was considering increasing the initial proposed tariff. Given China and Asian markets are major contributors to the value that NEO (and BTC) holds, NEO (and BTC) have taken a tumble. This is despite US equity markets being on the rise.
In my opinion an exponential recovery of BTC, NEO and GAS is imminent. The suppression CHINAA50, BTCUSD NEOUSD and GASUSD from a temporary trade war is an opportunity to buy these assets at an already discounted price. Given that NEO is a Chinese based blockchain its not overly surprising that NEO and its utility token GAS has had an amplified price deterioration making then even more of a buying opportunity.