The NEO-USDT pair on CryptoPredicted
In the past week the crypto markets have been, and still are in free fall. Claims are made this is because a crypto exchange has been hacked and thousands of Bitcoins were sold. Since Bitcoin has a major effect on all other cryptocurrencies, these consequently were effected and dropped in value in matter of hours.
But we also have some good news. Today we added the NEO-USDT pair into CryptoPredicted. NEO is now available on both the predictions as well as integrated with all our trading strategies.
In the next two sections we’ll analyze NEO’s performance from the standpoint of our algorithmic trading strategies as well as the predictions.
Trade signals
Some of our users asked the question whether our trade signals are short or long positions. The answer is that they are all longs, because not all exchanges allow trading shorts. And longs are more intuitive and more accessible to less experienced traders.
On the screenshot below you’ll see all our trading strategies with their respective ROIs as of 13 June 2018 (12:30 CEST). Because of the bearish conditions past few days the ROIs literally decreased by more than 20%. But more importantly, I indicated with green rectangles all NEO-USDT entries. This allows us to put NEO in perspective and compare it with the other currencies.
We learn that NEO falls in somewhat the same category as LTC or ETH in terms of profitability in combination with our trading strategies. But it’s performing slightly better than BTC which is good news. But BCC (aka BCH) is still far ahead compared to all the other coins.
For instance, the Macd 2.0 (60min) strategy yields the highest returns for NEO. Most Buy signals as shown above are pretty solid and well positioned. But the bearish conditions make it much harder to make a profit, which again results in a pretty low ROI.
Price predictions
The price predictions are well integrated and work flawlessly, using both the 10 minute and 60 minute intervals.
Conclusion
It would be nice to see how NEO will perform with our trading strategies during bull market conditions. We’ll have to wait to make that analysis. Overall NEO is pretty solid and falls in the league of LTC and ETH in terms of ROI, so it’s definitely a coin worth trading.
Make sure to subscribe if you wish to stay tuned for the next episode. And if you like our work then try out CryptoPredicted for free — you’ll find the link in our profile description.
Have a great day!
- Ilya Nevolin
