NEO Price Drops by 5% as Bears Take Control

It is very difficult to find any real promising momentum in the cryptocurrency industry right now. As Bitcoin remains in the red, the vast majority of alternative markets is dragged down as well. The NEO price, for example, is losing a lot of ground across the board. It remains to be seen if its value can remain above $8.5 for much longer.

NEO Price Gets a Beating

Even though Bitcoin is keeping its losses to a bare minimum right now, the same cannot be said for most altcoins on the market. NEO, for example, is losing four times as much value as Bitcoin, which shows how tough the times have gotten for all markets all of a sudden. Even though NEO has ample trading volume, it appears most people are intent on selling.

To put this in perspective, the NEO price has lost 5.5% in USD value and 4.8% against Bitcoin over the past few…

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