Bitcoin has been caught in the upward trend of a company in recent days. Which has begun to spread in the Alto general market, with many smaller cryptocurrencies. Such as the reception of meteorites by NEO in the last 24 hours.
It seems that the most profitable cryptocurrencies are the Chinese alternative currencies, which may be because they are catching the tail of the frequent comments of the Chinese president about the state of the blockchain industry.
NEO shoots as more than 40% of Bitcoin continuous escalation
At the time of writing, NEO is trading at more than 43% of its current value of $ 12.28. Indicating a significant increase from its daily highs of $ 8.45.
It is important to keep in mind that this last parabolic movement occurred when the NEO had already achieved some good profits, with cryptocurrencies that are currently trading well above the weekly lows of less than 7%.
It is widely the result of President Xi's comments that China wants to make it a world leader in blockchain technology, so naturally. These comments favorably reflected in the main blockchain projects based in China, such as the NEO.
In addition, the recent bitcoin rebound is reaching the cryptocurrency. As it has been able to skyrocket from the recent lows of $ 7,300 to a maximum of $ 10,600 before settling at its current price of $ 9,700.
Powerful narrative that drives Chinese Altcoins for the rally
NEO is not alone in its recent rally, as Tron, Ontology and other Chinese blockchain projects have gained massive upward momentum in recent hours.
Luke Martin, a leading cryptocurrency analyst on Twitter, talked about the NEO rally in an earlier tweet as of today and noted that a powerful narrative is driving it. Which could mean that new gains are imminent.
"$ NEO is exceeding 7-10% in 7 hours. Stories are a powerful thing worldwide. It is important to recognize that almost every overpass is a * commercial * opportunity. It is not the same as BTC. Now I am And I don't tweet too much about the alert. But inefficiencies will always interest me, "he said, pointing to the chart below.
Assuming that China will begin to advance in blockchain technology in the coming months. It is likely that the cryptocurrency associated with China-based projects will continue to experience greater momentum.
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