Too many people are emotionally attached to this coin.
With all investments you have to reassess the environment and perceived outlook. Guess what? It hasn't been great for a while and the price has indicated that.
Don't let FOMO rule. Set a buy order if you think you will miss a run.
There were 3 points where I would have sold...when it broke resistance at 40, 30 and 20. What are people protecting? I just don't get all the NEO HODLers on here.
Maybe it is not so much about "emotions" as it is about the raw "facts" - NEO a.k.a chinese Ethereum has it's potential hidden in fact that it had the opportunity to learn from Ethereum's mistakes and I am more than sure that it will not repeat them. Moreover - NEO already now has contracts signed with big companies like Microsoft for instance for further development and implementation if it's product. I understand that you might be referning to people that are still sitting on NEO's "hype train" without even knowing what exactly NEO is, still though - it's pretty understandable why this cryptocurrency is backed by such a big amount of "believers" - it has the amitions, the plan, the support. All it needs now is further development and more "check marks" in it's to-do-list. And again by "believers" I mean those 10% of "smart" investors out there that actually know and read stuff.
There is the company (model, management, etc), the price of the share (or in this case the token), and fundamentals of how the company is doing. In my experience from trading traditional stocks, it all matters but you have to look at the whole picture.
I used to get very angry whenever a company I had invested in published great earnings and the stock tanked because they didn't hit estimates or the outlook wasn't in line with wall streets expectations. These were still great companies and had great fundamentals but the price didn't match the whole narrative.
Take GOOG right now. 99% of the companies out there would love there top and bottom line numbers. Yet the stock price has wobbled in a range around $900 a share for a while. The other FANG stocks have made better YTD gains. If I were invested in GOOG right now i would be a little angry but my experience with trading allows me to understand why fundamentals and future outlook doesn't matter as much as you want it to.
Going back to NEO. Lets agree that it has all the makings for a great company that will make a ton of money one day. But right now it has FUD, large market negative sentiment to battle, along with the facts that it needs to get off the ground. In sum, the MC just didn't justify the price or the gain given the big picture.
Disclaimer. I missed the boat on NEO. I was about to go all in when it shot up to $50. I didn't lose my cool. There are always pull backs and watched the action. My younger self would have bought in by now due to FOMO and my emotions about NEO in general but we are dealing with hard earned money.
ANYONE that has ridden NEO from $50 shouting HODL on the way down will eventually lose his shirt in trading. You must look at the charts and market conditions more than the fundamentals of the company. Yes that even applies to people that bought in at a very cheap entry price.
You don't understand not everyone is day trading Neo. Neo is a share and it's not divisible. The Gas it accumulates is divisible. Don't you think people just want to hold to collect and sell Gas rather than selling the factory? Think about it 🤔
Again? :-)