Why the dip in NEO won't last long

There has been quite a bit of FUD in the air over the last 24 hours as recent news on Chinese regulations on ICOs has reached the west causing NEO, China's Ethereum, to plummet in price from $38 down to $30. As I said the cause of the dip was the announcement that the Chinese Government does not feel that the recent ICO proposal for REDPULSE was not up to par and Chinese citizens could not participate.

So here's where all the FUD and selling off seems nonsensical and extremely emotionally driven. WE HAVE BEEN HERE BEFORE! This ICO craze has been going on for months on the Ethereum platform. As a US citizen there have been numerous ICOs that did not allow US citizens to participate due to them being considered Securities by the SEC and FTC. While the value of ETH has dipped even down to $160 for a brief time in late July, its price seems to still climb. We all know that when someone is told they can't have something that generally drives that individual to want it even more, meaning if something is more difficult to attain it generally becomes more sought after.

NEO, like it or not, is here to stay and this recent dip will only be a mere stepping stone over the next couple years. If anything the Chinese regulations will see only quality ICOS get launched on the platform. We have all seen some shite coins and projects released on ETH, hell it seems like there is some new ICO every day on ETH. Hopefully with the regulations the Chinese can limit the garbage that could potentially slow the network or cause flash crashes.

I am not a financial advisor and this is not financial advise.
-CG