It’s ‘s Kiana with News BTC and here is your cryptocurrency update. NEO was the clear winner among the top 20 major cryptocurrencies on Monday, as it saw a 12% surge according to a reading from Coinmarketcap. NEO is also called the Ethereum of China. Its recent surge could very well be due to the Weiss Ratings agency that gave NEO a top-tier A- investment rating. NEO is the first project to break into the A-Tier, as dictated by Weiss Rating standards. Weiss specializes in separating financially stable investments from risky gambles, placing a premium on high-quality operations and a long-term view. For example, bitcoin’s low grade comes from a less sophisticated technology and high speculation risks. NEO is seen as a more advanced platform with much less speculation going on. Despite this, you need to keep in mind that there is no such thing as a completely safe cryptocurrency. So you still need to complete your risk management due-diligence before developing your investment strategy. Looking at Neo’s price action versus the USD, Monday’s surge helped the pair create a bullish engulfing candlestick chart pattern inside the daily Ichimoku cloud, testing the 38% Fibonacci resistance. NEO has two more key barriers to break through before reaching the all-time high level of $200 from back in January. NEO’s market cap ranks number 7 at the time of filming, trailing behind Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, and Cardano. Thanks for watching, invest responsibly, and I’ll see you with more updates tomorrow.


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