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China Rally 2.0: NEO, VeChain, Ontology Record Double-Digit Price Gains

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  • Alex Dovbnya
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    NEO (NEO), VeChain (VET), and Ontology (ONT) keep surging while China is warming up to crypto

China Rally
Cover image via 123rf.com

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A bevy of Chinese altcoins is rallying hard once again. According to data provided by cryptocurrency tracker CoinStats, NEO (NEO), VeChain (VET), and Ontology (ONT) are among the best-performing coins at the time of writing after recording double-digit price gains. 

VeChain, NEO, Ontology
image by coinstats.app

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Cryptocurrency trader "Paddy Stash" says that NEO has formed another higher high after holding support, which might signal further price gains. NEO is currently the 20th biggest coin by market capitalization with its market cap sitting at $860 mln.  

This is already the second China-specific rally in less than a month. As reported by U.Today, the aforementioned coins spiked by more than 40 percent after Chinese President Ji Xinping showed his support for blockchain, the very technology behind the vast majority of cryptocurrencies.

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This gave legs to the narrative was the main catalyst for Bitcoin and top altcoins, which also surged hard after President Xi's U-turn on crypto

In other news, China's oldest newspaper had a front-page article about Bitcoin, which shed light on the main peculiarities of the top coin. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin Fees Could Exceed $100 in 2020: Blockchain Capital

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    Bitcoin could hit a new all-time high with network fees exceeding $100 in 2020, according to Blockchain Capital

Bitcoin Fees Could Exceed $100 in 2020: Blockchain Capital
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Blockchain Capital's Spencer Bogart has recently published a list of 2020 predictions for cryptocurrency predictions. The most remarkable one concerns Bitcoin fees that are expected to surpass $100 next year due to the growing demand for transactions.

Back in December 2017, during the heyday of crypto, the average Bitcoin transaction fee increased to $55. As of Dec. 12, 2018, it is just at $0.52, BitInfoCharts data shows.    

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Bitcoin blast past a new all-time high 

According to Blockchain Capital, Bitcoin is set to experience another price rally in 2020 that could push its price above the current all-time high of $20,000. However, it is very unlikely to touch reach $1 mln (sorry, John McAfee).  

The crypto community expects the BTC price to skyrocket because of the upcoming halvening after the enormous returns of the previous two events. This time around, the reward for each mined coins will be decreased to just 6.25 coins. 

As reported by U.Today, the famous stock-to-flow model, which measures the coin's value by determining its scarcity, would be invalidated if Bitcoin didn't surge past the $100,000 mark before December 2021. 

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Privacy coins get delisted 

In the meantime, Blockchain Capital suggests that 2020 is going to be a tough year for stablecoins. Major exchanges could be forced to delist the likes of Monero (XMR), Zcash (ZEC), and other anonymous cryptocurrencies due to growing regulatory pressure. 

The writing is already on the wall. ZEC, which recently reached a new all-time low, was delisted from Coinbase UK back in August. In October, OKEx Korea moved to delist all major privacy coins but later decided to review its decision.     

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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