Tezos Is Goin To The New Highs: When To Expect?
Over the past few months, Tezos has shown signs of bullish momentum, despite a general collapse in the cryptocurrency market. Despite the prevalence of bearish sentiment in the market, according to analysts, this asset can reach a new maximum in the near future.
XTZ/USD price charts show bullish momentum
Tezos has a not very clean reputation within the crypto community. Many XTZ holders faced Tezos fraudulent activity and repeatedly sued project managers. Some investors went bankrupt after investing in Tezos.
In particular, investors were convinced that they would make a profit of 200% if they buy Tezos in early 2020. In turn, investors who purchased this digital currency at the beginning of 2019 should have received a profit of 400% of the investment.
But the forecasts did not materialize. Tezos fell almost 75%, its price fell from $4 to $1.
Now the situation has taken a positive direction. If you look at the XTZ/USD price charts, we can see a triangle that goes up. This indicates the prevalence of bullish impulses and the possibility of a breakthrough in the near future. Tezos has repeatedly shown a tendency to quickly recover and grow after a collapse. Will cryptocurrency repeat this path in the spring of 2020?
XTZ can outperform BTC in market capitalization
Also, analysts recorded positive trends in the XTZ/BTC trading pair. On the price chart, we can see a fractal that shows the relationship between the fall of Bitcoin and the growth of XTZ. This fractal is repeatedly repeated on the chart.
Thus, if Tezos holds onto the bullish price model, it could rise relative to Bitcoin. In these conditions, Tezos market capitalization may exceed the value of Bitcoin.
Many investors are optimistic about Tezos. This digital currency pays off investments and allows entrepreneurs to receive an APY rate. Amid the instability of other cryptocurrencies, Tezos is causing great interest among investors. Repeated manifestations of bullish impulses and the possibility of reaching a new maximum makes digital currency popular in the cryptocurrency market. Thus, 2020 could be a breakthrough for Tezos.