The Tezos latest news today show that XTZ is in a bullish momentum and is perhaps one of the altcoins with the best performance this month. While yesterday XTZ traded at around $1.75, today we can see that Tezos jumps and is very close to the $2 mark.
Analysts across the board say that this altcoin gained more than 15% yesterday and surged to as high as $2.04 but later on corrected its gains to 10%. This strong move higher in the price of XTZ could be a precursor to an even larger surge higher expected soon. As the technical analysts cited, there is a positive fundamental trend for this project.
For those of you who don’t read our blockchain news, Tezos is basically a blockchain “for assets and applications backed by a global community of validators, researchers, and builders. It uses a Proof of Stake consensus mechanism.”
As seen in the chart below, since bottoming at the start of the year, Tezos (XTZ) has been in a massive surge higher. As Tezos jumps in to secure new levels, its rally is going even faster than the market leader Bitcoin, which led the rest of the market effectively to new gains last year.
Analysts now say that Tezos and its strong performance on Sunday is a precursor to an even larger move that is coming in the days ahead. According to the analyst filbfilb, as Tezos jumps to new levels, the cryptocurrency is very impressive. He said that he “has a bag” referring to the new profits posted by XTZ.
— f i l ₿ f i l ₿ (@filbfilb) February 2, 2020
Another analyst and podcaster named Luke Martin said that as Tezos jumps, it is now above the monthly level and it will be continuing its uptrend against Bitcoin (BTC) in the coming months to rally dozens of percent higher.
Never traded $XTZ before but now that it's back above the monthly it sure looks like it's continuing uptrend.
At new ath dollar price.
Expect it to carry the satoshi price. pic.twitter.com/T09cAuuozz— Luke Martin (@VentureCoinist) February 2, 2020
While analysts are very optimistic about the Tezos news now, there are market commentators who don’t think that non-Bitcoin cryptocurrencies have a positive medium to long-term price outlook. The ex-Wall Street investor and guru Mike Novogratz, for instance, recently said that all digital assets (besides BTC) don’t have a distinct use case or goal at the moment.
But despite all of this, the fact that Tezos jumps 10% on the day shows that this is one of the most interesting altcoins to watch out for now.
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