Tezos Continues Explosive Growth Spurt As Bitcoin (BTC) Charges Past $10,000 Mark
Bitcoin hit $10,000 tonight but was outpaced by Tezos (XTZ).
Tezos rallied hard late tonight, spiking to $2.48 around 3:30 in the morning, CST. After following ETH for a day or so, XTZ grew wings and soared to a 50% improvement on the month of February.
Though it stopped just shy of the symbolic $2.50 mark, XTZ shows excellent growth and appears to have all kinds of headroom. My (first ever) personal price target for XTZ is $5.00 by the end of February. On a little bit under $0.10 per day, XTZ has grown from a starting price of $1.68 on 2/1, 2020, to an apparently stable perch in the neighborhood of $2.40. 28 days of this level of growth gives us $2.80 in price increase, which puts us right around $4.50. But the rapid growth is likely to encourage excitement, which is likely all XTZ needs to pick up the pace a bit and clear $5.00 by 3/1/2020.
During the day of 2/8, and into 2/9, XTZ rallied from around the $2.06 mark all the way up to $2.48, marking a nearly 20% growth spurt. This after the first week of the month put XTZ over $2.00, with a spike up to $2.30.
I am long XTZ, and I believe continued growth at an accelerating rate is possible for XTZ as the token continues to distinguish itself from ETH.
The key differences are that ETH does not offer staking yet and has a market cap about 10x that of XTZ. XTZ market cap is $1.7B, up from $1.4B. ETH is also not classified as a security, which XTZ is. Relatives on the technology side, XTZ has recently begun to rapidly move past its former political issues and into greener pastures. The blockchain network has been lauded as more secure than ETH, and is up almost 400% on its low in the $0.40 neighborhood in October of 2019.
When will this astronomical growth stop? It appears to be rapidly accelerating at the moment, but only time will tell.
If you don’t already have Coinbase, sign up for a free account here: we’ll each get $10.
If you’re not already browsing securely and privately, download Brave now.
Published at Sun, 09 Feb 2020 10:29:06 +0000
{flickr|100|campaign}
