Anyone who is even remotely interested in the crypto sector and hasn’t been living in a cave these past few weeks should know that cryptocurrencies experienced a significant improvement in their respective market values. Most significant is Bitcoin which after months of relative stagnation, was able to break through the $5000 mark and surged even higher. But one altcoin which also benefited from the bullish market was the Stellar Lumens (XLM).
Apart from the general effect of the market on the asset, Coinbase also did announce sometime in March that it will be airdropping more than a hundred million dollars in XLM (1 billion XLM) to users who are interested in doing a proper study of the Stellar protocol.
This was done in an official partnership with the Stellar Development Foundation and significantly improved Stellar Lumens’ outlook and its ultimate market value.
Today, there are predictions that XLM would experience its own unique bull market in the very near future. This prediction does seem plausible as the applications for XLM seem wide enough to almost guarantee a bull. Also, the Stellar foundation is visibly interested in offering a more generally proficient system for transactions and hopes this would shoot up its value.
So far, Stellar Lumens has been performing considerably well and it has been predicted that the price will rise past the $0.2 mark from its current price of $0.115. This expected rise is expected to happen sometime in the second quarter of 2019. More specifically, investors believe that they will be able to reap profits in their double digits before the second quarter is over and are already holding.
If profit is the endgame, it’s always best to buy either when the price of an asset isn’t high or there’s a strong reason to believe that a significant increase just might be on the horizon. Based on this, it would seem like now is the perfect time to hodl XLM.
It is difficult to decide when exactly the proposed bull would end or how long it would last. Some have indicated that in the long term, XLM could still fall victim to a general bear market in the future. However, if this doesn’t happen then it’s unlikely that XLM on its own would experience a bear market anytime soon.
Disclaimer: The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.