Does Stellar’s Current Gains Signal a Long Term Win?

By Sumedha Bose

Stellar, the cryptocurrency that has had a great 2018, is again seeing some strong gains in the beginning of the second week of January.

Good news is pouring in for the cryptocurrency, which is currently one of the few altcoins displaying a bullish trend on the charts.

Stellar XLM’s price surged more than 6% in the span of 24 hours, on Monday. Having been limited to wider priceband since December 28, 2018, Stellar has managed to shoot up on the charts and make a mark on the potential investors.

Source; CoinMarketCap

As we are looking at the possible outcomes for the crypto market in the year 2109, we are more aware that the market has scope for recovery due to the renewed buying optimism of investors. This is already helping many Altcoins overcome their resitance areas and rise high.

Stellar has already displayed a bullish trend which we hope it can hold on to, in the days to come. Although in the short term scenario, Stellar is bound to earn some impressive returns on investment, we are still in two minds about the long term potential of this coin.

While discussing Will Stellar be a Good Investment in 2019? we had already adressed some of the concerns that are currently ongoing with the cryptocurrency. However, the digital currency has a lot of redeeming qualities which can elicit a positive attitude and greater investments from potential investors.

It is still too early to say whether this short term price rise guarantees it a prime spot in the long race, but we can srely say that the cryptocurrency’s growth graph has been impressive.

After reading ‘Stellar Grows To Have 10 Times The Number Of Users Than At The Beginning Of 2018‘ you will be convinced that the sheer amount of people getting on board with this cryptocurrency and putting their moeny behind it is actually abetting the price rise of the altcoin.

We can thus conclude that even if its price does not rise astronomically in the days to come, it will still remain a strong stakeholder in the crypto market, with a growing community to back it up.

 

Sumedha Bose

Sumedha uses words as her crutch to get by in life. She takes a keen interest in debating, dancing and destroying the patriarchy in her free time. She can be contacted at [email protected].

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