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Stellar Lumens (XLM) to Post Another 37 Percent Gain after Recent Pump, Crypto Trader Says

ByBit
  • Yuri Molchan
    📰 News

    A crypto trader expects XLM to grow another 37 percent before it hits resistance, while the community is heatedly discussing the recent token burn

Stellar Lumens (XLM) to Post Another 37 Percent Gain after Recent Pump, Crypto Trader Says
Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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On November 5, the XLM price suddenly soared 20 percent, following a token burn of 55 bln XLM. That is around 50 percent of the total supply.

The crypto community has been having heated discussions as to the reasons of this abrupt coin burn.

Still, a crypto trader going by the name @imBagsy in Twitter, says they are expecting the XLM price to surge another 37 percent before it hits the first serious level of horizontal resistance.

XRP fans are at a loss

A prominent member of the Ripple community, @XrpCenter, posted a tweet, expressing his disappointment at the situation with XLM that perhaps seems unfair to XRP holders.

After Stellar eliminated half of the total XLM supply, the price immediately soared (though no particular reasons were cited), while the price of XRP is not moving up much, despite the numerous partnerships and utility cases for XRP.

Another thing is that despite the multiple forecasts of XRP surging once the Swell event starts this year (taking place November 7 and 8) in Singapore, the price of the coin remains in the red with no signs of bulls taking over bears.

XRP price
Image by Coinmarketcap

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Ripple’s Swell 2019

During the much-expected conference, the CEO Brad Garlinghouse told Forbes that by now Ripple has over 300 customers.

As for the fact that many are demanding why the XRP price has not skyrocketed yet, as it was in January 2018, Garlinghouse said that the company and the XRP price are following the natural course of things – first a child crawls, then he walks, then he runs.

Garlinghouse stated that Ripple is not yet running but is already walking.

“I think the people who are focused on the hype is trying to sprint – Ripple is very much focused on the marathon. And I think we are at mile marker two of the 26 miles. We have 24 miles ahead of us.”

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin Is Classic Pump-and-Dump Scheme, Says Peter Schiff

ByBit
  • Alex Dovbnya
    📰 News

    Gold proponent Peter Schiff thinks that Bitcoin evaporating its 40 percent pump proves that it's a pump-and-dump scheme

Bitcoin Is Classic Pump-and-Dump Scheme, Says Peter Schiff
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

Euro Pacific Capital CEO Peter Schiff has come up with a new insult for Bitcoin, calling it "a classic pump-and-dump scheme."

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Schiff continues to assert that Bitcoin's 40 percent pump on Oct. 25 was the result of price manipulations. The fact that Bitcoin's has completely trimmed these gains in just four weeks definitely flies in the face of bulls.

The gold bug explains that the pump was meant "to sucker in" momentum buyers to dump their bags later. This is supposed to be a wake-up call for all buyers.

Earlier, Schiff lambasted Bitcoin holders for not being able to see through the shenanigans of whales who are selling their coins on the verge of a major price.        

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Other bears are waking up 

Mark Dow, the trader who famously shorted Bitcoin at its current all-time high, recently resurfaced on Twitter with a succinct "Bitcoin is dying" tweet, which came in handy right on the verge of Bitcoin's drop to the $7,500 level.     

While some bulls might be tempted to dismiss Bitcoin price moves recorded on the lower time-frames as "noise," the long-term picture is also gloomy. As reported by U.Today, crypto market analyst Willy Woo opined that Bitcoin might not replicate the success of previous halvening cycles due to its unusual bearishness. 

Subscribe to U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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