It Is So Close To See The Stellar Bull Run
Last couple weeks had been remarkable for Ripple. Yet the end of the seven-day streak may have lead to a minor recession in the general advances made by the cryptocurrency. XRP is still up and is likely to continue bewildering.
Bearing in mind the bombshell news about Ripple’s xRapid platform likely being released to start contributing banks within the next couple of months, XRP’s advancement is relatively expected. After the announcement, there was an implausible bull run that had the currency—at one point— USD $0.70 per coin which reached all the way up to six-month highs.
But the communal is always trying to find the next huge bull run. Ripple’s value looks as if it has largely festered from the time when the foremost boom it reached. Other cryptocurrencies that might be knotted to the value of XRP are the new objective of mass conjecture as customers and investors in the upward crypto markets look to recover some of their losses.
XLM, or Stellar is the main coin which is drawing the interest of speculating analysts in the crypto space. Stellar is a company that intends to do something mainly parallel to what Ripple wants to do; they are working to create a scalable ledger system to maximize efficiency in transacting between major banks in the traditional financial realm.
Predictors argue towards a longstanding tendency that within next few weeks, XLM naturally will follow just behind its participant in value as a proof that it is likely to practice a parallel bull run.
Advantage of The Stellar
According to some experts and their analysts within the crypto field, Stellar has a strong benefit in marketability over Ripple. Whereas Ripple is specifically made-to-order to work with traditional banks in the traditional finance field, professionals say that Stellar is exclusively suited to work with Initial Coin Offerings (ICOs) and Decentralized Applications (DApps). This double functionality is one of the core mechanisms of the Stellar appeal, and it might just be the object to stand out that permits the coinage.
Stellar has also assertively endeavored to place itself in a limelight beside Ethereum. Both platforms could be a chief benefit for the DApp and ICO conception process, though Stellar claims an imposing list of exclusive welfares, including low transaction fees, pre-made decentralized exchanges, and fissionable transaction capability.
The vast submission of the technology is clearly one factor that could push XLM to new heights, while Stellar is clearly still has a long way form taking Ethereum’s spot as the preferred among cryptocurrency developers and blockchain.
Regulation and Stellar
Regulation is a major concern for all cryptocurrencies. Stellar seems to have a comparatively close lock on the supervisory, regulatory efforts by leading bodies within its authority. The Stellar Foundation has kept its intention relatively straight—and out of the court room, while Ripple has been enforced to ward off many endeavored proceedings from furious investors who had lost money investing in their token.
While this does not necessarily mean that the currency does not have to concern about governing movement in the coming months and years, nonexistence of clear attack from litigators is a progressive indication for the future of the currency in a legal nimble.
Moderately often, Stellar’s team is also disreputable for coming out with updates to their platform. The development team for the Stellar Foundation has released information on at least three main updates to be supplementary to the long list of functions on the network in the last quarter of 2018.
First of all , Stellar’s developers are working to draw near to other cryptos on the market with the operation of state channels. Under a state channel, users are capable to perform their own transactions without having to do them on the actual Stellar blockchain. This is stereotypically used when the expenditures being established are not old-fashioned forms of transactions.
Stellar is also planning to implement a beta for its new lightning network possibly more exciting for the tech-oriented professionals on the blockchain. The lightning network is a distributed ledger solution which permits for much faster and well-organized transactions to befall at an advanced volume. The lightning network could effortlessly make the Stellar blockchain meaningfully more effectual than it already is, of course in theory.
Captivatingly, the new updates will also contain the live, non-beta version of the Stellar Lightning Network. Considering that many cryptocurrency updates takes months or even years in their testing phase before hitting the true network and this is something unexpected.
Bull Run is Near
With the whole thing released by the Stellar team, it should come as no coincidence that some predictors are foreseeing an enormous bull run just before the end of this year. it is only a matter of time of course if XLM actually does plan to sustained to follow closely behind XRP.
Bitcoin could hit $62k by end of October, claims trader
As Bitcoin (BTC) is testing new resistance levels above $9000, one trader has pointed out that the momentum could be even stronger than it looks. If a pattern from 2017 is anything to go by, the top crypto could rise well above its all-time high.
Crypto trader Galaxy (@GalaxyBTC) pointed out that the week preceding today has seen a similar candle set-up to one that occurred back in 2017, when the last big bull run was building up steam.
After that week’s price action, BTC then saw a price increase of 570 percent. This happened over the course of 147 days, just under 5 months. If this pattern happens again in the same way, BTC will be trading at around $62,000 by the end of October.
Opinions about this prediction on Twitter were divided. Some agreed with the assessment, with one observer pointed out that they made a similarly bullish claim not long ago. Others questioned the analysis, and suggested that the user was just making outlandish predictions to get followers.
Bitcoin: Third coming of the green Super Guppy buoys bulls as price consolidates over $9,000
Bitcoin broke out of its sluggish blues by breaking the $9,000 mark for the first time in 13 months, earlier this week. With several analysts pegging the rise of Bitcoin to be a consequence of the Facebook Libra pump, a more wholesome look at the charts indicates a more consolidated rally, rather than a myopic push.
A recent piece of analysis by Josh Rager, a cryptocurrency analyst and advisor for Token Bacon and Level Invest, revealed that the Bitcoin market was primed for an upswing that will mirror previous bullish rallies of 2012 and 2016. Facebook might have been the catalyst to push the market out of the June slump, but Libra cannot prolong the high, and by the looks of it, the market is likely to march forward on its own.
The Super Guppy indicator which indicates trader behavior based on sets of moving averages, has flipped from red to green on the weekly Bitcoin chart, indicating a sustained bullish swing to the market. As mentioned previously, this is the third coming of the green-switch on the weekly BTC chart; the first two saw the price of the cryptocurrency surge to $1,000 and then to nearly $20,000.
Rager posited the historical price movements of the cryptocurrency based on the first two occasions of the Super Guppy indicator flipping green. With reference to the recent flip, he stated that the market is likely to be “bountiful,” for “the next few years,” given the manifestation of the “flip,” in the month of June 2019.
His full tweet read,
It’s finally here…
The Bitcoin Super Guppy has flipped green on the 1-week chart
2012: 400-day uptrend followed a flip green
2016: 700-day uptrend followed a flip green
2019: the 1W Super Guppy has finally flipped green and it shall be a bountiful market the next few years pic.twitter.com/6zAn1qgtBy
— Josh Rager (@Josh_Rager) June 18, 2019
The price of the top cryptocurrency in the market has been on a rollercoaster ride since the beginning of April 2019. With the breach of the 200-day Moving Average on April 2, Bitcoin’s price took a turn for the better, which according to Fundstrat’s Thomas Lee, was the key trigger to the bullish market. Further, the king coin’s “Golden Cross” was realized in April, something that had previously taken the coin to an unprecedented high in December 2017, before switching to a “Death Cross” last year.
At a time when the likes of Fidelity, Facebook, and JP Morgan are veering towards the cryptocurrency market on the big-name side and at time when Bitcoin is trading within the Golden Cross and its Super Guppy has flipped green, the price can only consolidate from this point on and move higher.
Bitcoin (BTC/USD) forecast and analysis on June 18, 2019
Cryptocurrency Bitcoin (BTC/USD) is trading at 9096. Cryptocurrency quotes are trading above the moving average with a period of 55. This indicates a bullish trend on Bitcoin. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator.
Bitcoin (BTC/USD) forecast and analysis on June 18, 2019
As part of the Bitcoin exchange rate forecast, the test level of 8950 is expected. Where should we expect an attempt to continue BTC/USD growth and further development of the upward trend. The purpose of this movement is the area near the level of 9820. The conservative area for buying of Bitcoin is located near the lower border of the Bollinger Bands indicator bars at the level of 8050.
Cancellation of the option to continue the growth rate of Bitcoin will be the breakdown of the lower border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair below the 8020 area. This will indicate a change in the current trend in favor of a bearish for BTC/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bars, one should expect an acceleration of the fall of the cryptocurrency.
Bitcoin (BTC/USD) forecast and analysis on June 18, 2019 implies a test level of 8950. Further growth is expected to continue to the area above the level of 9820. The conservative area for buying Bitcoin is located area of 8050. Cancellation of the growth option of cryptocurrency will be a breakdown of the level of 8020. In this case, we can expect further the fall.