The cryptocurrency market looks green again in the last one-hour statistics as the coins that were previously observed to be in the reddish zone has turned green. Bitcoin had dropped below the $9300 level but has retraced back to the mark and at 3:30 PM UTC was seen to be trading at $9345.79 with a market capitalization of $158.848.
The community is eagerly waiting for the Billionaire Tim Draper’s words to be realized. He had mentioned that Bitcoin would reach $250,000 in four years. TRON [TRX] remains to be the biggest gainer for the day as of now with a gain of 20.52% and at 3:35 PM UTC was seen to be trading at $0.065 with a market capitalization of $4.302 billion.
The sentiment analysis segment comprises of quality sentiments of people from around the world about the current market trends and possible outcomes of the coins in the future. The expert opinions that we gathered are presented as it is to ensure that our readers get a wholesome picture.
This segment is carefully structured after interviewing a group of investors, skeptics, miners, analysts, influencers, and their valuable comments are recorded. This analysis is focused on Stellar Lumens [XLM] which is currently at the 8th spot in the rankings.
Stellar Lumens [XLM]
At 3:44 PM UTC, the coin was seen to be trading at $0.392 with a market capitalization of $7.290 billion. The coin has had a gain of 5.81% in the last 24 hours. The coin peaked at an intraday high of $0.397 at 12:44 PM UTC which is the highest since the last week of February.
The bullish momentum seems to be waning as the price is now looking to consolidate above $0.39. The coin had gained by 1.46% on Monday which partially reversed the loss of 1.95% on Sunday. The coin ended the day at $0.371 and it went to an intraday low of $0.361 which was held above the day’s first major support level of $0.356.
Gregory Powell, a Financial Accountant from Liverpool says:
“Right now the price seems to be consolidating above the $0.39 mark and the coin is more likely to go sideways than to have a bullish reversal. Some of the analysts are of the opinion that the coin will have a bear pull in the long run. The price may drop down to the $0.26 levels once it breaks its support.”
Jerrod Cassidy, an altcoin miner from Cape Town says:
“The coin is evenly poised right now with a chance of a bullish or a bearish breakout. The stochastic RSI indicator shows an overbought position and if the coin manages to stay in that region for some more time, then it will be a bullish reversal, otherwise the chances are that it will go down.”
Curtis Stanley, a stockbroker from New York says:
“The recent gains in the cryptocurrency market is due to the crash in the stock market. As the stock market goes down, Bitcoin along with the others rise up. As for Stellar Lumens, if the Central Bank Digital Currency is issued on their blockchain network, the coin may be valued more in terms of its price and market capital.”
To conclude, 61% of Stellar respondents are eagerly waiting for the coin to break on an upside momentum and they feel that if it fails to do so now, the chances are that the coin will go down. Another 39% of Stellar Lumens respondents are however optimistic that there will be bulls to carry out the deed for the coin.
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