Yesterday, Friday morning started with a good hope again for stellar price and also for all Cryptocurrencies. All coins were moving upward with green sign from top to bottom except few coins. Stellar value started to rise and now Stellar is being traded at $0.229 USD with -1.73% drops and in btc value it is being traded at 0.00002810 BTC with -2.42%. None of any new stellar xlm news is the reason for this price drop.
On Wednesday, cryptocurrency market started to drop from $377 billion to $309 billion on Thursday. Today market cap is around $325 billion. There are many reasons behind this drop, some experts says it was impact due to Google crackdown on Cryptocurrency advertisements. Although, some news of raids on three South Korean Exchanges was the hot topic on internet, has also played a role in price drop but these are not seems as overall drop of crypto market.
From November 2017, a continuous drop observed in the market after some FUD, cryptocurrency regulating announcements and cryptocurrency banning news. Still market not recovered, however in the first week of March, bitcoin price increase observed and bitcoin price hit to the value of around $11,700 USD. At that time all other cryptocurrencies were at the same level, however Stellar was fighting to survive its position in the market.
Stellar XLM Value
At this stage, stellar xlm needed to join the more exchanges to increase its supply volume in the market. This should be the main agenda of stellar team to join partnerships with big brands and financial institutions to grow business. Like ripple, Stellar has the best features and has the potential to fulfill the market requirements. Like all cryptocurrencies, Stellar also dropped more than 50% but Stellar is one of the coins which have potential to recover. As said, it just needs to join more exchanges and companies.
Also read: Litecoin Price Analysis: What Need to Boom Litecoin Value High
Stellar XLM acceptance as a payment system throughout the world can boost its price. However, its stellar acceptance in Coinbase can increase its price more than 150%.
Stellar XLM has dropped to its support line and for short term, which can be the best for traders for short term trading. As predicted the price of Bitcoin, if bitcoin value crosses $15,000, the price of stellar will also be doubled. Personally, I am hopeful to good profit from stellar can be taken by long term trading.
Note: Crypto investments have high risk factor. Please be careful before investing, here we shows only analysis and personal experiences. We never guarantee the ups and down of the coin value.
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