Can XLM do what Bitcoin last year? Will XLM may surge to a price summit
I thought that since bitcoin has not been doing anything interesting last few days, what I want to talk about is actually something that is interesting and I think it's quite fascinating to talk about. So take a look at this page over here, which is coin market cap dot Com, and on this page, as you can see the these are the cryptocurrencies as per market cap and of course the cryptocurrencies with the largest market cap are listed first, so in descending order, so you can see at the top of the list as we'd expect, the crypto were the were the largest market cap, is bitcoin and followed. Then by etherium Xrp, bitcoin cash stellar and off they go down the list, Ios light coin car, Dano, tether, Monero and so on and so on. Now you're probably wondering, well, why am I mentioning this? Well, what's happening is there's been an interesting theory floating around that one of these cryptocurrencies are you seeing here could do what bitcoin did in 2017, which is, as you can see here, this is bitcoin back in 2017 and essentially the theory is at one of those cryptocurrencies could go up by a thousand percent or more.
So as we can see Bitcoin, I'm about a thousand dollars back, probably even less than $1,000 back in 2017 and then of course sort of major, major rally that went up eventually to 10,000. Then of course we went as we know the rest is history, 10,002 $20,000 and so on and so on. So is it possible or is it probable that one of these cryptocurrencies that you're seeing here on coin market cap, could it do what bitcoin did in 2017 and in fact, which one is it? All right. So the theory this floating around, and it's quite amusing to me to actually even contemplate this as, as I'm sure you've probably heard the news, and I know this is information for the masses, but I'm mentioning this to give some context, so the reports are that the world's most popular bitcoin wallet blockchain has been giving away a $125,000,000 worth of cryptocurrency.
Stellar. Okay. And what's happening is that block chain is offering $25 of stellar lumens. Xl m full free too. It's 30 million users now. I don't know what you think, but to me it sounds like a bit of clever marketing, but let's listen to what the reasons are. A to the block chain CEO and he says that stellar's token and enables quick low cost worldwide transactions even when millions of people are using it once. So the theory seems to be that stellar or xl m could potentially do what bitcoin did in the year 2017. Here's the chart of excellent for you. I should just say I don't think anybody's claiming that stellar has a better quality or a more superior quality than bitcoin. I don't think that's what they're saying. The only thing they're saying is that perhaps stellar pricewise could do what bitcoin did in 2017.
In other words, as a measure of price and the multiples perhaps stellar has a better chance of doing this. I mean, Stella right now is sitting here around about a 27 or twenty eight cents against the dollar and I have to say to you, looking at the chart, the chart does look very compelling. It certainly looks very convincing. When I look at the chart here, I mean just take a look at this chart over here and you can see from a technical perspective, again, just putting everything else aside, just looking at the technicals, looking at the charts, we can see this consolidation pattern, this triangular formation here, and you can see stellar xlm just recently. In fact today as I'm speaking, is breaking out of this triangular formation. Certainly I got to tell you from a technical perspective, it does look very powerful. It looks very compelling.
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Now am I saying to you that I'm convinced that stellar is gonna go up by a thousand percent like bitcoin did in 2017?
No, of course not. I'm sure it's possible it could do that, but is it likely? No, I don't think so. I don't think there's any evidence whatsoever of any cryptocurrency right now. Let alone stellar could do what bitcoin did in 2017. Now, is it possible? Yes, of course it's possible he could do that, but again, how likely is it? How probable is it? We don't know and there simply isn't enough evidence to back that claim. Now, there are certainly some interesting things on this chart. I want to mention, for example, the fact that we're beginning to form. Well first of all, we put in this double bottom formation here and we begin to also see higher lows. So the fact that we've got higher lows here to higher lows.
Matter of fact, when I called this first one, the second one here, all right, and the fact that we got breakout from a triangular formation that you see here, so certainly there are some significant and compelling factors on this chart that seemed to indicate that stellar or Xlm is putting in a brand new upward trend. It could certainly be a very powerful upward trend if the momentum indeed continues. But does it indicate it could do what bitcoin did in the year 2017 and go up by a thousand percent or more? No, it doesn't say that. Uh, but certainly it looks interesting and I got to tell you from a chart perspective, it looks very compelling and powerful. And also one more thing I want to show you here, which is that if you compare x, l, m against BTC, look at that. I mean the price action here guys.
I mean the price action on stellar right now against bitcoin. I mean, it's crushing it right now. All right. I have not seen this kind of movement or indeed this kind of action on other cryptocurrencies. I'm the way I'm seeing it on stellar now. Maybe I'm wrong. You can correct me on that, but certainly the way I'm seeing it right now, I haven't seen this kind of action, this kind of performance on some of the other cryptos. Okay. Uh, so stellar right now is APA forming a bitcoin. And if I just compare, for example, Xrp against bitcoin. No, you don't see that happening. For example, what about eth? Where's his btc if theory MBDC nope. Not seeing that either on etherium. And what about, let's Say LTC light coin versus BTC? Nope. Actually light coin is depreciating against bitcoin. What about, let's say bitcoin cash?
Well, bitcoin cash neither. What about, let's say Ada Cardona? Nope. Cardona not doing it either. And neither is dash for that matter to you guys as far as I can see out of the top 10 cryptos out there in the coin market cap list. Uh, the way I see it right now, uh, Xcel xcel m is just, you know, Apa formatting and crushing bitcoin here, as you can see here, as far as relative strength is concerned in any case. So guys, going back to the chart of Xlm or stellar here, uh, it, it does look interesting. We're going to keep an eye on this one. All I can say is that in order for this uptrend, if this is indeed an uptrend on Steller, if we're going to see further and momentum and further strengthen this, it needs to stay above this triangle formation. Okay? So it mustn't do this, it must've just fall back into the triangle formation again.
Okay. So it needs to see more follow through and the key support level is going to be, I would say about the 26, 25 levels here. So I need to stay above at least 25 to 26 in order to confirm that this is actually the start of something big in this particular crypto. Alright guys. So that's certainly very interesting. And guys let me know your opinion. Let me know what you think. Do you agree with some of the sources out there that say the stiller could do what bitcoin did last year or do you think actually could get different cryptocurrency like for example, dash or maybe a theory? Our guys, I'd love to hear your comments.
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