Tezos News Today – Headlines for February 3

  • Tezos price reaches a new all-time high
  • Tezos to post more highs in the coming days
  • The long-term outlook for cryptocurrencies overall is bearish

Tezos News Today – even though most traders and analysts have put their focus on Bitcoin, other top digital currencies have also had some sort of relevance in recent weeks. This has been the case as recently as the last 24 hours. One of such digital assets is Tezos. A close look at the daily chart for XTZ/USD shows that the digital asset has had an impressive last 24 hours. It has gained 15% after its price surged to as high as $2.04. Recall that it started trade yesterday at $1.75. Today now it is trading above $2.00 at press time.

Now crypto analysts believe that Tezos has the potential to even go higher due to the current strong surge by 15% in the last 24 hours. They believe the project’s positive trend will propel it to reach new highs.

Tezos Rises Past $2.00 in the Last 24 Hours

As on the chart, since reaching a bottom at the beginning of the year, the price of Tezos has posted a jaw-dropping surge higher. The coin has rallied faster than market leader Bitcoin. Analysts claim Tezos’ recent good form is a stepping stone for more highs in the coming days. Here is what they had to say about the asset class:

Filb Filb a legendary cryptocurrency trader recently posted a chart indicating that he sees a strong upside potential of about least 100% and 50% for Tezos. Including XTZ/BTC and XTZ/USD pairs, respectively.

Another trader Luke Martin cited the Tezos movement above the monthly position. Which he said will continue moving forward in an uptick against the USD and Bitcoin. He claims that it will rally dozens of percentages higher.

Analysts Say the Long-Term Outlook for Digital Asset is Bearish

While many crypto analysts are optimistic about Tezos, other commentators don’t believe that non-Bitcoin assets have positive fundamentals regarding their long-term outlook. Former-Wall Street investor Mike Novogratz recently showed concerns that every digital asset apart from Bitcoin, lack a distinct use case. He asserted that the number one asset Bitcoin has very clear use cases and a purpose at the moment.

The usage is serving a digital gold or as a digital store of value. Novogratz also said that for other digital assets to have the capability to establish concrete use cases is still a few years away. Hence, calling these coins irrelevant with no real global impact like BTC. There is no long-term potential for growth.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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