Tezos News Today – Headlines for February 20

  • Tezos’ ongoing crypto rally could double
  • XTZ is among the best performing digital currency this year
  • Tezos has gained 200% since the beginning of 2020

Tezos News Today – the digital currency known as Tezos is now among this year’s best performing digital assets. The coin has risen by more than 200% since the year began to this day. While the surging digital asset isn’t showing any signs of stopping, it is set to go on to double its value from this point according to one prominent crypto analyst.

Tezos is the Best Performing Altcoin in 2020

Tezos is one of the unique cryptocurrencies in the industry. The altcoin exploded recently into the top ten. It achieved this after an early 2020 rally. This rally smashed all expectations after it doubled the coins’ value. Since the beginning of this year, the price of Tezos is up by an impressive 200%.

From the digital asset’s late downtrend from the past year, Tezos value has quadrupled. With a high percentage of 420% in returns. From Tezos’ bear market bottom, the coin’s value has grown by a mouthwatering 1,125% in just more than a year. Analysts have continued to warn traders and investors about FOMO over an asset that has risen so much already. Tezos has maintained its rally, leaving cautious traders with regret with the current state of things.

Doubling Crypto Prices to Send Investors into the Tezos Market

Such regret will grow if the price of Tezos does as a certain analyst believes. The analyst expects that the price extends its parabola to the $6.30 level. The current high point for Tezos is set at the $3.70 position. Hence, reaching such a price target would mean the price of Tezos doubles from its current position. Such a rally would cause a fresh 100% push which took the year-to-date gains of Tezos to 400%. It would take investments made from the bottom to returns of about 2,000% in just less than 16-months. The Tezos price has completed these remarkable feats before the bull market truly started for all cryptos.

Because Tezos is relatively a newcomer among a host of new altcoins that missed the most recent crypto bubble. The shiny new digital currencies have less tarnish as well as negativity to break from. These assets do not have support positions turned resistance to move past and instead are still in their price discovery modes. Meaning that any peak positions are psychological barriers. However, the pattern of market dynamics has established the true value.

This is the main reason why the price of Tezos could double from here. It could reach $6.3 in the coming days. The reason is that we can’t really tell what Tezos will be worth. The speculative asset is more likely to explode until there is strong psychological resistance insight.

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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