Tezos is similar to Ethereum as it also helps in making smart contracts. It is a decentralized, peer to peer cryptocurrency aimed to make remarkable improvements over its competitors. Ex-Morgan Stanley analyst Arthur Breitman develops it, and it is a multipurpose platform that supports both smart contracts and dApps. It is powered by XTZ which is created via ‘baking.’ According to the cryptoanalysts, one’s current investment in XTZ can be devalued in the future.
Current status of Tezos
- Tezos is currently getting traded at USD 0.450237 (UTC time 09:11).
- It is currently standing at the 22nd position among the cryptocurrencies that are currently getting traded.
- Its current market cap has a value worth of USD 273,514,096.
- At present, 607,489,041 XTZ is getting circulated in the crypto market.
Price analysis of Tezos on the basis of the Tezos charts
From the chart above, it is seen that the current market price of Tezos is 0.451751 USD or 0.00011350 BTC (UTC time 09:16). Its current cap is traded at a value of 274,433,615 USD with 3,512,506 USD as its 24h volume. From the same chart, it is seen that on January 28, 2019, the price of XTZ was 0.401396 USD. So, it is evident that within this nearly 1 month period, the price of Tezos has been lifted by 12.54%. But, if we take the price of the same in the past few days, it is seen that Tezos is on a bearish trend line.
Future price predictions of Tezos
On the basis of its present resistance value of 0.451751 USD, the cryptoanalysts have suggested that tomorrow, the price of XTZ can be around $0.4410. They also have suggested that the price of XTZ after 5 years can be around $7.65. Considering the volatility of the crypto market, the analysts have predicted that in spite of the downfall of its prices, it will not incur extensive loses to its investors or the difference in its price hikes and downs will not be that great. So, people who are opting for long term investment on XTZ can proceed further, and they can expect good returns in the future.
So, considering all these predictions, it is quite obvious that investing on this crypto on long term basis would not be a very futile idea as the differences in its price fluctuations daily will not be that great. Moreover, the price of Tezos is expected to rise in the future, so, this is a positive indication to its investors.
Tezos has the ability to give a tough tier to its competitors as from the XTZ forecast, and discussions, it is cleared that in spite of the great volatility of the crypto market, its prices will be somewhat stable so, investors can definitely consider XTZ, if they are concerned about long term investment on any crypto.