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Price Analysis

Tezos (XTZ) Price Analysis: How Long will Bulls Impact the Price of Tezos?

  • Tezos makes an investment in Chorus Mobility
  • Despite fluctuations, Optimism in the price trend of Tezos

Tezos is a big name when it comes to dApps and smart contracts. It functions as a multi-purpose platform, while is built on a self-developing blockchain network. The cryptocurrency established by ex-Morgan Stanley analyst Arthur Breitman has made notable progress in its price since January 2019. It had its All-Time-High price of $12.19 in December 2017.

Current Statistics:

At 12:11:10 UTC, the price was at $1.62. XTZ offers Return of Interest of 243.48% according to Coinmarketcap. The cryptocurrency has a 24-hour volume of $4,943,366. Tezos that is ranked at 16th position, holds 795,283,277 XTZ as its total supply. Moreover, Tezos’ Market Capitalization is $1,065,005,423.

Tezos (XTZ) Chart

As we can see, XTZ was bottomed at $0.44 when this year started. The price of XTZ didn’t show much of a movement till in April. From 18th March, the coin started showing its potential, indicating a price spike. Since then, it has not turned back as it kept moving up, but with many price fluctuations. Finally, it had reached the price level as high as $1.88. Also, It has increased by 4.5% in the last 24 hour, as its price surged to $1.62 from $1.55 in the last 24 hours. Moreover, Tezos has recently announced its support for Chorus Mobility, which is expected to create some ripple in its price.

Prediction:

For short term investors, we can predict that the Tezos price is likely to reach $2 mark within a week. In the long term, It can cross $10 mark in 2020.

Conclusion:

It seems that Tezos has gone through a roller coaster ride this year. However, it signals to further price increases.

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Ruti Vora

Ruti has recently joined CryptonewsZ as a writer and has been writing on other cryptocurrency sites as well. Having a background of tech field makes her versatile with a keen interest in literature. You will find her surrounded by books and music when she is not on work. You can also contact her on Linkedin or Facebook.
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