In my previous Idea on XLM I noted that I took out my initial investment and kept only the profits inside the market. Looking at the market today, I am close to reversing this step and putting even more than my initial investment into XLM.
Of course the rise of over 213% in a span of a few hours is impressive but if we look at the bigger picture, is it really?
At the height of it's peak we only reached one third of the ATH from May. Even less if we compare spike to spike.
The news that IBM will partner up with XLM is one of the biggest announcements we had in the cryptomarket to date and the effect it had on the market was rather limited and short fetched.
Just like I outlined in my previous post about XLM, a lot of people are already calling XLM done again: "It will only bleed out from here on." - The greed is never satisfied, the gains have to come and come and come, and if the gains stop - even for a minute -, the coin is done and outlived.
Let's try to get a real picture of the market outlook:
- The market overheated in a massive hyped run up after the IBM news and is cooling down now.
A rather normal behavior found throughout every market.
- XLM will have a stage at two more conferences next week in which more news and announcements are likely to be made.
- XLM is actively engaged with potential partners in Japan, Southeast Asia, and the Middle East. It can be expected, especially after the IBM partnership, that there will be more of these announced until the end of the year.
- IBM will likely start to buy up XLM tokens in the coming weeks, giving the market stability.
Stellar actually is a step closer to become what Ripple intended to be and has absolute long-term value. Hence I will add to my XLM position below 600 (if that level is not broken, below 650) satoshis - both to add to my core long term holdings and my short term trading stack.
Of course the rise of over 213% in a span of a few hours is impressive but if we look at the bigger picture, is it really?
At the height of it's peak we only reached one third of the ATH from May. Even less if we compare spike to spike.
The news that IBM will partner up with XLM is one of the biggest announcements we had in the cryptomarket to date and the effect it had on the market was rather limited and short fetched.
Just like I outlined in my previous post about XLM, a lot of people are already calling XLM done again: "It will only bleed out from here on." - The greed is never satisfied, the gains have to come and come and come, and if the gains stop - even for a minute -, the coin is done and outlived.
Let's try to get a real picture of the market outlook:
- The market overheated in a massive hyped run up after the IBM news and is cooling down now.
A rather normal behavior found throughout every market.
- XLM will have a stage at two more conferences next week in which more news and announcements are likely to be made.
- XLM is actively engaged with potential partners in Japan, Southeast Asia, and the Middle East. It can be expected, especially after the IBM partnership, that there will be more of these announced until the end of the year.
- IBM will likely start to buy up XLM tokens in the coming weeks, giving the market stability.
Stellar actually is a step closer to become what Ripple intended to be and has absolute long-term value. Hence I will add to my XLM position below 600 (if that level is not broken, below 650) satoshis - both to add to my core long term holdings and my short term trading stack.
Comment:
The strong Bitcoin rise once again suppresses the alt-markets, including XLM. With every call I make, volatility is always a player. Ideally we use the volatility to step up our game and accumulate cheaper. However, you can't always time the market right, so have your stop losses in place at reasonable levels (preferably below established support lines) or hold with iron hands and patience.
Trade active:
Just a small update to make clear this position is still active.
I added to my core XLM holdings positions at 600, 550 and 500 sat.
I added to my core XLM holdings positions at 600, 550 and 500 sat.
